Business Survival in a Recession Essay Example for Free

Business Survival in a Recession Essay

Goods and Services Tax (GST) Advantages and Disadvantages

Goods and Services Tax (GST) Advantages and Disadvantages Executive summary On whether the goods and services tax uncertainty (GST) will be implemented in Malaysia and was eventually suppressed in 2013 October 25, the consumption tax in the 2014 budget will be announced in Malaysias first launched from 2015 April 1, 6%. It will replace the current sales and service tax. Consumption tax, also known as the value added tax (VAT), is a multi-phase of consumption tax. It is a broad-based consumption tax that covers all areas of the economy. All local production of goods and services imports will be taxed. Exceptions to this form of taxation are listed as zero for a specific commodity and service rated power supply, and dispense with the supply. Introduction of goods and services tax (GST), the first is the 2005 budget, to replace the existing sales and service tax structure in Malaysia announced. This new tax reform is expected to be implemented in January 2007, but the government has announced that in February 22, 2006, the implementation will be postponed to a later date. In 2010, the government is currently completing the final phase of the implementation of the consumption tax, in particular, to identify the impact of goods and services tax on society. Is the implementation of the consumption tax will witness, not only in the manufacturing industry and service industry will be affected, but also in other areas, such as education, health, transportation, financial services, agriculture, mining, oil, land, real estate and construction industry, telecommunications, electricity and water industry. In addition, the consumption tax will also be levied on the export service / international service, government, charity, clubs, associations and trade unions. After the introduction of the first consumer tax, there is a conflict of opinion. However, the consumption tax will also provide more income, and strengthen our economic future. According to Malaysian research of economic research professor Datuk Mohamaarif Abdul Karim, who is has been the strongest supporters of the consumption tax in Malaysia implementation of, former executive director believes that the consumption tax is not only a need to raise more revenue for the government, but also to disperse source of income.This will require the issuance of business between the preparation and consumption tax will become a heavy burden on the general publics view. Its time is too long to discuss and review the benefits of new tax implementation and the most important issue is to businesses and the public, they prefer a win-win situation. Datuk Jacob George, Subang and Shah Alam, Contents 1.0 Introduction 1.1 Research Background 1.1.1 Basic Concept of GST 1.1.2 Types and rates of GST 2.0 Consequences of GST 2.1 Expected Aggregate Consumption and Economic growth of Malaysia 3.0 Conclusion 4.0 Introduction 4.1 Why GST? 5.0 Conclusion 1.0 Introduction This chapter mainly discusses the research background, problem statement, research objectives, research questions and the significance of the research. 1.1 Research Background On whether the goods and services tax uncertainty (GST) will be implemented in Malaysia and was eventually suppressed in 2013 October 25, the consumption tax in the 2014 budget will be announced in Malaysias first launched from 2015 April 1, 6%. It will replace the current sales and service tax. Consumption tax, also known as the value added tax (VAT), is a multi-phase of consumption tax. It is a broad-based consumption tax that covers all areas of the economy. All local production of goods and services imports will be taxed. Exceptions to this form of taxation are listed as zero for a specific commodity and service rated power supply, and dispense with the supply. 1.1.1 Basic Concept of GST Consumption tax is the consumption of goods and services received at each stage of the supply chain. Although the consumption tax levied from the supplier until the supply chain of the retail stage, not the formation of a portion of the production cost of the GST payment business input can be required to protect the back of the. Therefore, there is a certain number of products through the supply chain is irrelevant, because in the early stages of payment of business input tax can always be canceled by the merchant in the supply chain. 1.1.2 Types and rates of GST Three categories of consumption tax will be used in Malaysia from 2015 to April 1st, the main difference between the rate and the method to deal with each tax. First of all, the standard level of supplies products and services, is charged with the standard rate. Business to charge a consumption tax, and pay to the government. They can submit an expense account provided by the credit to their tax input than the output of the tax. Second, the zero rate of supplies they bear a zero taxable goods and services. Enterprises can apply for income tax credit, they bring these supplies, it will be levied on the zero tax rate. Third, the exemption of supplies of non-taxable goods are eligible for tax deduction, which means they will not charge any taxes. Of course, the enterprise cant claim the input tax credit, when they put these materials. In addition, they are not eligible to receive the output tax for consumers 2.0 Consequences of GST GST is a broad-based tax. Therefore, it is generally considered a tax rebate. Now, return to the true meaning? In brief, a tax rebate is a burden to the poor, because it requires a relatively large proportion of the lower income. Most of the time, the foundation of a wide range of tax revenue is a serious concern to the policy makers. However, in spite of this, GST has been introduced in 160 countries in the world. These 160 countries, not all of them have experienced the consumption tax of the tired. Some developing countries, such as Vietnam, Ethiopia, and Pakistan, are facing a gradual GST, in