Tuesday, May 12, 2020
Sample details Pages: 9 Words: 2663 Downloads: 3 Date added: 2017/06/26 Category Business Essay Type Narrative essay Did you like this example? 1. Introduction Businesses have never been as globalised as they are today. Numerous corporations from developed, newly industrialised and developing countries operate on a global basis and need to create financial statements using the accounting practices of their home country, as well as those existing in their areas of operations. The divergence in accounting practices of different countries creates the need for the preparation of separate financial and accounting statements and subsequent reconciliation of differences. The international accounting fraternity is now steadily moving towards global commonality in accounting practices and procedural reporting. The International Accounting Standards Board (IASB) has been working towards convergence of global accounting standards. Its mission is to develop and enforce a single set of global accounting standards, based on preparation of high quality, transparent and comparable financial statements for local and gl obal users. The IASB has been working on compiling a stable set of International Financial Reporting Standards (IFRS) for first time users. The IFRS was mandated for all publicly listed companies in the European Union in 2005 and has also been adopted by other countries like Australia. The IASB has also been working very closely with the US Financial Accounting Standards Board (FASB), since 2002, to bring about convergence between US GAAP and the IFRS. However, while significant work has been done on harmonising IFRS with US GAAP and many pending issues are being currently addressed, a number of accounting topics are still treated differently by these two systems. It is the purpose of this assignment to examine the differences and similarities between US GAAP and IFRS for the treatment of Goodwill, Research and Development costs, Brands, Patents and Trademarks. A number of texts have been referred for this assignment, especially Ã¢â¬Å"International Accounting and Multinationa l EnterprisesÃ¢â¬ 6th edition by Radebaugh, Gray and Black, Ã¢â¬Å"International Financial Reporting: A Comparative ApproachÃ¢â¬ by Roberts, Weetman and Gordon, the US GAAP and IFRS websites, a number of specialised publications by PWC and Deloitte and the published accounts of many multinational corporations. Accounting statements and established practices are often subject to individual interpretation and the perusal of a number of texts has enabled the researcher to prepare a holistic assessment of the selected topics. Inputs from all these texts and publications have been used in the preparation of this paper. 2. Goodwill Goodwill arises as an intangible asset and comprises of the difference between the cost of an acquisition and the fair value of its identifiable assets, liabilities and contingent liabilities. A recent analysis by PricewaterhouseCoopers (PWC) estimates that intangible assets accounted for approximately 75 % of the purchased price of acquired compani es in recent years. Increasing attention is now being paid on the management of intangible assets and the IFRS3 has responded to this need by detailing accounting procedures for intangible assets. Goodwill makes up approximately two thirds of the value of intangible assets of US companies and the figure for companies registered in the EU would presumably be similar. Accounting of Goodwill arises in the case of acquisitions where the purchase price exceeds the net cost of purchased tangible assets, the monetary difference being attributed to goodwill and other intangible assets. IFRS procedures, unlike US GAAP, previously required the amortisation of goodwill over a specific number of years, thus establishing an artificial life for this asset. This procedure has since been changed and with the IFRS position converging with that of GAAP, goodwill is not considered to be a wasting asset anymore. It however needs to be emphasised that this refers only to goodwill obtained from acquis itions. Internally generated goodwill is not reflected as an asset either under IFRS or under US GAAP The IFRS enjoins companies to distinguish between goodwill and other identifiable intangible assets. As such the value of other intangible assets like Research and Development, Patents, Trademarks, Brands and others need to be removed from the goodwill basket to arrive at the residual goodwill value. The treatment of goodwill is different from other intangibles as, subject to periodic assessments for impairment, it is expected to maintain its value indefinitely. While both IFRS and US GAAP require goodwill to be valued, reconciled, detailed by way of factors and reflected in financial statements, they have dissimilar modes for its accounting treatment. a) Goodwill under IFRS Goodwill is not amortised any longer under IFRS procedures and is considered to be an asset with indefinite life. It however has to be subjected to a stringent impairment test, either annually, or at sh orter notice if the need arises, to assess for erosion in value. In the event of impairment, the Profit and Loss Account is charged with the computed impairment amount to ensure the immediate highlighting of poorly performing acquisitions. Goodwill is thus not seen as a steadily wasting asset but one with indefinite life; and with a value linked to the performance of the unit. Another significant change in the treatment of goodwill has arisen out of the requirement for treating all business combinations as purchases. This will eliminate the possibility of companiesÃ¢â¬â¢ not recording goodwill by pooling the assets and liabilities of various companies together for preparation of financial statements. The test for impairment of goodwill under the IFRS is carried out at the level of the Cash Generating Unit or a group of CGUs representing the lowest level at which internal managements monitor goodwill. The IFRS also stipulates that the level for assessing impairment must never be more than a business or a geographical segment. The test is a one stage process wherein the recoverable amount of the CGU is calculated on the basis of the higher of (a) the fair value less costs to sell or (b) the value in use, and then compared to the carrying amount. In case the assessed value is lesser than the carrying cost, an appropriate charge is made to the profit and loss account. The goodwill appropriated to the CGU is reduced pro rata. The IFRS requires detailed disclosures to be published regarding the annual impairment tests. These include the assumptions made for these tests, and the sensitivity of the results of the impairment tests to changes in these assumptions. M/s Radebaugh, Gray and Black, in their book Ã¢â¬Å"International Accounting and Multinational EnterprisesÃ¢â¬ stress that these disclosures are intended to give shareholders and financial analysts more information about acquisitions, their benefits to the acquiring company and the efficacy and r easonableness of impairment reviews. Negative goodwill arises when the cost of acquisition is less than the fair value of the identifiable assets, liabilities and contingent liabilities of the company. While its occurrence is rare, negative goodwill can well arise when loss making units are acquired or a distress sale gives a company the opportunity to acquire a bargain. In such cases IFRS procedures stipulate that the acquirer should reassess the identification and measurement of the acquireeÃ¢â¬â¢s identifiable assets, liabilities and contingent liabilities and the measurement of the cost of the combination. The excess of net assets over the cost should be recognized and taken to the profit and loss account, b) Goodwill under US GAAP Goodwill was treated as an asset with indefinite life by US GAAP even when IFRS procedures allowed for its amortisation. The change in IFRS procedures is a thus a desirable step towards convergence. In US GAAP, goodwill is reviewed for i mpairment at the operating level, which specifically indicates a business segment, or at a lower organisational level. In no case can an impairment assessment be made for a level higher than a business segment. Impairment must be carried out annually or even at shorter intervals, if events indicate that the recoverability of the carrying amount needs to be reassessed. While these requirements are similar to those stipulated by IFRS, the procedure for assessment of impairment is significantly different and comprises of two steps. In the first step the fair value is computed and compared with the carrying amount of the concerned unit including goodwill. If the book value is higher than the fair value, no further exercise is suggested and goodwill carried forward at the same value. If however the fair value of the reporting unit is lesser than its carrying amount, goodwill is considered to be impaired and the second step is applied. Goodwill impairment, under US GAAP, is measured by computing the excess of the carrying amount of goodwill over its fair value. The computation for this is fairly simple and constitutes of determining the fair value of goodwill by allocating fair value to the various assets and liabilities of the reporting unit, similar to the procedure used for the determination of goodwill in a business combination. The calculated erosion in goodwill needs to be shown specifically as an impairment charge in the computation of income. The assessment and treatment of negative goodwill is also somewhat different in US GAAP, even though the basic accounting principles are similar to that followed by IFRS. In this case the excess of fair value over the purchase price is allocated on a pro rata basis to all assets other than current assets, financial assets, assets that have been chosen for sale, prepaid pension investments and deferred taxes. Any negative goodwill remaining after this exercise is recognised as an extraordinary gain. 3. Intangibl e Assets other than Goodwill Intangible assets other than goodwill are identifiable non-monetary asset without physical substance. M/s Radebaugh, Gray and Black state that intangible assets need to be identifiable, under the control of the company and capable of providing future economic benefits. While formulation of appropriate modes of accounting for these assets pose challenges to accounting theory and concepts, their importance in business is significant enough to warrant the application of detailed accounting thought. All the texts consulted have devoted significant attention to the treatment of intangible assets. A July 2006 paper on Ã¢â¬Å"Accounting Standards regarding Intellectual and other Intangible AssetsÃ¢â¬ by Halsey Bullen and Regenia Cafini of the United Nations Department of Economic and Social Affairs is also very explanatory and deals with the subject both in depth and with comprehensiveness. This section deals with the similarities and dissimilaritie s under US GAAP and IFRS for specific intangible assets e.g. Research and Development Costs, Brands, Trademarks and Patents. While the growing importance of intangible assets call for their inclusion in financial statements, their intrinsic nature makes it difficult to do so. Firstly, there is little connection between the costs incurred for creation of intangibles and their value. Second, it is also difficult to predict the extent of benefits that intangibles will be able to deliver. Both the IFRS and US GAAP have certain commonalities in the accounting treatment of intangible assets. In case of acquisitions, managements are enjoined to isolate specific intangible assets and value them separately from goodwill. All these assets