Executive summary Free Essays

The highly anticipated and much celebrated release of the newest and perhaps hippest cellular phone on the market has spurred a number of discussions on the applicability of these devices to other forums.   An important change which has revolutionized not only the way people interact and do business with one another but also the way relationships are formed in this world is the telephone. Alexander Graham Bell could never have imagined that phones today allow people to surf the internet and also watch movies. We will write a custom essay sample on Executive summary or any similar topic only for you Order Now    The telephone has become such an integral part of the everyday lives of people.   This role is even expected to only become more and more important as the next generation of cellular phones will allow users to watch videos and talk to each other onscreen. This short discourse will therefore discuss the different marketing strategies for mobile phone providers.   This includes the features that are offered in the market for current cellular phones such as the WAP access and even the video or camera quality.   As shown in other pertinent marketing studies that will be discussed in this discourse, there are also other important considerations that consumers take into their decision making process with regard to the purchase of a mobile phone unit.   Using projective techniques and perceptual mapping techniques, this study will attempt to show which of these new features and marketing strategies have the greatest impact on the mobile phone industry.    How to cite Executive summary, Essay examples Executive Summary Free Essays string(75) " bank charges are some of the important expenses that cannot be prevented\." Breakaway Bicycle Company commenced its business in the year 1990 and was primarily lead by Mike Giro, who is the Managing Director of Operations, Steve Brown as Director of Marketing and Sales and Jane Giro as Chief Financial Officer and Treasurer. The company presently has 10 employees to design, build bicycle frames for both road biking and mountain biking. The customers of BBC include men and women between the age of 24 – 45 who use bicycles for both personal use and office use. We will write a custom essay sample on Executive Summary or any similar topic only for you Order Now Especially college goers and sportsmen and women who use BBC mountain bicycles as a part of entertainment, trekking and mountain riding. With the expertise knowledge in the field of bicycles and with its massive success in sales and marketing of bicycles, BBC would like to expand its production capacity to meet the increasing demand of bicycles and with this view, BBC would like to acquire a loan to an extent of $200,000 for taking lease facility of 800 sq. ft at $1200 per month for a period of 36 months. Apart from this, there are also expansion in production, machinery and equipment, labor cost, inventory costs and other expenditures. The period of stage that BBC is passing through is called as Stragetic Management which carries essentially, vision, mission, goals, strategies, techniques and tactics and finally action plans. Case Analysis The company has a good old track of 13 years of service in the business of bicycles both in manufacturing and marketing. With experts and professionals in the respective businesses who possess both technical knowledge, marketing strategies and financial management, it is much easier for the management to expand the production capacity of the company. Having a huge market in America and Europe, the company priced a mountain bike @ $1600 whereas a road bike is price @ $1800 whereas the total bike frame cost which includes both material and labor input by the company is at $465 and company maintains inventory worth $8000 only and can ship 18 bikes in one weeks time. Mostly the company considers the design that is required and suits the need of customer specifications which is why bike frames are not stored as inventory. Customers provide specifications and design to build bike frames and staff design bike frames in computer designs and accordingly the designs are molded into real bikes for selling to the customers. This is the process that is being considered by BBC hitherto. The company received good reputation, customer satisfaction and good hold in market share. The staff of BBC are paid good salaries and staff is also satisfied with the company and company financial statements i. e. Balance Sheet, Cash Flow and revenue projections are very satisfactory wherein there is control over expenditures and there is a continuous cash flow and maintenance of cash balance. The company is practicing good marketing strategies, maintaining labor costs, earning profits and above all keeps a professional conduct in the business of bicycles which is why its product is earning a greater demand. The company is in safe hands of experts who are the main driving force behind its success and are growing from one strength to another with hard work and excellent management of business. It is important here to take note that when a sanction of $200,000 is made, how BBC is going to use these funds towards its expansion program. Going by the financial statements of BBC for the year 2000, the company has projected a net loss of $374,689 in up to December. When taken notice of Profit and Loss Account, it was found that net operating income is much lower than total expenses incurred. It is important to cut down expenses in order to post profit and also expenses have to be lower