no small part because these countries adopt the basic essentials, as well as the exemption of zero tax rate. As mentioned earlier, there is a concept of the GST is decreasing First impressions are strongest. This argument, however, does not take into account the fact that the basic essentials are not taxed in developing countries. When the element is taken into account, the value added tax c an be naturally progressive Another problem with the idea of a decision maker and the public is that the consumption tax will be inflation. There have been important debates and literature on this issue. For example, Saeed A. Bashur (2008) emphasize the introduction of business and services tax does not necessarily lead to inflation. He explained that this is because the definition of inflation is repeatedly rising, the average price over time, does not mean onceand for all to raise prices. Mukhopadhyay Sukumar (2005) said the GST could not, itself cause the rate to continue to increase the price level. But, nonetheless, Marty Viren (2008) found that over half of the tax increase (GST in this case) transferred to the consumer price. In our in-depth study of this issue, we will look at the implementation of the GST/ value added tax and its relationship with the changes in the choice of the year before and after the annual inflation rate? For this purpose, we expanded Table 1.1 to include inflation rates in the r espective countries. 2.1 Expected Aggregate Consumption and Economic growth of Malaysia The implementation of the VAT tends to stimulate public interest, sometimes becoming an important factor in the election. Many people believe that VAT would adversely affect the total consumption, and would undermine economic growth. In addition, the lower VAT rate is sometimes in a recession by stimulating economic growth, strengthening the total consumption of the argument. Miki (2011) told reporters, declining economic expansion, although overall consumption and consumption tax implemented, also increased consumption and overall economic growth in the consumption tax increase before. This will offset the negative impact after filling. Other economists say the impact of the VAT rate is only temporary, so we should not be afraid of it. Logically, if there is a declared government will implement VAT, certainly people will buy that can be raised before the VAT rate of inventory items. Subsequently, after the implementation of VAT, the total consumption will fall, because people will use them before the stock to replace the VAT buy new items to purchase. In this case, economic growth will decline. After this, the total consumption will gradually grow to their stock ran out, the need to purchase new items. Therefore, the impact of the VAT change is easy to understand the theory, but it is difficult to grasp the importance of this effect in practice. Needless to say, the total consumption and economic growth not only changes in the VAT rate to determine. Hamburg (1954) and Barro (1991) shows that the total consumption by income, wealth, interest rates, the age distribution of the population to determine. 3.0 Conclusion What constitutes an ugly truth? The traditional definition of an ugly truth is a reality is a painful acceptance, but because it is called the true, it is necessary to accept it.. So what constitutes a beautiful lie? The traditional definition of a beautiful lie is what people really want that is true, but people know it is not. From the governments point of view, the government has been trying to persuade the public to replace the sales and service tax with GST will not lead to price increases, even though they know that this may not be the case. This will create an ex post behavior that people believe that the price of goods and services will not increase, causing inflation expectations to disappear. If there is little or no increase in the consumption tax, it will be a beautiful lie. All in all, GST is the ugly truth in Malaysia or a beautiful lie? Our results refer to forward. GST in Malaysia is an ugly truth. Let us emphasize two points again. First, the government has always claimed that 6% of the consumption tax will replace 16% of sales and service tax. On paper, it sounds like a good. People will think that there is a tax cut of 10%. However, the fact is that there will be an increase of 2% from 4% to 6%. Secondly, the Chinese government has always insisted that the price of goods and services will not increase. People will still spend and the economy will grow to predict. However, our results show that prices will increase in the short and long term, the decline of precipitation in domestic consumption. Economic growth will be blocked. 4.0 Introduction Introduction of goods and services tax (GST), the first is the 2005 budget, to replace the existing sales and service tax structure in Malaysia announced. This new tax reform is expected to be implemented in January 2007, but the government has announced that in February 22, 2006, the implementation will be postponed to a later date. In 2010, the government is currently completing the final phase of the implementation of the consumption tax, in particular, to identify the impact of goods and services tax on society. Is the implementation of the consumption tax will witness, not only in the manufacturing industry and service industry will be affected, but also in other areas, such as education, health, transportation, financial services, agriculture, mining, oil, land, real estate and construction industry, telecommunications, electricity and water industry. In addition, the consumption tax will also be levied on the export service / international service, government, charity, clubs, associations and trade unions. After the introduction of the first consumer tax, there is a conflict of opinion. However, the consumption tax will also provide more income, and strengthen our economic future. According to Malaysian research of economic research professor Datuk Mohamaarif Abdul Karim, who is has been the strongest supporters of the