have to be identified, valued and indicated separately in the balance sheet. The list of intangible assets that need to be recognised separately, as a result of IFRS 3 is extensive and includes a host of things like patents, brands, trademarks and compute r software. IFRS 3 demands that the identification and valuation of intangible assets should be a rigorous process. Experts however feel that while valuing intangibles is essentially associated with subjectivity, logical mental application and the use of working sheets should be able to satisfy the demands of regulators. IFRS and US GAAP classify intangible assets, other than goodwill, into assets with limited useful life and assets with indefinite useful life. Assets with finite life are amortised over their useful life. While arbitrary ceilings are not specified on the useful life of those assets, they still need to be tested for impairment every year. An asset is classified as an asset with indefinite useful life if there is no probable limit to the period over which it will benefit the firm. It is however rare for intangible assets other than goodwill to have indefinite useful lives and most intangibles are amortised over their expected useful lives. Assets with indefinite li ves have to be subjected to rigorous annual impairment tests. The fact that most intangible assets (other than goodwill) are amortised over their expected useful lives requires the determination of the expected useful life of each of the assets acquired. The general principles detailed above are common to both IFRS and US GAAP and are useful in determining the broad procedures for accounting and disclosure of intangible assets. As previously elaborated, accounting treatment primarily depends upon the determination of the life of an intangible asset, more specifically whether it has an indefinite or finite measurable life. All intangibles are governed by the same sets of disclosure requirements. Accordingly, financial statements should indicate the useful life or amortisation rate, amortisation method, gross carrying amount, accumulated amortisation and impairment losses, reconciliation of the carrying amount at the beginning and the end of the period, and the basis for determi ning that an intangible has an indefinite life Apart from these requirements, the differences, detailed below, between US GAAP and IFRS in the treatment of Research and Development costs, Brands, Trade Marks and Patents, also need consideration. a) Research and Development Costs IFRS procedures call for expensing of all research cost. Development costs are however assessed for valuation of long term benefits and, amortised over their determined benefit period. Capitalisation of development costs is allowed only when development efforts result in the creation of an identifiable asset, e.g. software or processes, whose beneficial life and costs can be measured reliably. If however a Research and Development project is purchased, IFRS provides for the treatment of the whole amount as an asset, even though part of the cost reflects research expenses. In the case of further costs being incurred on the project after its purchase, research costs will need to be expensed out while development costs will be eligible for capitalisation, subject to their meeting the required criteria. US GAAP however stipulates that all Research and Development costs be immediately charged to expenses. Certain development costs pertaining to website and software development are however allowed to be capitalised. Research and Development assets, if acquired are valued at fair value under the purchase method. However if the assets do not have any alternate use they are immediately charged to expense. Both PWC and Deloitte publications opine that US GAAP will most probably move towards the IFRS position on Research and Development as part of the short term convergence exercise. b) Brands The treatment of Brands is similar under both US GAAP and IFRS norms. It has been specifically clarified that the value of brands generated internally should not be reflected in financial statements. In case of brands obtained through purchase or acquisition the value of the brand wi ll have to be computed at cost or fair value and it will need to be determined whether the life of the brand is indefinite or finite. Brands with indefinite lives will need to be subjected to rigorous impairment tests every year, and treated like goodwill. Brands with finite lives, while subject to yearly impairment tests, will need to be amortised like other intangible assets. It needs to be noted that the mode of assessment of impairment in US GAAP is different from IFRS and this factor will accordingly come into play for assessment of impairment. c) Trademarks and Patents The costs of Patents and Trademarks, when developed and obtained internally comprise, mostly of legal and administrative costs incurred with their filing and registration and are expensed out as regular legal or administrative costs. The IFRS specifies that no revaluation is possible for Trademarks and Patents in accordance with IAS 38. This is because an active market cannot exist for brands, newspaper mastheads, music and film publishing rights, patents, or trademarks, as each such asset is unique. In the case of patents and trademarks obtained through acquisition, the treatment is similar to the broad category of intangible assets, for identification, valuation, measurement and recognition for purposes of separate disclosure. Acquired patents and trademarks are measured initially at purchase cost and are amortized on a straight-line basis over their estimated useful lives. DonÃ¢â¬â¢t waste time! Our writers will create an original "The globalised business" essay for you Create order
Wednesday, May 6, 2020
Seniority plays an indispensable role in the military. Rank is highly important because their efficiency of getting things done depends on fast commands corresponding fast implementation. That is why leadership here is very crucial. We will write a custom essay sample on Healthy Combination or any similar topic only for you Order Now One does not easily get promoted or get his own ship to command. Despite the fact that everyone already looks up to you and no matter how worked yourself off, these simply arenÃ¢â¬â¢t enough. 1 Like what The Captain said to Lt. Tyler, one has to Ã¢â¬Å"be able to make hard decisions based on imperative information asking men to carry out orders that result to their deaths. Ã¢â¬ Because the true test of being a soldier-leader is not only willingness to lay his own life on the line for his men, not only his bravery, but his strength to have to lay someone elseÃ¢â¬â¢s life for the crew, for the mission and then, at the end of the day, having to pay for its consequences. In U-571 (2000), maybe the character that noticeably best depicted being an astounding leader and, at the same time a follower, is The Chief. Being somewhat a middleman between the new Captain and the crew, during their battle with the Nazis, Chief, in his years in combat, was able to successfully be a good leader and follower whenever the times demanded it of him. Some of the crewmen might have thought that, when The Captain died when the S33 was blown up, The Chief was the one that should take command instead of the much younger Lt. Tyler. Once, a crew member kept saying Ã¢â¬Å"Ã¢â¬ ¦this is crazy, this is crazyÃ¢â¬ ¦ heÃ¢â¬â¢s gonna get us killedÃ¢â¬ ¦ Ã¢â¬ to the idea that Lt. Tyler didnÃ¢â¬â¢t want to use the NaziÃ¢â¬â¢s Enigma to radio for help. The Chief said, Ã¢â¬Å"Navy said itÃ¢â¬â¢s more important than you, him, meÃ¢â¬âfine. WeÃ¢â¬â¢re gonna die trying. That ainÃ¢â¬â¢t crazy. ThatÃ¢â¬â¢s our job. Ã¢â¬ The stubborn crewman responds with Ã¢â¬Å"what I donÃ¢â¬â¢t seem to understand Chief, is how come youÃ¢â¬â¢re not in-charge. Ã¢â¬ In the middle of his blabbering on about ____________________ 1. Military Rank. . Retrieved July 29, 2008 from http://www. militaryspot. com/military-rank. htm 1 why Tyler shouldnÃ¢â¬â¢t be in command, The Chief suddenly grabbed hold of his shirt and held him by the neck. Ã¢â¬Å"Lt. Tyler is your commanding officer and you will respect that man as such. Ã¢â¬ In this particular scene, The Chief was a leader in a sense that he recognizes when a crewman needs some straightening up and, also he is a very good follower in a sense that he defended the superior being insulted at the back. At these moments, he displayed glory when he was effortlessly able to go over the praises, and get down to serious business. His principles are unwavering, unconditional. Attitude such as these give a command consistency and action in highly unfavorable situations such as battlefields. Contrary to conventional point of view, being a follower and a leader seems to be much more of a role played in an interrelated way than a role as played in completely opposite ways. Yes, one cannot be a leader without being a follower and following cannot be without leading. To be able to fully understand one, one has to understand the other, or both will not stand. One cannot exist without the other; they complete each other. In the context of this film, or life in general for that matter, it is impossible to discuss leadership without discussing followership, and vice versa. 2 This concept can be seen in the persona of the Chief. The concept of leadership and followership is healthily embedded in The ChiefÃ¢â¬â¢s heart and mind, and through this, he is able to contribute significantly to the welfare of the crew and the accomplishment of the mission. If too many soldiers were to lack this, it will Ã¢â¬Å"kill a crew. Ã¢â¬ Doubt is a given when there are high risks involved. Playing with the lives of men is never easy. There are a lot of gray areas, areas where a soldier is confronted with dilemmas. The Chief experienced this at 160 meters below water surface. Despite the risks involved The _____________________ 2. Lt Col Sharon M. Latour and Lt Col Vicki J. Rast, Ã¢â¬Å"Dynamic Followership,Ã¢â¬ (2004) Retrieved July 29, 2008 from http://www. govleaders. org/dynamic_followership. htm. Chief followed Lt. Tyler to dive the extra meters. If Lt. Tyler made a mistake in his calculations or estimations, they all couldÃ¢â¬â¢ve drowned when the submarine barely held itself together under the pressure of 200 meters underwater. But they were lucky. What seemed to be wrong turned out to be right. In reality, perhaps it is much harder to choose. A young enlisted officer also came to this situation, where his ability to follow was thinning. Lt. Tyler had to order him to swim under the flooded pipes and tighten those that need tightening so that a torpedo can be launched. Obeying might kill him and not obeying might kill the crew. This time though, it wasnÃ¢â¬â¢t as happy an ending as The ChiefÃ¢â¬â¢s was when he followed orders. The kid drowned. They were able to beat the enemy but they sacrificed a life. There are no clear lines as to which extents will a soldier follow or not. There are no set qualifications as to who must go first. Maybe there never will. But one thing is clear, leading or following, the sake of the crew as a whole must be put first before an individualÃ¢â¬â¢s, the countryÃ¢â¬â¢s first before the self. ____________________ 1. Lt Col Sharon M. Latour and Lt Col Vicki J. Rast, Ã¢â¬Å"Dynamic Followership,Ã¢â¬ (2004) Retrieved July 29, 2008 from http://www. govleaders. org/dynamic_followership. htm. 2. Military Rank. . Retrieved July 29, 2008 from http://www. militaryspot. com/military-rank. htm BIBLIOGRAPHY Lt Col Latour, Sharon M. and Lt Col Rast, Vicki J. Dynamic Followership. Retrieved July 29, 2008 from http://www. govleaders. org/dynamic_followership. htm, 2004. Military Rank. Retrieved July 29, 2008 from http://www. militaryspot. com/military-rank. htm, 2004. How to cite Healthy Combination, Papers