than operating income. In this case net operating income and total expenses throughout the entire period of 2000 are not marginal and even figures are quite disappointing. This indicates that the company has to severe attention to the cutting of expenses which are not required and which can be prevented in incurring expenditures viz. , bad debts can be recovered with the help of a recovery agent, expenditure on traveling, miscellaneous expenses can also be avoided wherever required. Another effort can be made to improve gross sales all through the year, which meets all the expenses and posts net profit for the company. Further sales returns and allowances can also be lessened with the fact that these would add the figure of gross sales for the company. Further delivery expenses are also on the high side which can be negotiated at a lesser tariff and the expenses can be controlled or reduced. Ending cash balance for the year 2000 December is projected as $343,530 and for 2001 December $367,854 which indicates that there is improvement in cash flow although, the company is still posting a net loss for both the years 2000 and 2001. Revenue projections for the year 2000 and 2001 are quite encouraging in terms of sales growth and also in terms of business turnover. For the year 2000, $1,390,600 is the net income generated and for the year 2001 the net income generated is $1,619,600 which indicates a growth in sales turnover. Although the company is posting a net loss for two years, there are few lacunae areas in cost and expenses segment which are overtaking the profits and posting a net loss. This can always be prevented by taking effective measures of cutting in costs and in expenses. BBC in order to undertake expansion of production capacity must concentrate on some of the important issues viz. , labor cost wherein newly recruited staff have to be paid, leased premises rent has to be paid monthly and maintenance of inventory, purchase of machinery and equipment for increasing the production capacity and also to supply more number of bicycles per week. These should be the main expenses and other expenses which are necessary viz. , depreciation, delivery expenses, insurance, taxes, bank charges are some of the important expenses that cannot be prevented. You read "Executive Summary" in category "Papers" Other expenses viz. , travel, miscellaneous, telephone, electricity, postage, charitable institutions, maintenance, office expenses such as these can always be minimized which would instantly cut down the expenses incurred in business. Total assets available for the company as on 31st December 2000 is $669,646 and as on 31 December 2001 the total assets of company are $972,060 and owners equity is $758,260. This again gives a fact that company has good stand over fixed assets and capital and has a strong objective to grow in future with its program of production expansion although there are imbalances in incurring expenditures which are resulting in posting of net loss for the company. Financial Analysis As on December 31,2000, BBC posted a Net Income Loss in Income Statement to an extent of $178,868 and net sales are $1,034,118 and expenses are totaled to $488,750. Basing on the marketing data, there is an annual market to sell 25 million bicycles as per the survey of Department of Transportation. The average price of a custom-built bicycle is $1,500 and this sale excludes summer Olympics. Currently there are five companies which are making custom-built bike frames in U. S and BBC is not in top five companies. As financial projections indicate in the next three years, there is a huge scope for BBC bike frames which include both mountain as well road frames can tap the customer market, if the production capacity of BBC is expanded with the loan that is applied with the motive of increasing the production capacity and to increase sales. Further it is also appreciating that U. S and Europe customers are indicating more interest in purchasing more number of mountain bike frames apart road bike frames. Expenditures on travel, delivery, postage, telephones and other miscellaneous should be reduced as these increase the total expenses and reduce the net operating income. With the increase in production capacity, hiring new workers, labor charges have to be paid and salaries also have to be paid basing on hourly, monthly or weekly. The company is already paying 10 employees and there are plans to appoint few more employees and for this purpose cutting costs and managing funds efficiently is important until the company records regular profits. Once regular profits are recorded, the company can consider a lenient view on expenditures that are necessary for the working operations of the company. Till that time, it is important to control the expenses in all respects. An approximate calculation of loan that is due for sanction for BBC $200,000 1. Office premises on lease @ 1200 per month for 36 months : $ 43,200 2. Labor costs 7 designers @ $35000 + 3 designers @25000 : $ 60,000 (p. a) 3. Capital equipment purchase : 3 workstations @ 20,000 each: $ 60,000 4. Advertising $ 3,125 * 12 : $ 37,500 ————- Total $200,700 As the total loan is $200,000 it is important that BBC must pick up sales and earn profits in the first year of sanction loan and prevent over expenditures that are incurred in manufacturing and selling of bicycles in the coming 3-4 years. There is a clear financial need for rebuilding infrastructure of BBC and loan amount must be used in a useful manner for the growth of company and to increase the turnover