consumption tax in Malaysia implementation of, former executive director believes that the consumption tax is not only a need to raise more revenue for the government, but also to disperse source of income.This will require the issuance of business between the preparation and consumption tax will become a heavy burden on the general publics view. Its time is too long to discuss and review the benefits of new tax implementation and the most important issue is to businesses and the public, they prefer a win-win situation. Datuk Jacob George, Subang and Shah Alam, President of the Consumers Association for people to accept any new form of tax , the government must make significant efforts, to education and to the consumer explain clearly on the new tax and how it will benefit them in the long term run.It must to the confidence of the public, they pay to the government the surcharge is well managed, in line with the best interests of their. In addition, the main difficulty of the changes to do not have any preparation. According to the tax expert Dr. Arjunan, theres always a change of resistance, or even better. The main challenge is to solve the mentality of the taxpayer. They need to be educated in this new indirect tax method. In addition, the consumption tax law is one of the most supreme opinion of the law of consumption tax law. In addition, the importance of goods and services tax is due to it is not only related to the issue of tax reasons, but it is a comprehensive problem, it cannot be taken for granted. 4.1 Why GST? In the current environment, there are two acts of its management is called sales tax in 1972 (Act 64) and Services Tax in 1975 (Act 151) of goods and services. These two taxes are handled by the Royal Malaysian Customs (Customs). Sales tax on consumers who consume taxable goods, then collected and accountable to the Customs by commercial enterprises. Service tax is imposed on the other hand, consumers who consume food or service, such as in hotels, health center premises or engaged in professional services, such as auditing firms and the services of the second program service tax regulations in 1975 listed Two basic consumer sales and service tax is a single stage tax levied at the consumption stage. It is called a single-stage tax due to the fact that tax is only one, or at the input or output stage. Compared to the existing sales and service tax, excise duty and value added tax (VAT) is a multi-stage tax. This is due to the tax paid in the production and sale of intermediaries at e very stage. In other words the consumption tax levied at every level of the production and distribution chain until the end consumer. In the pursuit of realization of goods and services tax in Malaysia, the government has set up a tax review panel includes representatives from the public sector and the private sector. Scope tax review panel include developing concept, legislation, processes and procedures of the consumption tax. As a reference group to review several countries, including New Zealand goods and services Tax 1985 Act so far, the United Kingdom VAT Act 1994, tax laws of the Republic of South Africa in 1991, the VAT tax, goods and services in 1991, the Canadian document, goods and services Tax sales tax luxury goods and services, Singapore 2000 Indonesia 1993 Act, the new system (Goods and Services Tax) Act 1999, Australia, Thailand, in 1992 VAT Act, VAT and Sales Tax in 1990 Pakistan. In Singapore, Pheng and Loi (1994) explained that the ideal of GST is in Singapore due to the following reasons: In order to reduce reliance on direct taxes To maintain a lower corporate tax rate In order to reduce the dependence on personal income tax, due to the problem of population aging in Singapore In Malaysia, the introduction of goods and services tax purposes is to reduce the countrys growing budget deficit, so it is the purpose of improving tax collection and management. Veerinderjet believes that the target is a goods and services tax is full range (i.e., covering extensive or a wide range of goods and services base), and effective implementation, in order to have a stable source of revenue. Overall, the introduction of goods and services in Malaysia is to achieve the following objectives: To avoid tax cascades, multi tax and transfer pricing bias; To improve tax compliance and reduce tax avoidance and tax evasion; In order to realize the self supervision, reduce bureaucratic unnecessary and overelaborate formalities to reduce administrative costs; To further reduce the operating costs of enterprises by providing tax credits for business, In order to improve the competitiveness of Malaysia and improve efficiency 5.0 Conclusion Today, GST is an important issue in Malaysia, but it is believed that this will raise taxes on consumer income. Therefore, in order to ensure the smooth implementation of the commodity and service tax, all parties must be fully prepared, and give it full commitment. The public should not just rely on the government only to ensure its success, but the responsibility of the IE browser is particularly for the enterprise. Perhaps, by continuously reducing corporate taxes from 28% to 26% in 2008 has been mentioned in the 2007 budget, it will give the people a comfortable room, the company to submit to the consumer tax. The most important is that the consumption tax in the early course of the implementation of any weak link, should be improved and re designed to create a win-win situation involved in all the parties. As a conclusion, GST will enable the public to strengthen Malaysias economy and improve the quality of life

Criminology Theories Strengths And Weaknesses