Saturday, May 2, 2020
Question: Write an essay on Legalization of Marijuana drug and Public Health Policy and Management? Answer: Introduction: Marijuana is a popular drug, which is used by the people from many years ago. Some county use it in case of worship of their Gods. But it has a medico legal aspect. Medical science and law both the subject are connected with the use of this drug. If we consider the case of USA the federal law abolishes any kind of use of this drug. But some states under their own authority legalize the use of marijuana is certain aspects. Law basically wants to prohibit the use because it create lots of criminal activities like drug trafficking or breaking rule of committing crimes after the consumption. But in some medical case this drug is used as medicine so some state give their positive attitude towards the legalization. Considering the medical aspects of marijuana, it can be given a thought of legalizing the drug for its immense productive effects on diseases as HIV for pain reduction, cancer for anorexia reduction and its spasticity with multiple sclerosis. However, there are large numbers of adverse effects that the legalization of marijuana has on the overall societal health (Theforum.sph.harvard.edu, 2015). This study thus intends to reflect the relevant facts and details about the drug relating to its effect on the public health. It also presents the unforeseen issues associated with marijuana. It presents sound knowledge of medical aspects of marijuana in relation to the public health and the legalization. Implications of legalization of Marijuana: Marijuana is drug which is very common for almost all the states of the world. Marijuana consumption is very common practice in youths as well as in other people. In most of the countries marijuana is a drug which can be access easily. Marijuana is legalized in different states for the process of medical treatment. In some states they argue that marijuana will increase the revenue. But the main fact is that it will actually harm the health of the people. In Different research in America shows that the legalization of this drug for medical uses actually has the negative effect on the health. Government legalize it so know it is easily available everywhere. No authority can restrict its use fully. The state wants to implement the law in such a manner that will actually helps the citizen but this kind of steps actually have no good implications on the health of the citizen. By the legalization of the drug use criminal networks somehow get the benefits of it. They incurred money from the selling of the illegal drugs but if it became laegalise they will get it in more quantities and gained much more profit. Actually along with the health issues the legalization also includes the criminal aspects. So it can be state that the impacts are many like social impacts, health impacts or the criminal aspects etc. Effects on public health: In current times, there is a rising support of legalizing marijuana in UK. The support refers to US where marijuana is held legal in some states for medicinal and recreational purposes. Hickenlooper (2014) pointed out the view of a portion of UK population stating that tax on marijuana is beneficial to the countrys economy. Institute for Social and Economic Research supports it through the report depicting an expected generation of 900 million for exchequer of Cannabis licensing and tax revenue (Morgan, 2015). However, there are protesters who seem to reveal a view considering the marijuana legalization as immoral and fatous. They highlight the association of marijuana use with severe mental and physical health problems. Recently the European Drug Agency presented their annual report stating the declining number of youths using Cannabis, but the legalization of marijuana will reverse the phenomenon adversely (Morgan, 2015). As per the report of WHO, teen age Cannabis users are seen to perform poor in exams. Sudden increase in availability of marijuana will lead to increased use among the youths thus detrimentally affecting their future prospects as well. According to Caulkins, Lee Kasunic (2012), increase in marijuana consumption due to its legalization will decrease the alcohol consumption affecting the public health immensely. Since the incidence of death due to alcohol consumption is high, its replacement with marijuana can prove beneficial to public health. In long-term, the alcohol causes violence and injuries, increased risk of cancer and cirrhosis. Marijuana legalization decreasing the alcohol consumption among public thereby reducing the detrimental effects of alcohol on health can negate the adverse effects of marijuana consumption increase. The fewer number of acute deaths occurring due to overdose of marijuana makes it much less detrimental than alcohol. Laws on Marijuana use currently: Controlled Substance Act, 1970 is the law of the state which helps to reduce, control the distribution and utilization of the drugs. If we consider the present trends in law of USA we can classify 3 major categories regarding the steps taken for the marijuana matters. First one is decriminalization, 2nd one is medical use of this specific drug (Porche, 2013) and the last one is legalization of the use in certain permitted quantities for entertainment purpose. Of the implementation of law it is essential to understand that decriminalization does not include the terms legalization. This step refers that the offender is now exempt from the criminal liability but civil liability remain the same. This provision restricts only to the small amount consumption or use of the drug. But some time the amount of penalty may conflict with the CSAct, 1970. In between USA, California became the first country which allows the medical use of this mentioned drug. Different other state also allows this kind o provisions. The mother Act that is CSAct, 1970 does not create any difference between the use of drug for medical purpose or for entertainment purpose. Prior to 2012 the use of drug for entertainment purpose is not at all allowed in the law of USA. But after that different states to some extent allow the use of drug to recreational purpose. But it restricts the amount to a prescribed limit (Deranek, 2014). But if any person exceeds the permitted limit ten they are liable for punishment or can be held legally accountable for the act. These measures are actually implemented for the better society. If the persons allowed for consuming this kind of drug basically it destroys the peace in the society. Variation of the laws state wise: Any kind of dealings with the marijuana like taking it into possession or sale it or cultivate it or transport the drug is and offence under the federal law USA (Finklea Sacco, 2014). But the government gives the relaxation to the states to enact or amend their own drug laws if they want. But subject the condition is that they have to maintain a standard regulation for the use of drugs like marijuana (Finklea Sacco, 2014). This mentioned drug is schedules as 1 under the federal legislation. According to this law there is no classification for medical use of marijuana because it is the highest related drug according to the federal laws. But in USA generally every state has their own laws and they implement and amend their laws according to their wish and needs. State level operation regarding the marijuana effect claims mixed success rate (Monte, Zane Heard, 2015). Some sates like Colorado, Oregon, Alaska and Washington completely legalize the use of marijuana for the medical purpo se (Monte, Zane Heard, 2015). Some states like Portland legalize it for medical purpose as well as for the entertainment or recreational uses (Porche, 2013). The state of Colombia also recognizes the uses for both the purpose but commercial dealing are not allowed. Some states only recognize its medical use only. Stats of Virgin Island recognized only the decriminalization process of the use of this mentioned drug. But some state in USA is remaining in favor of not legalizing the use of scheduled drug (Hickenlooper, 2014). They maintain the federal of mother drug rule in this context. But no state allows any kind of drug transportation of trafficking. Its an illegal act for more or less all the states. In the case of Gonzales v. Raich(Gonzales v. Raich, 2005)it was decided by the Supreme court of US the congress has no authority under commerce phrase of the federal law that is CSAct,1970. The federal law prevents the state law. In another land mark case Assenberg v. Anacortes Housing Authority (Assenberg v. Anacortes Housing Authority, 2015) Washington State Court of Appeals, 1st Div., 2007)) the court dismiss the eviction action by the landlord to his tenant for the use of marijuana. Effects of secondhand smoke: Second hand smoke is an issue that seems to spread throughout the multi unit dwellings. It is same for marijuana and tobacco smoke too. Sarna Bialous (2013) identifies the comprehensive smoke-free policies that are efficient in eliminating the problem. However, in executing the exception for the medical use of marijuana will lead to the recurrence of the problem of second hand smoke. Studies reveal the same level of danger to public health from secondhand smoke of marijuana as that from tobacco. The risks include heart and blood vessel damage, increased risk of heart attack due to hardening of arteries. Marijuana smoking also exposes the individual to atherosclerosis (Magill, 2011). In several studies, even the concerns as developing cancer and other illness due to the secondhand smoke of marijuana are evident. A contact high is the most common experience of a second hand marijuana smoker. It is highlighted in many cases recently that marijuana smoke has same potentiality to produce cancer in the secondhand smoker as the cigarette smoke can (Mail Online, 2014). It is thus clear that the secondhand smoke of marijuana, cigarette and incense all are potential in causing throat and lung cancer. Reasonable accommodations for medical Marijuana patients: Verdict from a federal district court depicts a negation of considering medical marijuana as a reasonable accommodation for patients with disability. Under the Fair Housing Act an individual is not entitled to a reasonable accommodation for medical marijuana since the drug is still a controlled substance under the federal law (Gold, 2012). It refers to the guidance from US department of Housing and Urban Development, 2011 considering individuals using medical marijuana and other illegal drugs as disqualified from relief pursuant to the FHA, section 504 of the Rehabilitation Act 1973 and the Disabilities Act as well. However, the law of Compassionate Care Act in July 2014 paves the way to use of medical marijuana by employees at workplace legally. It led to the rising concerns among employers regarding maintenance of a drug-free environment at workplace that clash with the employee right as per this law (Smith Harris, 2012). Medical conditions to prescribe Marijuana: As per the studies by Backus (2011), Marijuana or cannabis is found to be highly effective in benefiting the patients suffering from cancer, depression, AIDS, nausea and multiple sclerosis. It is particularly used in chemotherapy and other neurological disease interventions. It is assured by the Scottish long-term safety study. Sativex is the currently most known and applicable [reparation of cannabis for medical use. Its license from GW pharma is guaranteed by the MHRA (Medicine and Healthcare Products