of the company. Periodical financial statements, cash flow, budget and sales turnover indicate the working operations of BBC company apart from cautioning against over expenditure. It would also enable forecasts of expenses, target of sales, a complete financial analysis for the present and for future operations of BBC company. A good portion of raw material, a good amount of major orders must always be on hand for executing orders in time. Further there is also a need to find market for new customers both in domestic and in international level, with the fact that quick growth in turnover would enable BBC to refund loan at a fast pace and also to increase company’s profits. Advertising and Marketing Analysis BBC can launch a website as a part of advertising and marketing strategy and launch pop up ads, banner ads, email newsletters, ezines to invite new customers. Launching a website would cut cost in advertising through television or newspapers as the present day customer is more available on Internet and Internet marketing is the best option to increase sales although the traditional methods of marketing continue in the form of supply of brochures, banner boards and television advertisements. There is scope for more market on Internet. Customers who visit web site can choose a particular bicycle and check the price and email the order or pay on line. BBC must ensure that the appropriate is delivered to the customer in a perfect working condition. As a matter of fact, sales pick up at a fast pace on Internet as customers visit BBC web site on every day basis and there are purchases of bicycles almost every day. BBC must ensure good customer service, service and repair support apart from offering reasonable discounts to customers who request for a particular model. The motive behind production expansion is to increase sales and it must be achieved as a part of strategic management. Further, periodical market analysis must be made for the benefit of BBC and regular feedback from the customers would benefit the company in providing excellent information from the market as well from the customer for making improvements in BBC products. Recruitment of efficient and smartly trained marketing executives, advertising executives and technical and skilled personnel who attend to customer requests for repairs is also required by BBC for maintaining the reputation and to make the product quite demanding in market. Apart from this, pricing strategy of competitors must be analysed and pricing of products should be moderate while maintaining the good quality of product. It must be noted here that customers must always be satisfied with both marketing as well advertising apart from a complete satisfaction derived from the purchase of product. Final conclusion BBC company is a small establishment when compared with big manufacturing companies of bicycles whereas the strength, market and customer base for BBC is absolutely good which is why, expansion program is required in order keep the company growing towards more number of sales and in earning profits. This business plan analyses every area of the present business and advises which part of area in business needs extra attention in bringing more success to the company. It also covers every major area and provides details about over all functioning as well the financial analysis of the business. There are many areas in BBC which require re-working and investment of funds and also reduce expenses in delivery, travel and telephone. Small establishments are always easy to manage and also enable quick growth and in earning profits. Every minute detail must be managed in order to bring the best from the company and also to prevent unforeseen situations that arise from lack of care. It is good for BBC to avail loan at this stage, as it is offering several benefits of expansion of production capacity, manpower and machine capacity. These funds have to be managed and invested in order to meet the objective and target of sales. In future, the banks would not hesitate in sanctioning of more loans for achievement of goals and objectives of BBC company. Reference Week 6 BBC Case Analysis How to cite Executive Summary, Papers Executive Summary Free Essays MEMORANDUM To: The Models of the Beauty Pageant From: Janera A. Glassburn Date: October 12,2010 Subject: The best facial scrub for under $10 EXECUTIVE SUMMARY I was recently informed that there was going to be a beauty pageant in our town. Several of the young ladies are complaining about a lack of time to get their skin looking fantastic. We will write a custom essay sample on Executive Summary or any similar topic only for you Order Now I was called upon to find a facial scrub that is less than $10, effective in a three week period, and has little negative effects that go along with it, like drying ones skin out or leaving it just plain oily. I chose to use Proactive original face cleanser, Neutrogena deep cleaning gentle scrub, and Clearasil ultra acne clearing scrub on myself for a week each, to see which scrub would give me the best results, and allow you all to have a wonderful pageant with wonderful skin. * Proactive Original Face Cleanser * Neutrogena Deep Cleaning Gentle Scrub * Clearasil Ultra Acne Clearing Scrub Using these three criteria I found which cleanser would be best suited for your needs. These criteria are: * The cost of the product * The effectiveness of the product. Or how quickly I noticed a difference in my skin and how long it lasted throughout the day. * The negative aspects of the product, which