Criminology Theories Strengths And Weaknesses The classical school of criminology was developed in the eighteenth century, where classical thinking emerged in response to the cruel forms of punishment that dominated at the time. It is considered that writers such as Montesquieu and Voltaire encouraged perhaps the emergence of this new classical thinking, by becoming involved in campaigns for more enlightened approaches to be taken towards crime and the punishment given by the justice systems at the time. Also the development of society craved new forms of legal regulation due to the fact that there needed to be predictability in the system, as technology and properties in particular needed legal protection and workers needed to be disciplined in a consistent way. There were two main contributors to this theory of criminology and they were Jeremy Bentham and Cesare de Beccaria. They are seen as the most important enlightenment thinkers in the area of classical thinking and are considered the founding fathers of the classical school of criminology. They both sought to reduce the harshness of eighteenth century judicial systems, even though coming from different philosophical stances. Benthams contribution to classical theory is based on the fact that he was a utilitarian, interested in the happiness and well being of the population and therefore believing that punishment, in the form of the infliction of pain, should always be justified in terms of a greater good. At the heart of Benthams writing was the idea that human behaviour is directed at maximising pleasure and minimising pain, (the pleasure-pain principle). Bentham believed that crime was committed on the outset, by individuals who seek to gain excitement, money, sex or anything of value to the individual. Beccaria (1764/1963: 93) stated that; It is better to prevent crimes than to punish them. This is at the heart of the classical school of criminology. Beccaria believed that laws needed to be put into place in order to make punishments consistent and in line with the crime. He believed that crime prevention in its effectiveness is down to three main ideas, these being the certainty of the crime and how likely it is to happened, the celerity of the crime and how quickly the punishment is inflicted and also the severity of the crime, and how much pain is inflicted. Beccaria thought that the severity of the penalties given should be proportionate to the crime committed and no more than what is necessary in order to deter the offender and others from committing further crimes. Classical thinking says that criminals make a rational choice, and choose to do criminal acts due to maximum pleasure and minimum pain. The classical school says criminals are rational, they weigh up the costs and therefore we should create deterrents which slightly outweigh what would be gained from the crime. This is the reason behind the death penalty being viewed by classical thinkers such as Beccaria and Bentham as pointless, because there would be no deterrent. However when considering manslaughter, as Bentham also believes, if the severity of the punishment should slightly outweigh the crime then surely capital punishment should be used, there doesnt seem to be any stronger a deterrent to other criminals thinking of undertaking the same criminal behaviour, than seeing another eradicated due to their actions. Classical thinking has had a significant impact on criminological thinking in general and perhaps a greater impact on criminal justice practise. In Europe and America the idea of punishments being appropriate to the nature of the crime has become a foundation for modern criminal justice systems. Since the introduction of the classical school of criminology and classical thinking, the use of capital punishment, torture and corporal punishment has declined. Neither Beccaria nor Bentham believed in the death penalty, apart from, Bentham argued, in the case of murder. The second half of the eighteenth and nineteenth centuries also saw the establishment and growth of the prison, as a major system of punishment, the idea and concept of prison was to take punishment away from the body and instead punish the mind and soul, and these are the keys to changing a persons outlook and views of their criminal behaviours. Many elements of classical ideas are very useful in modern society and these show the strengths that the theory does have. Deterrence continues to underlie all judicial systems and indeed underpinned the principles of the first commissioners of Sir Robert Peel, in the creation of the Metropolitan police. Prisons are also used as major deterrents and also to try and reduce rates of crime. However a great weakness of the classical school of criminology is, the idea stemming from classical thinking that all criminals are rational is not generalisable to the whole population nor is it entirely valid, due to the fact that there may be biological factors stopping an individual from being able to think and behave rationally. Therefore it may not be the particular choice of the individual as they may have been born that way; they may not have the ability to make a rational decision due to a mental illness such as schizophrenia. They may be disorientated or even drugged which affects the brain functioning and therefore any behaviours, resulting in an individual becoming irrational. Also, if people act due to principles of rationality and free will then why is it that the poor are predominating in the criminal justice system, classical thought doesnt include factors of necessity in order to survive. As Jeffrey Reiman (1979) said; the rich get richer and the poor get prison White and Haines (2004) said that the classical school of criminology has 3 main challenges to it. Firstly; how to make such ideas serve the interests of justice and equality when faced with a particular defendant in court. (Not all criminals appear to be acting rationally and of free will) Secondly; that for criminal justice bureaucracies such as the police, growing efficiency may not always be compatible with an emphasis on equal justice, as their gain is to decrease crime rates. Thirdly a power issue, the rationalisation of the legal system potentially means some reduction in their power, which may backfire in terms of being a deterrent. In late 19th century the classical school came under criticism by a form of scientific criminology which emerged due to Darwins