Regulatory Agency) (Knott, 2015). It is prescribed to the adult patients of multiple sclerosis to provide them relief from moderate to severe spasticity. Its prescription is executed when other anti-spasticity medications fails. It is prescribed to those patients demonstrating marked improvement to a trial therapy with Sativex. The medicinal use of marijuana as Sativex is also evident in treating cancer pain, non-PS neuropathic pain and MS bladder dysfunction (Knott, 2015). The developmental areas for medicinal use of marijuana involve peripheral neuropathy, spinal cord injury and rheumatoid arthritis. However, the patients below the age of 18 years are not prescribed marijuana. Its prescription strictly directs the initiation of use with 1 spray every 4 hours with a maximum of four sprays each day along with self-titrating as per response. Marijuana definition: As stated by Berlatsky (2012), the dried flowers, seeds, stems and leaves of the hemp plant Cannabis sativa are referred to as the marijuana. The chemical delta-9-tetrahydrocannabinol (THC) is the marihuana extract. It bears the property of mind altering. In US 2014, marijuana emerges as the most frequently used illegal drug. Use of marijuana extracts is evident in a variety of ways. These include smoking in hand rolled cigarettes, in water pipes, in emptied cigars, and taking the vapors only by using vaporizers. Newton (2013) highlights the marijuana consumption by mixing them in foods as candy, brownies or cookies and brewing it as tea. Nevertheless, the most recent method is consuming it in forms of THC-rich resins. This practice is widely known as dabbing. Marijuana is a plant drug that is capable of affecting the brain in both long-term and short-term effects. The THC of the marijuana extract is able to pass through the lung to the bloodstream of an individual on smoking marijuana. Through blood, it moves to the brain and other organs of the body. Tashkin (2013) asserted that the effects are delayed if marijuana is consumed in foods or drinks due to slower absorption by the body. THC finally affects specific brain cell receptors playing a significant role in the brain development and function. Some of the major and most frequently observed effects of marijuana smoking include mood changes, impaired memory, altered senses, and difficulty in problem-solving, thinking, and altered sense of time. The long-term effects include detrimental effect on brain development. Especially in teenagers consuming marijuana effects such as impaired thinking, learning and memory functions are evident. Magill (2011) identified the physical effects of marijuana smoking as breathing problems, increase in heart rate, and issues in pregnancy and child development. Along with the physical effects, marijuana also affects people mentally. Mental illnesses as schizophrenia, temporary hallucinations and temporary paranoia are evident in some users. Others include anxiety, depression and suicidal thoughts in the teenagers (Newton, 2013). Role of public health in Marijuana control: In UK, the use or possession of cannabis under MDA seems to result in fine, caution or warning for repeat offenders. The sensible, efficient and effective governmental laws, constitutional principles of equality and human rights and rational evidence-based policies and laws reflecting public opinion for respect and credibility is seen to effectively control the use of marijuana. As per the view put forward by Magill (2011), in the current situation leadership rather than new knowledge is essential in controlling marijuana use. The widespread acceptance of marijuana for medicinal and recreationary purposes, especially by the youths and patients is a major constraint in controlling the uses of marijuana in respect to the public health. However as opined by Knott (2015), the identification of the serious adverse effects of uncontrolled use of marijuana on health of the individuals drives the public towards implementing the strict cautionary rules for consuming marijuana. The public health therefore is an eminent factor playing a major role in controlling the use of marijuana effectively. Present policies for Marijuana control: The state and central both took different initiatives and policies for the control of drug use. The ministry of justice announces different programs relating to the identification of the major drug trafficking areas because this kind of offence relates to larger criminal activities in the state. The federal government with collaboration with the other states tries to eradicate the trafficking of the drugs (Morgan, 2015). The criminal associations of the state generally undertake these activities. For this, different steps are taken. Identifying the highly probable drugs, trafficking area is one of the major programs. This program helps the law implementing agencies to enforce law in the vulnerable areas of the state. They help three level of government such as federal, state and local authorities. The main work of this policy is to promote the collaboration and gather information about the areas, create collaborates between all levels of government, give dependable solution to the la w enforcing authorities. Along with that they also promote different strategies regarding the resources which aided he illegal trafficking of drugs. Another important step is Organized Crime Drug Enforce Task Force Progra (Finklea Sacco, 2014). This policy helps to eradicate the drug trafficking and black money transactions regarding the drug related issues. Domestic marijuana control program is also a great policy for the eradication of this scheduled drug. Future implications: Marijuana is illegal in different countries of the world. Some though legalize it for certain medical purpose. This drug has a greatest impact in human health. It affects the human in their future also. Different studies and enquiry proved that it affects the human brain also. It creates risk to the mental health to the children as well as to the adults (Joffe Yancy, 2004). Short term memory loss, partial memory loss can be the side effects of this. If a person consumes it regularly in long run it will damage the activity of nervous system of the human. The medical associations describes that the consumption create the habit of more consumption. The person became addicted to it and cant lead his daily life without the use of this drug. In long run ultimately it will harm the person severely. Though the medical researcher claim that it does not create any major mental disorder but to some extent it aided the process. It can be the cause of psychosis, sever anxiety, schizophrenia, depression, abnormal manias or suicidal tendencies (Musto, 1999). It affects the lungs, nervous system or other parts of the body as well. Some researches draw a line connection with the marijuana and some kinds of cancer. Thought it was not proved worldwide but a thin connection was present there. Readiness for future implications: Considering the aspect of using marijuana in recreation and drug treatments, it is vital to educate the people regarding the severe consequences of marijuana over dose. Since medical studies reveal the prospective beneficial effect of marijuana on patients suffering from cancer, Multiple sclerosis and AIDS, complete banning marijuana is not a valid option. Therefore, the laws and policies are framed in a way such that the use of marijuana is enforced in a controlled manner. Hickenlooper (2014) highlighted the prevalence of legislatures empowering the public the use marijuana for medical purposes legally. This may lead to severe difficulty for the employers to maintain a drug free environment at work place. According to Gold (2012), spreading awareness among public about honest and controlled use of marijuana for the safety of their own health is highly significant in the current scenario. This will lead to a prospective and efficient use of marijuana for the greater benefits of public health. It will negate the adverse effects of marijuana largely. Although the current policies efficiently restrict the people from marijuana over dose, yet stricter policies are necessary to employ a proper use of marijuana by the public at their own will. Unforeseen problems: One of the major unforeseen problems of using marijuana is that of a massive detrimental effect on the quality of life of the public consuming the drug. Apart from the prominent physical health problems, the mental health of the public consuming marijuana can also be affected immensely. People using marijuana on a frequent or regular basic are seen to report psychological issues as poor mental health, lower life satisfaction relationship problems, poor academic results and career success (Caulkins, Lee Kasunic, 2012). The legalization of marijuana use can drive the users towards an addiction of the drug. It is highly detrimental not only to the individuals health but also for the overall health status of the country. It is a matter of high concern since it affects mainly the younger generation of the society who represents the countrys future health and prospect. Conclusion: It can be concluded that the use of this drug can affect the human mind and body. Along with that it can be claimed that the drug consumption initiates other criminal activities too. Medical use is legalized it as to be kept in to the mind that the use of drug for amusement purpose is not necessary. It will somehow give the permission to break laws. The federal law of USA prohibits and controls the use of marijuana. The collaboration between the central, state and local authority will help to achieve proper goal in this aspect. Going through the current study it is clear that although marijuana have some highly beneficial medical prospects in treatment of penitents suffering from serious diseases, yet its over use can lead to concerning health issues. Since it is an effective drug so it can not be banned completely. However, the study highlights the need the spreading awareness among the public regarding the adverse effects of marijuana in order to assure its controlled use. Thus it can be concluded that the relevant laws and policies along with education and health informations can drive an optimum use of marijuana for the overall benefits of the society. References: Assenberg v. Anacortes Housing Authority, 268 268 Fed.Appx. 643 C.A.9 643 (C.A.9 2015). Backus, F. (2011). Marijuana and medical marijuana. New York: CBS News. Berlatsky, N. (2012). Marijuana. Farmington Hills, MI: Greenhaven Press. Caulkins, J., Coulson, C., Farber, C., Vesely, J. (2012). Marijuana Legalization: Certainty, Impossibility, Both, or Neither?. Journal Of Drug Policy Analysis, 5(1), 1-27. doi:10.1515/1941-2851.1035 Caulkins, J., Lee, M., Kasunic, A. (2012). Marijuana Legalization: Lessons from the 2012 State Proposals. WHM, 4(3-4), 4-34. doi:10.1002/wmh3.2 Deadiversion.usdoj.gov,. (2015). Resources - Title 21 United States Code (USC) Controlled Substances Act - Section 801-971. Retrieved 27 April 2015, from https://www.deadiversion.usdoj.gov/21cfr/21usc/ Deranek, M. (2014). Fact and Fiction in the Marijuana Legalization Debate. Alcoholism Treatment Quarterly, 32(1), 104-106. doi:10.1080/07347324.2013.831693 Finklea, K., Sacco, L. (2014). State Marijuana Legalization Initiatives: Implications for Federal Law Enforcement. CRS Report for Congress. Retrieved from https://fas.org/sgp/crs/misc/R43164.pdf Gold, J. (2012). Educational efforts around medical marijuana: Thoughts to contemplate for patients and providers. Mental Health Clinician, 1(12), 301-302. doi:10.9740/mhc.n109221 Gonzales v. Raich, 545 U.S.1 50 (2005). Hickenlooper, G. (2014). Experimenting with Pot: The State of Colorado's Legalization of Marijuana. Milbank Quarterly, 92(2), 243-249. doi:10.1111/1468-0009.12056 Joffe, A., Yancy, W. (2004). Legalization of Marijuana: Potential Impact on Youth. PEDIATRICS, 113(6), e632-e638. doi:10.1542/peds.113.6.e632 Knott, D. (2015). Abuse and Use of Cannabis. Free Information. Patient | Patient.co.uk. Patient.co.uk. Retrieved 27 April 2015, from https://www.patient.co.uk/doctor/cannabis-use-and-abuse Magill, E. (2011). Drug information for teens. Detroit: Omnigraphics. Mail Online,. (2014). Secondhand marijuana smoke is 'just as dangerous as cigarette smoke. Retrieved 27 April 2015, from https://www.dailymail.co.uk/health/article-2838175/Secondhand-marijuana-smoke-just-dangerous-passive-cigarette-smoke-scientists-warn.html Monte, A., Zane, R., Heard, K. (2015). The Implications of Marijuana Legalization in Colorado. JAMA, 313(3), 241. doi:10.1001/jama.2014.17057 Morgan, J. (2015). Legalising cannabis: its possible impact and consequences. The Upcoming. Retrieved 27 April 2015, from https://www.theupcoming.co.uk/2015/02/27/legalising-cannabis-its-possible-impact-and-consequences/ Musto, D. (1999). The American disease. New York: Oxford University Press. Newton, D. (2013). Marijuana. Santa Barbara, Calif.: ABC-CLIO. Porche, D. (2013). Legalization of Medical Marijuana (Cannabis). American Journal Of Men's Health, 7(6), 449-449. doi:10.1177/1557988313504104 Sarna, L., Bialous, S. (2013). Resolution: Smoke-free campus policies for schools ofnursing and college campuses. Nursing Outlook, 61(3), 183. doi:10.1016/j.outlook.2013.04.002 Smith, K., Harris, L. (2012). Employers' obligations to provide reasonable accommodations. Employment Relations Today, 39(3), 97-104. doi:10.1002/ert.21381 Tashkin, D. (2013). Effects of Marijuana Smoking on the Lung. Annals ATS, 10(3), 239-247. doi:10.1513/annalsats.201212-127fr Theforum.sph.harvard.edu,. (2015). Legalizing Marijuana | The Forum at Harvard T. H. Chan School of Public Health. Retrieved 27 April 2015, from https://theforum.sph.harvard.edu/events/legalizing-marijuana/
Monday, March 23, 2020
Market Strategy Little Angels Nursery Daycare CenterÃ¢â¬â¢s program is currently being publicized to the community at two levels, i.e. the state level and the local level. Prince Mohammed University in Khobar has a link in its website that has information with regard to Little Angels Nursery Daycare program (Pride, Hughes, Kapoor, 2012). This information can be accessed by interested parents who want to bring their children on board.Advertising We will write a custom term paper sample on Nursery Business Plan specifically for you for only $16.05 $11/page Learn More The information on the link includes the list of services or programs that are offered by the daycare; in addition, a list of frequently asked questions is also included in the information. Apart from the link on Prince Mohammed UniversityÃ¢â¬â¢s website, Little Angels Nursery Daycare Center also uses brochures or flyers as a way of advertising itself to the interested parents. Marketing of the nursery daycare aims at creating more awareness to the parents through advertisement and campaigns. In addition, the marketing strategies seek to increase the number of admitted children into the program. Nonetheless, marketing is very beneficial as it seeks to inform the target audience about the salient features of the nursery daycare programs and the competitive advantages; this will help in erasing all the doubts that the parents may be having with regard to the programs and services offered. The entire staff members of Little Angels Nursery Daycare Center have been efficiently trained and they know their roles with regard to the marketing strategies of the organization (Madura, 2007). Children from poor families are often signed up through family support staff. The family support staff members have a role to play in terms of advertising the nursery daycareÃ¢â¬â¢s programs and service to the poor parents and advising them on their qualifications and the procedure for ap plying for the child care programs. Management Little Angels Nursery Daycare Center will adopt a Ã¢â¬ËManagement by ObjectivesÃ¢â¬â¢ approach, whereby it will develop committed employees who are aware of their roles and services and also the mission and vision of the institution. Therefore, the employees will be motivated to work hard with the aim of achieving the mission and objective of the institution.Advertising Looking for term paper on health medicine? Let's see if we can help you! Get your first paper with 15% OFF Learn More This management approach sets out SMART (Specific, Measurable, Achievable, Relevant and Time bound) objectives to the employees and it will also improve on communication and coordination; thus, feedbacks will be received constantly. The management style will also provide for constant participation of all the employees as they will be required to take part in setting the targets or goals to be achieved by the institution; thus, a person will not feel left out or overlooked. The members of staff will be so attached to the values of the institution which will make them have a strong organizational culture. This is because the values are so precise and they will have no difficulty in embracing them. The management will be strong and efficient and will provide for quality leadership. No employee will be more equal than the other, thus they will all be treated equally and fairly with much respect. The directors will all be available and reachable. The employees will be committed to their work and they will strive to maintain the values and the morals of the institution at all times. This management style will be more beneficial to the parents who intend to have more than one child on the program. This is due to the fact that, when the parents have a busy schedule, they will always resort to nursery daycare centers that offer services for extended hour. With this kind of management style in place, the parents will not fe ar to leave their children for long hours in the nursery daycare. Little Angels Nursery Daycare Center intends to recruit qualified and able teachers to spearhead the programs in the facility. With this regard, the amount of remunerations that the teachers will be offered will match the ones offered to the public school teachers. In addition, the teachers will be remunerated as per their levels of teaching experience and as per their contributions and effectiveness to the nursery daycare; therefore, their salaries are not expected to be the same all through. An attractive salary package is aimed at attracting the best teaching talent in the field and this too has a positive effect on the nursery daycareÃ¢â¬â¢s success.Advertising We will write a custom term paper sample on Nursery Business Plan specifically for you for only $16.05 $11/page Learn More Financial Sources and Uses Presently, there are two main flows of funds into Little Angels Nursery Day care Center. The first flow of funds is through the State Aid program. The other flow of funds is through Financial Grants. The State Aid program funds a major part of the institution, about 60 percent. The other remaining bit is funded through Financial Grants. The State Aid funds are used to meet the cost of paying the teachers their salaries and other benefits and the cost of building or renovating the classrooms. The Financial Grant funds are used to meet the cost of transporting materials into the nursery daycare, the cost of maintaining the premises and the costs of paying overtime work to the teachers. There are various conditions for a nursery daycare center to qualify to access the Financial Grant programs. One of the conditions is for the nursery daycare center to demonstrate that their projects are viable and committed toward the well being of the institution. There are a team of auditors and supervisors in place to make sure that the funds are efficiently used and are no t misappropriated in any way. The other remaining source of finance for Little Angels Nursery Daycare Center is through fees paid by the parents for the upkeep of their children within the institution. These funds are actually used for purchasing books and other learning materials for the children. In addition, the funds are also used to buy sporting equipments to be used for the physical development of the children. Academic and social trips are also financed by the funds collected from the fees paid by the parents. A summary of the financial sources is in the table below. Little Angels Nursery Daycare Center, Full-day Nursery and Daycare Center Advertising Looking for term paper on health medicine? Let's see if we can help you! Get your first paper with 15% OFF Learn More Budgeting Process A budget process entails how an organization constructs and endorses a budget. Budgeting is a long process as it entails distributing expenditure equivalently among the various departments or sectors of the organization. In budgeting, capital is apportioned in a manner that enables the organization to achieve its financial objectives. In Little Angels Nursery Daycare Center, budgeting is set up to cover all the financial shortcomings and also prepare the organization to meet the future investment plans in a focused manner. The practicability of budgeting is in line with the long term strategic plans of the organization. When budgeting is done in an appropriate manner, all the financial goals of the company will be captured. The budget guides the organization to accomplish investment plans since only relevant items are included in the budget. Just like many organizations, the budgeting process in Little Angels Nursery Daycare Center is initiated from the Finance Dep artment. The Finance Department designs spreadsheets that aim at guiding the departmental head to put in order a good quality budget. After the Finance Department has designed the spreadsheets, the Daycare Administrator sits in a meeting with the various departmental heads, who submit their budget estimates for the next financial year. After that, the Finance Department works out the cost estimates of the various proposals submitted by the departmental heads as they prepare the budget. After the budget is completed, it is forwarded to the hospital administrator and other top managers for evaluation and endorsement. The last stage of the budget process is the approval of the budget. The Daycare Administrator agrees to the request by the Finance Department concerning the list of expenditures proposed. Budgeting plays a very vital role in the organization as it sets out economic objectives to steer the organization forward. The budget has to be endorsed by the administration before bei ng implemented. Different departments have different needs; therefore, the budget is not the same for each department. A proper budgeting ensures that the organizationÃ¢â¬â¢s goals and policies are preserved and maintained. This is beneficial to the organization since the nursery daycare is viewed by the society as to be playing a major role in safeguarding the welfare of the little children in the society. Management of the funds Little Angels Nursery Daycare will come up with a funds management process that will scrutinize the budgets and proposals and ensure that there is proper allocation of the funds to the various sectors of the institution. It will be required that before any funds are disbursed, a full application form is filled and it will have to be approved by the relevant committee in charge. Only urgent and relevant budget proposals will be approved by the committee. The committee will ensure that the funds are properly allocated and managed so as to avoid any