included drying of the skin and just leaving it oily. Finally you would want the price of your cleanser to be less than $10, see quick results, long lasting, and not leave your skin dry and flaking or oily I would recommend choosing Clearasil’s Ultra Acne Clearing Scrub for everyday facial cleansing. INTRODUCTION Finding the cleanser that works best with your skin is a very important task. I have researched three different types of facial scrubs to ensure you get the most effective product for your money. The three facial scrubs I researched are: * Proactive Original Face Cleanser * Neutrogena Deep Cleaning Gentle Scrub * Clearasil Ultra Acne Clearing Scrub When considering these three facial scrubs certain criteria were used. The criteria are as follows: The cost of the product, its effectiveness, and any negative aspects of using the product. Proactive Original Face Cleanser I want to tell you that over all cleansers this is my favorite for reducing acne and keeping my skin oil free for the longest period of time, but the cost is a little outrageous to be used everyday. Neutrogena Deep Cleaning Gentle Scrub This cleanser was my least favorite cleanser of the three cleansers compared in this paper. Neutrogena was never actively helping me get rid of any oil on my skin and therefore, did not dry it out. Clearasil Ultra Acne Clearing Scrub Overall this cleanser is the recommended facial scrub written about in this paper. It has a price that cannot be beat for the great benefits of smelling good, having smooth oil free skin after using it, and minimal drying of the skin after repeated use. CRITERIA When I compared these three facial cleansers the criteria used was: * The cost of the product * The effectiveness of the product * The negative aspects of the product RECOMMENDATION Based on the fact that you want a facial scrub with a cost of less than $10, quick and lasting results, and no oily skin with minimal drying or flaking I chose Clearasil Ultra Acne Clearing Scrub. CONCLUSION I researched facial scrubs on my own skin for those of you who were looking for a product that was less than $10, had a quick and long lasting oil free effect on your skin, and yet did not dry out your skin or leave it oily. I found that using Clearasil ultra acne clearing scrub was the scrub you should chose based on the criteria you had given me. This product left my skin clean, oil free for most of the day, and never once did I have any drying out of my skin. How to cite Executive Summary, Papers Executive Summary Free Essays EXECUTIVE SUMMARY Square Textile Ltd. started its operation in 1997. It was enlisted in Dhaka Stock Exchange Chittagong Stock Exchange in 2002. We will write a custom essay sample on Executive Summary or any similar topic only for you Order Now The business lines of Square Textile Ltd. are manufacturing and marketing of yarn. Its factory is located in Gazipur , Dhaka. The manufactures 100% Cotton Ring Span Yarn or Hosiery , 100% Cotton OE Rotor For Hosiery and Knit Fabrics for 100% export oriented readymade Garments Industry. The strategic Goals and Objectives of the Company are to strive hard to optimize profit though conduction and transparent business operations and to create more competitive in the internal and external market. In home, customer of Square Textile Limited are export oriented readymade Garments Industry. The Company also exports its products to the market of Europe USA . The export sells increased by 19% in 2003 over the previous year. Competition level is increasing both in local and abroad market . Competition will be more stiff after 2005 when multifiber agreement will be phaced out. Among the other foreign competitors Srilanka , China Pakistan and India are prominent. Square is one of the biggest employees in Bangladesh. It has a personnel and administrative department . The total number of employees are 1223. For the employees there are systematic in house training in home and abroad . The managing director, the CEO is the head of the executive management team . Below in there are directors , executive directors and general manager. Under the direct super vision of the general manager a number of departments are controlled. The Company is going through continuous growth in production . The total production increased year on year basis at the rates of 0. 43% and 1. 467% during 2002 and 2003 respectively . The Company’s operations are out on a aggregate basis and are managed as a single opportunity segment . The Company uses Computer Aided Design (CAD) , Computer Aides Spreading (CAS) and Computer Aided Manufacturing (CAM) in its plant to increase the overall efficiency and productivity. OBJECTIVE: The broad objective of this report is to provide an overview of HRM practice of Square Textiles Ltd. The specific objectives of this report are : †¢ To provide Company overview †¢ To provide market overview and analysis †¢ To reveal operational, management and HRM planning. †¢ Discuss all HRM practice METHOLODGY: To prepare this report we have collected data from different published materials. Then we have conducted a secondary study. After that we have prepared a questionnaire and took interview one of the executive serving in this Company. We also collect data from internet . This way we collected primary data. Thus we have used both primary and secondary report to prepare this report. INTRODUCTION: This report is prepared as a requirement of the course â€Å"Seminar in Human Resource Management. † We selected Square Textiles Ltd. Working on this organization we came to know various Kind of HRM practice which are use here. Though it is a textile, it has proved itself in the related industry s a major competitor. In this report we have followed the guidelines provided by the teacher. Here we have tasked not only the HRM practice but also the marketing, management, finance and operational area of the Company. 5. Human resource management 5. 1. Human resource planning Square has a personal and administrative Department . Square is one of the biggest employers in Bang ladesh. The total number of employers in Bangladesh . The total number of employees is 1,223. For the employees there are systematic in house training in home and abroad . To motivate the employees, along with salary and benefits the company provides various facilities like free meals , free transportation , 24 hour medical center , on site sports . Production and accommodation facilities includes full time supply of safe drinking water, adequate lighting and ventilation facilities from sheet. 5. 2 HR Practices of SQUARE textile Recruitment Training Performance Management Labor relation Employee relation Job analysis Job design Selection Development Incentives Benefits 5. 2. 1 Recruitment and Selection process in SQUARE Recruitment is the process trough which the organization seeks applicants for potential employment. Selection refers to the process by which it attempts to identify applicants with the necessary knowledge, skills, abilities and other characteristics that will help the company achieve its goals, companies engaging in different strategies need different types and numbers of employees. The strategy a company is pursuing will have a direct impact on the types of employees that it seeks to recruit and selection. Source of recruitment There are two kinds of source SQUARE uses for recruitment . They are 1. External source 2. Internal source. We try to discuss all relative sources which are used for recruitment in SQUARE. 1. Internal source SQUARE thinks that current employees are a major source of recruits for all but entry-level positions. Whether for promotions or for ‘Lateral’ job transfers, internal candidates already know the informal organization and have detailed information about its formal policies and procedures. Promotions and transfer are typically decided by operating managers with little involvement by HR department. 1. 1Job-posting programs HR departments become involved when internal job openings are publicized to employees through job positioning programs, which informs employees about opening and required qualifications and invite qualify employees to apply. The notices usually are posted on company bulletin boards or are placed in the company newspaper. Qualification and other facts typically are drawn from the job analysis information. The purpose of job posting is to encourage employees to seek promotion and transfers the help the HR department fill internal opening and meet employee’s personal objectives. Not all jobs openings are posted . Besides entry level positions, senior management and top stuff positions may be filled by merit or with external recruiting. Job posting is most common for lower level clerical, technical and supervisory positions. 1. 2 Departing Employees An often overlooked source of recruiters consists of departing employees. Many employees leave because they can no longer work the traditional 40 hours work week . School, child care needs and other commitments are the common reason. Some might gladly stay if they could rearrange their hours of work or their responsibilities . Instead, they quit when a transfer to a part-time job may retain their valuable skill and training. Even if part-time work is not a solution, a temporary leave of absence may satisfy the employee and some future recruiting need of the employer. 2. External source When job opening cannot be filled internally, the HR department of SQUARE must look outside the organization for applicants. We discuss all the external source of recruitment at bellow: 2. 1 Walk-ins and Write-ins: Walk-ins are some seekers who arrived at the HR department of SQUARE in search of a job; Write-ins are those who send a written enquire . both groups normally are ask to complete and application blank to determine their interest and abilities. Usable application is kept in an active file until a suitable opening occurs or until an application is too old to be considered valid, usually six months. 2. 2 Employee referrals: Employees may refer job seekers to the HR department . Employee referrals have several advantages . Employees with hard –to –find job skill may no others who do the same work. Employees referrals are excellent and legal recruitment technique, but they tend to maintain the status quo of the work force in term of raise , religions , sex and other characteristics , possibly leading to charges of discrimination. 2. 3 Advertising Want ads describe the job and the benefits, identify the employer, and tell those who are interested how to apply . They are most familiar form of employment advertising . for highly specialist requites, ads may be placed in professional journal or out of town newspaper in areas with high concentration of the desired skills Example: General Manager- production (ref: PM) Age: 28-35 years; Graduate with specialization in garment mfg technology from NIFT or equiv. -Minimum 10 years experience in similar position of a unit with a minimum of 1000machines. -Must have detailed hands on knowledge of industrial engineering. We offer competitive salary which is commensurate with experience and qualification. If you aspire to an exiting and rewar ding career , send your detailed resume, quoting your present and expected salaries to jobs. 2. 