misappr opriations. A proper audit team will be in place to counter check the management of the funds. The auditors will have to make a report at the end of every financial year of the institution so as the measure the progress of the nursery daycare by comparing it to the previous yearÃ¢â¬â¢s results. When the funds are properly managed, the daycare will be in a good position to attract more Financial Grants and State Aid programs. Monitoring and Accountability Little Angels Nursery Daycare Center is expected to be strict when it comes to handling of its financial resources. The funds flow directly into the institution and all financial decisions are made by the management of the institution. It is, therefore, imperative upon the management to come up with a proper monitoring and evaluation program to oversee the management of the funds and to ensure that the audit team performs an efficient and satisfactory work. A proper monitoring and evaluation program will keep the institution on it s toes and will further boost the confidence and the faith that the parents have with regard to the daycare. When this happens, many more children will be admitted to Little Angels Nursery Daycare Center and in the process the flow of funds into the institution will rapidly rise. The monitoring and evaluation process will ensure that the financial management of the institution is in compliance with the stipulated regulation framework. With this regard, the monitoring and evaluation team will conduct longitudinal surveys in order to assess the social responses of the children in the Little Angels Nursery Daycare Center. The outcome of the survey will put the institution in a good position to make recommendations as per the needs of the children. In addition, the outcome of the survey will reveal the shortcomings of the institution and further help with the planning process so that the institution can move forward and maintain a positive track record. Conclusion Little Angels Nursery Daycare Center aims at becoming the leading nursery daycare center in the region. As well stipulated in the mission statement which fosters a full-time safe and fun environment for the children of the university staff and children of the students; the staff members are very qualified to provide a favorable environment for the development of the children. The goals of the institution are in line with the mission and they aim at promoting the childrenÃ¢â¬â¢s social and physical development through a combination of indoor and outdoor activities. The daycare will come up with an efficient marketing strategy and an elaborate management system in order to oversee the development of the organization. The budgeting process is done internally and efficiently. Budgeting plays a crucial role toward the financial planning of the institution, thus, a well planned monitoring and evaluation team will ensure that all protocols are given maximum consideration. References Madura, J. (2007). Introdu ction to business. Mason, OH: Thompson/South-Western. Pride, W. M., Hughes, R. J., Kapoor, J. R. (2012). Business. Mason, OH: South-Western/Cengage Learning. This term paper on Nursery Business Plan was written and submitted by user Bobby B. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here. Nursery Business Plan Executive Summary The business plan is on the baby care service industry targeting the children of the PMU University in Khobar. It is a partnership business with five members were capital will be individually contributed. It will provide the baby care services to babies of the age 0-5 years.Advertising We will write a custom term paper sample on Nursery Business Plan specifically for you for only $16.05 $11/page Learn More The mission of the Little Angels Nursery Daycare Center is to provide full-time services and fun environment to the children of the university staff and students. This will be achieved through putting clientsÃ¢â¬â¢ needs first and offer of quality services. The services provided will be distributed along the different age groups (0-1, 1-2, 2-3, and 3-5 years). General description The business enterprise will be in the baby care industry where baby care services will be provided to the children of age zero to five years. The business enterprise will be named The Little Angels Nursery Daycare Center. It will target the children of the staff at PMU University in Khobar and those of the students who are mostly foreigners. The business enterprise is a Partnership Company that will be co-owned by five members. The strength of the company is that it will have skilled employees and administration that would ensure that all the goals and objectives are achieved. It will be funded through partnership contribution who will also act as the administrators. Mission statement The focus of the little angles nursery daycare center is to provide a full-time safe and fun environment for the children of our university staff and students. Moreover, our qualified faculty will provide a respectful treatment and a rich learning process which promotes each childÃ¢â¬â¢s social, physical and emotional development. Company goals The goal of the Little Angels Nursery Daycare Center is to create a safe environment in a friendly homelike atmosphere for children of ages between 0-5 years. Objectives The objectives of Little Angels Nursery Daycare Center are:Advertising Looking for term paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More To determine the value of play in childrenÃ¢â¬â¢s learning and development processes. To have a combined environment by sharing information and building a relationship with the parents. To promote childrenÃ¢â¬â¢s social and physical development through the combination of indoor and outdoor activities To build self-esteem and confidence personalities among the children Keys to Success Put the needs of our clients first as we belief in customer satisfaction through quality services. Company Profile The Company Ownership is a co-owned enterprise with five members. After seeing the need to take care of young children, the members have partnered forming The Little Angles Nursery Daycare Center. The reason why partners hip was chosen was based on the issue of raising adequate startup capital. Each member will be a general partner meaning they shall be active on day to day activities (Pride, Hughes, Kapoor, 2012). They also wanted to take advantage of the different membersÃ¢â¬â¢ educational backgrounds, skills, and experiences for effective running of the institution. Advantages of a business partnership are that is allows members to share responsibilities based on their skills, and raise adequate capital. In addition, it offers varied and diverse decisions which are essential for business running (Madura, 2007). In case of any losses, the partners usually share them equally (Madura, 2007). Start-up Plan Each of the members will contribute equal amount of capital for leasing the housing facilities and running the business enterprise. Depending on their different skills and educational backgrounds, each member will undertake their field of interest and specialty to encourage division of labor and specialization. Benefits, salaries, bonuses, and profits will be equally shared among the partners. The company will hire specialized baby care takers whom are mostly mothers. Willing employees of The Little Angles Nursery Daycare Center will undergo health screening as well as educational training catered by the business. This is aimed at increasing the competitive advantage of the company by offering quality service. Company Locations and Facilities The Little Angles Nursery Daycare Center will be located at the PMU University in Khobar. The business enterprise targets children of the university staff as well as those of the university students. The children being taken care of are of the age zero to five years old. The Little Angels Nursery Daycare Center will provide educational and physical facilities to help promote each childÃ¢â¬â¢s social, physical and emotional development. Different rooms will be available to cater for the different children age groups at different age groups. Products and Services Services and Service Description The Little Angles Nursery Daycare Center located at the PMU University in Khobar will provide recreational, physical and educational facilities to the children of ages between 0-5. These are the children of the University staffs who reside within the premises of the educational facility as well as those of the students. The services provided in the little angles and nursery and daycare will depend on the age limits as children of different ages require different services as advised in BTEC First ChildrenÃ¢â¬â¢s Care, Learning and Development.Advertising We will write a custom term paper sample on Nursery Business Plan specifically for you for only $16.05 $11/page Learn More 0-1 years This is a tender age group that will be taken care of by the Little AngelsÃ¢â¬â¢ Nursery Daycare Center. Children at this stage require a lot of attention and care (Understanding childrenÃ¢â¬â¢s develop ment, n. d., Para. 4). There rooms will be homely with soft furnishing, duvets, cushions and nursery furniture like baby walkers. The rooms will be well colored with scattered toys around the childrenÃ¢â¬â¢s bedrooms and others hanging on the ceiling. The employed staff will be responsible for holding and talking to the babies. To ensure that the children get the best services, the ratio of baby care staff will be one to three. The work system will ensure that each child familiarizes with their Ã¢â¬ËnannyÃ¢â¬â¢. The staff members of the Little AngelsÃ¢â¬â¢ Nursery Daycare Center are well trained and most of them will be mothers themselves. Since the nursery and baby care is located within the learning institution, parents will be allowed to check on their babies anytime for assurance purposes. They will also be allowed to call in anytime to check up on their children welfare. Other services offered include settling in period which is of about one to two weeks that would allo w the baby to familiarize with the new environmental condition and our staff. At the end of the day when the parents will be collecting their babies, they will be offered with a daily operational sheet showing the following: The activities the child has enjoyed and done on that particular day. The number of nappies or pampers used in that day. The condition of the baby physically and social wise. The food calories taken and the liters of water taken. When the child reaches one year will be moved to the adjacent rooms that hosts toddlers of ages of between 12 to 24 months. However, the moving up will depend on the childÃ¢â¬â¢s development abilities like mobility. It will also depend on the childÃ¢â¬â¢s needs as well as their health and socializing abilities. The child will be familiarized with the rooms before being moved. 