4 Internet Now today no body thinks anything without internet. So SQUARE give their advertise at internet. Example: WWW. bdjobs. com www. square. bd. com How to cite Executive Summary, Papers Executive summary Free Essays The steel manufacturing industry was characterized by a high pace of technological advancements and businesses in the industry had to necessarily set aside spending for these advancements in order to remain competitive. Thus operating in the industry presented high capital expenditures which would discourage potential new entrants. The availability of substitutes was high in the form of plastics, aluminum and other composites. We will write a custom essay sample on Executive summary or any similar topic only for you Order Now Bargaining power of buyers was high because they were streamlining for reduced reliance on steel Bargain power of suppliers was moderate as buyer choices were high. Competitive rivalry was high as shipment volumes were not exhibiting growth. Nucor was able to respond to external threats quickly because it had a flat management structure which facilitated decentralized decision making. This organizational structure was reinforced by the management emphasis on learning as officials from the company kept an eye on technological developments that were taking place throughout the world. This helped the company to grow because of its ability to reengineer its internal processes quickly in order to suit changing market conditions. This was a critical factor in the steel manufacturing industry because the industry was characterized by high competitive rivalry and a high threat of substitute products. Therefore the steel manufacturing businesses had to keep using the state-of-the-art technology in order to develop and maintain a competitive edge. Nucor was able to create the kind of organizational structure that would support this sort of change management efficiently and effectively. Members of its board of directors had first hand knowledge of the steel manufacturing processes with which they had worked earlier in their career. As mentioned before, the company had a flat management structure. As a result, lower level managers and employees could gain access to this knowledge quickly and easily. As a result employee motivation was maintained. Introduction The industry can be defined as cyclical and mature in which supply exceeded demand and the result was consolidation into a smaller number of larger and more efficient steel manufacturers. However for Nucor Corporation, the larger competitive threat arose from Mittal Steel USA and other foreign competitors who had reduced costs of production to a level below that at Nucor Corporation. One of the important economic characteristics of the industry was that demand enjoyed by foreign competitors varied with exchange rate fluctuations. Therefore the level of imports into the US increased when the local currencies were stronger. Foreign competitors also enjoyed an advantage over US competitors in terms of government subsidies. This allowed the foreign manufacturers to reduce their costs of production to a considerable extent. Because demand exceeded supply, the critical success factor was cost minimization. In order to meet this objective, the managements of the companies utilized technological innovations. Major driving forces of the industry As mentioned before, the most critical consideration in the industry was the minimization of costs. This was one of the most important driving forces driving companies to experiment with different technological innovations such as the electric arc technology and the thin-slab casting technology. The advent of the electric arc technology reduced the cost of production and therefore start-up companies were able to compete in the industry. However this meant that there were too many suppliers in the market and as a result capacity exceeded demand. This was the greatest threat in the industry and as a result of this threat, many companies had gone bankrupt. This created an opportunity for the profitable companies in the in the form of strategic acquisitions. For successful companies such as Nucor Corporation, US Steel, Mittal Steel and Tata Steel, the most important growth strategy was to maintain a continuous process of strategic acquisitions. The implementation of this strategy enabled the companies to diversify their product lines. As mentioned before, the urgency of meeting the objective of cost minimization drove companies to maintain a continuous improvement process in the form of technological innovations. One of the most important technological innovations was the advent of the electric arc technology. This was a critical innovation because it enabled many start-up companies to enter the steel manufacturing industry. However the use of the electric arc technology was still limited by the limited availability of scrap steel and the price fluctuations of scrap steel. In this respect, the critical consideration for companies such as Nucor Corporation was to invest in research and development so that alternatives to scrap steel could be found. However the companies in this industry were more vulnerable than others to economic downturns. Economic downturns were the reasons that the industry was characterized by a considerable level of consolidations. This enabled the growth-minded companies to control costs of production. How to cite Executive summary, Papers