1-2 years The children under this age bracket require a lot of care and attention as they are on development stages (Understanding childrenÃ¢â¬â¢s develo pment, n. d., Para. 5). The toddlers will be provided with a range of collections for investigative, exploratory, and learning purposes. The place will be stimulating as the child will be developing emotionally and physically. The toddlers will be taught and encouraged on how to paint, draw, solve some jigsaws, and other engaging activities that will stimulate their brain development. This will definitely promote the personal development, social skills, and promote independent learning. The toddlers in Little AngelsÃ¢â¬â¢ Nursery Daycare Center will be allowed to rest for two hours and can sleep on available mats.Advertising Looking for term paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The developmental needs of the child will be taken into considerations by the use of both outdoor and indoor physical and learning environment. The ratio still remains one to three as the needs of the children are almost the same as those of zero to one year. The toddlers socializing skills will be developed as they will be encouraged to share and play with other toddlers. They will be grouped in teams and encouraged to share their toys and other materials. At the end of the day the toddlers will be issued with a worksheet with the following: The progress of the child socially, emotionally and physically. Food calories taken and amount of water. The childÃ¢â¬â¢s emotional and learning abilities. Before the child is moved to a pre-school, the parent shall be engaged in a discussion where advice shall be availed to the parents. 2-3 Years The children at this age group will be on a preparatory transition to join the other older groups. With their ability to move around, talk, and understand, the ratio of staff member to child be increased from one to three to one to four. They will be taught how to write, draw, and paint. They will be encouraged to socialize so as to develop socialization skills as well as relationships with their staff and other children. They will also be encouraged to mingle with other experienced big groups. They children will be prepared for transition period from a toddler to a more experienced child. More physical activities and exercises will be encouraged to develop the child physical and mental capabilities. Parents will be encouraged to call anytime during the day to check up on their children for reassurance purposes. The children rooms will be filled sand, water, music, and a home corner. This would encourage them play with real environmental facilities as they familiarize themselves with the surroundings. At the end of the day the parents will be provided with a chart with following; Socializing abilities and any antisocial b ehavior that the parent would like to know. The physical, emotional, and social developments of the child. Food calories taken and health progress of the child. 3-5 Years This age group consists of children who can talk, walk, play, and understand (Understanding childrenÃ¢â¬â¢s development, n. d., Para. 6). The ration of this age group is usually one staff to eight children. The staff have been trained in EYDCP (early yearÃ¢â¬â¢s development childcare partnership) and equipped with any other required skills. The rooms will be well decorated for the children with more learning materials rather than mere drawings. This is to stimulate their mental capabilities, reason and understanding. The children will be provided with wide range of activities and resources and they include; Water and sand Music Science area Small World toys Book corner Construction area Art Craft area Outdoor play MathÃ¢â¬â¢s area Writing table Role Play area Other services provided are Child preparati on to the challenges faced in an infant school Little AngelsÃ¢â¬â¢ Nursery Daycare Center will offer a safe, play tested, and happy environment for the child where they will learn to gain independence and socialize beyond the family setting. Prepare the child for the first stage in elementary school. Identify the child special problems if any through continual observations and assessments. This would allow the parents know the problems and rectify them before the child joins elementary schools. Children will be trained for daily routines and responsibilities. The children will be encouraged to be independent, develop communication and social skills and the act of sharing. Parents will be provided with necessary information that pertains to the elementary schools for first graders around the University. Competitive Comparison Since the business is the first of its kind around the institution and town, no competition is expected in the short term. However, competition may be experi enced in the next five years if other nursery and baby care institution mushroom. For the mean time, the company will be experiencing a monopoly as well as operate as price takers. Future facilities and services The enterprise will expand its facilities and increase its employees as the number of clients children increase. This will ensure that every child necessity is taken care of. It will also put on more play facilities like swings, sliding rails, and bouncing castles among others. Industry Analysis The baby care industry is a new concept in Saudi Arabia with little players as most of the mothers are housewives. This means no competitors around the university and its environs thus the need to establish one around the area. The other aspect of the industry is that itÃ¢â¬â¢s a growing one that will be faced with emergent competitors in the near future. However, the business enterprise with create a brand name and put into place strategic plans that would play as competitive adva ntage in the near future. Reference List Madura, J. (2007).Ã Introduction to business. Mason, OH: Thompson/South-Western Pride, W. M., Hughes, R. J., Kapoor, J. R. (2012).Business. Mason, OH: South-Western/Cengage Learning. Understanding childrenÃ¢â¬â¢s development (.n. d.). BTEC First ChildrenÃ¢â¬â¢s Care, Learning and Development. Web. This term paper on Nursery Business Plan was written and submitted by user Alia Ray to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.
Friday, March 6, 2020
Moral Leadership and Business Ethics Business Ethics Morality Morality entails the application of opinion, principles and laws of good behavior in any specific society. Although morality is hinged on the intrinsic aspects of society, some principles are applicable in a universal manner.Advertising We will write a custom essay sample on Moral Leadership and Business Ethics specifically for you for only $16.05 $11/page Learn More Permissibility of conduct is dependent on the moral standing of the parties involved in judging the conduct, the timing and other factors. As a result, what is morally acceptable in one location may be unacceptable elsewhere. Poulton (2006) observed that morals are determined on a limited geographical, social, political and cultural setting, thereby inculcating the uniqueness of the standards. Pup (2010) morality is fundamental to human existence, considering that moral dilemmas rarely exist. The intrinsic nature of humanity confers a clear understanding what is morally acceptable and solutions are automatically identifiable. According to Gini (1996), Ã¢â¬Å"John Dewey argued that at the pre-critical, pre-rational, pre-autonomous level, morality starts as a set of culturally defined goals and rules which are external to the individual and are imposed or inculcated as habitsÃ¢â¬ . Human beings form a major component in the business, and every entity is part of business. As a result, morality still remains a major concern for any business place, since it is impossible to separate the three elements. Ethics As a branch of philosophy, ethics is concerned with the conceptual, logical and rational determination of right from wrong. Ethics play a major role in determination of good from bad, morality from immorality and justice from injustices.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More In most cases, ethical conduct is intrinsic, with the outcom e of judgments founded on the conduct of the subject of the actions. As a result, ethical conduct is mostly hinged on Ã¢â¬Ëpreaching and drinking waterÃ¢â¬â¢ and walking the talk. The underlying motives for ethical conduct are what determine the morality of the conclusions by the individuals. Over the past, standard codes of ethics have been developed, with these standards playing a major role in guiding decisions (Poulton, 2005). There are an amorphous number of dimensions of ethics, based on normative, descriptive and comparative foundations. With regard to the business place, ethics are the applicable and moral principles which guide conduct in the business place. Due to the pluralistic and ultra-egoist nature of ethics, the fact that it relates to the conduct of one person with regard to others elevates its importance in the business place. According to Poulton (2005, p. 1), Ã¢â¬Å"Business ethics, pertains to human inÃ teractions when sourcing, producing and marketing goo ds and services for profit, and include the relationships between business management and their employÃ ees, the firm and its primary stakeholdÃ ers, the business and its relationships to the community, government and society in generalÃ¢â¬ . In the determination of what is right or wrong in the business setting, it is important to take into consideration the nature of the activities and the stakeholders to be affected by the decisions. In the pursuit of generating wealth for the investors and satisfying consumer expectations, businesses are expected to certain scenarios with conflicting implications of outcomes. The principles of business ethics are considered fulfilled if the outcome is just, fair and equitable with regard to the wellbeing of human beings. The social construction of business implies that it is impossible to disengage business entities from society, since they are interrelated.Advertising We will write a custom essay sample on Moral Leadership and Bus iness Ethics specifically for you for only $16.05 $11/page Learn More Moral Responsibility According to Poulton (2005), this describes the status where a person, natural or legal, serves acknowledgement in the form of praise or reprimand, primarily due to their actions or omissions. As a primary concern of ethics, moral responsibility is hinged on the actions, intentions and omissions of the moral agents, or individuals who are responsible in any capacity in society. The magnitude and nature of moral responsibility is dependent on the status of an individual in society, and the rationale behind the expectations by society. The foundation of moral responsibility is the existence of determined and tangible moral standards in the specific society. Moral responsibility exists in two dimensions. The first dimension is associated with obligation or compulsion. In this accord, an individual is morally responsible for outcomes which he had control over, was knowledgeable a nd failure to avert the outcomes (Velthouse and Kandogan, 2005). Moral responsibility can also originate from actions that are unintentional, but involve injurious outcomes, either to a person, or to according to existing legal provisions. It is thus necessary for an individual to display reasonable skill and care in their action in order to avoid moral responsibility from obligations and culpability. Corporate Responsibility Also referred to as corporate social responsibility, this approach to self-regulation is incorporated into business in order to ensure that entities comply with the norms on an international level, existing and expectations of the wide range of stakeholders (Phillips, 1996). Organizations have found it necessary to establish corporate social responsibility standards in order to support other efforts in achievement of organizational goals.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More In addition to enhancing appeal across society, organizations have found it beneficial to establish intricate social responsibility approaches aimed at enhancing the positive effects of its activities on the ecological set up, society, consumer groups, jurisdictions and other forms of stakeholders. Poulton (2005) noted that the entry of the multinational form of operations widened the importance of corporate responsibility. As a strategic imperative across all industries, social responsibility has played a wide range of functions to complement and supplement core functions of businesses including window dressing, pre-empting regulatory actions and distracting stakeholders from focusing on the economic functions of a business. Corporate social responsibility has risen to the top echelon among the non-financial goals for any business wishing to succeed in the highly competitive world. Organizations at all scales of operations have found it necessary to go the extra mile in ensuring th at the stakeholdersÃ¢â¬â¢ expectations are met. This is regardless of the fact that such efforts actually entail costs and expenses which are not directly linked to revenue-generating capabilities. As a result, corporate social responsibility exists as a unique aspect in acquisition of competitive advantage in the market place. Ethical Principles Professional Responsibility and Competence Professional responsibility arises from acquisition of certain competencies in a specific area of knowledge. Responsibility in professional circles originates from expertise and ability to comprehend intrinsic aspects of the subject. Phillips (1996) directed that the ability to understand and conceptualize the code of conduct, how to overcome conflict of interest and act in a professional manner can only be achieved through an intricate appreciation of the primary and secondary principles in the specific areas. Professional responsibility is determined depending on the specific professions and th e extent to which the individual qualifies as a professional. Competence on the other hand relates to the ability to conceptualize aspects of a specific discipline. Competence originates from actions directed towards acquiring knowledge and experience in a specific field. Competence is not necessary academic in nature, which is a basis of professional responsibility. Ethical standards are closely linked to professional responsibility and competence. Professionals and competent Learning and Development According to Phillips (1996), learning and development provides employees with an opportunity to acquire custom designed and unique approaches to understanding the needs of consumers. In most cases, learning and development provides organizations with the necessary inputs in capturing the interests of the society in which it lives in. Acquisition of professional competencies is based on widely practices principles, which are not specific to the internal and external environment facing the organization (Poulton, 2005). As a result, ethical operations can only be established through learning and development programs. The design and contents of the learning and development programs have to be objective and tangible. Responsibility to the Organization Responsibility to the organization originates from the fact that the people running the organization are not necessarily the owners (Phillips, 1996). Managers are expected to play a role in the achievement of the organizational goals. Successful organizations are based on identification of ways to satisfy a certain category of needs and wants. In most cases, these organizations represent an important aspect of any society, since the goods they provide are primary to survival. As a result, if such organizations fail, the society is bound to suffer from the lack of the specific goods and services from the market. For example, failure of a banking institution is bound to result to loss of life savings and trust in the fina ncial system, thereby propagating domino effect across the globe. As a result, ethical and moral standards are primary features in the responsibility to the organization, for people who have decision-making and operational powers. Responsibility to the Society According to Boatright (2009) businesses are expected to be responsible to the society, primarily due to the fact that all resources available for production are drawn from the society itself. Right from skilled and unskilled employees to the inputs for production, businesses have no option but to recognize the input of society. The end-result of the production cycle is destined for society as well, since these are the individuals who provide the consumers with life sustaining products and services. Training Training provides organizations with the capability of understanding the best approach to achieve the organizational goals. The training programs are aimed at ensuring that the organization has the employees with the neces sary skills and competencies to handle their roles. Knowledgeable employees are able to appreciate what is good from bad. In addition, the employees will appreciate the expectations of society, making them capable of conducting themselves in a morally upright manner. Trainings are designed to cater for diversity, sexual harassment, mentoring and cultural training. Diversity Training in diversity provides organizations with the ability to understand the differences in cultures and social set ups across the globe. Training on diversity normalizes the expectations based on morals, ethics and legal requirements. As a result, employees are able to appreciate the exact reason why customers and other stakeholders have differing demands. In addition, employees will be able to understand the differences in needs and wants among consumers across the organization. This will play a major role in appreciating the best approach to delivering services, products and other aspects such as corporate social responsibility. Ethical standards vary from place to the other, making training in diversity an important aspect in the maintenance of ethical standards. Sexual Harassment Sexual harassment is a gender based form of discrimination, influencing the ability of individuals to co-exist (Boatright, 2009). Morality issues are closely linked to sexual harassment, making it necessary for employees to understand what entails sexual harassment in the workplace. Different cultures have varying perceptions regarding what sexual harassment is. In addition, employee strained in sexual harassment is able to increase productivity by eliminating the challenges originating from sexual harassment. In most cases, sexual harassment exists between employees and rarely between employees and other stakeholders. As a result, it is necessary for the company to appreciate the aspects of sexual harassment in the workplace. Cultural Training Cultural training is an important part of ensuring that organiz ations working in multicultural training are able to understand the intrinsic requirements for each culture. Appreciating cultural implications provides organizations with the ability to determine the expectations of the stakeholders, who are drawn from different cultures. As indicated in the definition of ethics and morals, it is important to understand the expectations of individuals in order to find a common ground. Individuals working for organizations are expected to possess moral and professional responsibility, which is only possible through a clear understanding of cultures. Mentoring According r to Velasquez, M. (2006), mentors play a significant role in ensuring that organizational culture is maintained across generations. Mentors provide formal and informal avenues through which training and development of new employees can be achieved without the need for outlay of resources. In most cases, mentors perform development of employees in a unique and custom-designed approach . This approach depends on the mentor and the person being mentored. Mentoring is also possible for ethical and moral standards. Individuals who are well-versed with these aspects stand an opportunity to promote the knowledge standards among other employees for the betterment of the organization. Conclusion Businesses have no option but to align objectives with goals. Financial and non-financial performance is hinged on the ability of the organization to appeal in totality. Comprehensive appeals entail performing according to expectations, and going the extra mile. In the spirit of seeking competitive advantage, most organizations have found it necessary to establish ethical and moral standards. Although such morals are hard to achieve, organizations have no option but to invest in training and development, training on diversity in the workplace, develop corporate social responsibility and ensure that all its actions are ethical. On a personal level, each employee has to ensure that they are aware of the dimensions of diversity through mentoring and cultural training, ensure that their actions exude responsibility to society and the organization, and avoid actions which are considered repugnant to society at large. References Boatright, J. (2009). Ethics and the conduct of business (6th ed.). Upper Saddle River, NJ : Prentice Hall. Gini, A. (1996). Moral Leadership and Business Ethics. Loyola University Chicago In Ethics and Leadership Working Papers. Web. Phillips, M. J. (1996). Corporate Moral responsibility: When It Might matter. Business Ethics Quarterly, 5(3). Poulton, M. S. (2005). Organizational Storytelling, Ethics and Morality: How Stories Frame Limits of Behavior in Organizations. Electronic Journal of Business Ethics and Organization Studies, 10(2). Pup, A. (2010). An agenda of Morality for Business Ethics. Annals of the University of Petrosani, Economics, 10(1). Velasquez, M. (2006). Business Ethics: Concepts and Cases (6th ed.). Upper Saddle River : Pearson Prentice Hall. (F.I.M. 2003- 2008), First impression management. Web. Velthouse, B. and Kandogan, Y. (2005). Ethics in Practice: What Are Managers Really Doing? Web.
Tuesday, February 18, 2020
My useful psychology book - Essay Example In relation to this, the paper will be discussed from my perspective, which is how exactly this book has been a helping hand; this includes meditation, how to manage stress and managing myself in time. Meditation has been preferred for oneÃ¢â¬â¢s peace and healthiness, however this was not included in my normal routine, but introduction of this book has been a very great help as the text introduced and somehow persuaded me to try out meditation. Once I started this exercise, I couldnÃ¢â¬â¢t help but notice the positive changes it started to bring in my life. For instance, it reduces tension related problem such as anxiety, joint and muscles issues and headaches. Not only this, the feeling of boundless energy and to be creative, being emotionally stable and feeling unusually happy and healthy are some of the perks of meditating. Moving to the next help that has been extended to me by reading and examining this book is the different ways and procedures through which I can manage stress. The initial step that is needed to be taken to ensure stress management is the very core from which this problem is erupting. If the original reason behind this issue is external that one should try to eliminate this factor, or if tit is internal that one should produce ways to deal with it. Another way to control stress is keep doing what you love such as painting, reading, go for outing, sharing with your parent, sibling or friend, because the more you indulge yourself in your favorite activities, the less you ponder over the issues that generates stress. Interestingly, stress is also sometime caused when you do something which you shouldnÃ¢â¬â¢t have done, so sometimes confessing helps too in reducing stress. Likewise, one should always try to look at the bright side or do things the right way. Exploring the third benefit which I have extracted from the book; the initial and the most important thing when managing yourself in time is to set achievable and realistic goal, because if