great works being published between 1850 and 1870, this therefore had a profound effect on scientific thought and individuals views of human behaviour. Classicism defines the main object of study as the offence. The nature of the offender was defined as being free-willed, rational, calculating and normal. The classical thinking response to the crime was to give punishment that is proportionate to the offence. The Positivist school of criminology however opposes this classical school of thinking, positivism states that the object of study is the offender, and that the nature of the offender is driven by biological, psychological and pathological influences. Their response to the crime is that of giving a treatment of an indeterminate length, depending on individual circumstances. Unlike classicism, positivism views criminal behaviour as irrational and perhaps due to a problem (biological, physical or psychological) that an individual has, therefore they are partially relieved of the crime they committed. Cesare Lombroso is related to much positivist thinking, as a psychiatrist he looked at criminals as being throwbacks to a more primitive stage of human development, he compared physical features of criminals and related them to more primitive stages of mankind and formed a prediction based on measurements of skulls and main physical features, of how certain criminals look. Lombrosos thinking clashed with that of classical thinking, saying that criminals were born not made, and they are not rational as they reproduce thoughts similar to that of inferior humanity. The differences between the thinking behind both the classical school of criminology and the positivist school of criminology highlight the strengths and weaknesses that are associated with both. The classical school has much less biological fact and figures backing up its views, however it has proven successful in reducing crime rates and in providing a deterrent and a way in which to successfully contain individuals who rebel against the system. Unlike positivism which doesnt have any form of punishment, just a form of treatment, the classical school shows criminals that they cannot behave in certain ways in order to maximise their pleasure and minimise pain if it involves breaking the law, it does this successfully because the punishment that is given is more than that of the pleasure that they would receive. Therefore as rational thinkers, individuals contemplating criminal behaviours would not do so due to the laws set in place to deter the behaviour. However the main weakness of the classical school of criminological thinking is that it considers all criminals to be rational and make decisions by free will, but not all individuals are rational and not all their behaviours are free, as if an individual had a mental illness or a physical defect, this may totally change the way in which they act and think. The social construction of crime has changed over time; feudal and religious influences have changed, and affected the criminological theory used. When the Classical school developed it was in a time of major reform in penology, there were many legal reforms at the time due to the French revolution and the legal system was developed in the united states, which would have had an effect on the united kingdom making an increased effort to set laws on crime in stone. As modernity has progressed so has the development of the judicial systems, if positivism was used as the main criminological thinking then these systems wouldnt exist because positivism uses treatments to the criminal in order to solve crime. This could be why the classical school of criminology has been so influential and still is, because it protects various organisations set out to remove crime and it also provides a good theoretical basis on which more recent theories have been developed.

To Kill a Mockingbird by Harper Lee :: essays research papers

Atticus Finch is a man who fought for what he believed in. He stood up for what he thought was right not what the rest of the town thought. Atticus was real brave for defending Tom Robinson in court, he knew a lot of people would get mad and try to hurt him, but Atticus stood up for what he believed in. Atticus had a lot of courage he was the only man in town that would fight for Tom Robinson, because he knew it was wrong to accuse him of something he did not do. I think Atticus knew that Tom Robinson did not have a great chance of wining the case, but he tried to do the best that he could to prove that Tom Robinson was innocent. I think that Atticus is in some way the town’s spokesmen, there is a lot of people in town that have the same views on racism as Atticus but, they were scared to admit it. The town knows that Atticus is right but no one wants to agree with him because they are scared for there own selves, that’s why I think Atticus is very courageous he is not scared in admitting that he is not a racist, and that he will try to prove that Tom Robinson is innocent. Atticus believed that everyone is equal. He believed that all races should be treated the same no matter what. I think that Atticus was real frustrated with the town’s racial beliefs. Atticus was a great man because, he could decide what was wrong and what’s right, something that the rest of the town had trouble doing. Atticus had convinced the jury that Tom Robinson was innocent, that’s why it took them so long to make there decision, but in the end there was no way that the jury was going to believe a black man over a white man. I think what Miss Maudie said was very correct â€Å" well, we’re making a step-it’s just a baby step, but it’s a step†,(216) that’s what she said after the trial, what she means is that the town will not start to except blacks overnight, but slowly the town is starting to understand that being black does not make you a bad person. The town new that the Ewell’s were a bunch of liars, but they couldn’t chose a black man over a whit man, so Miss Maudie is saying someday they will. â€Å"Shoot all the bluejays you want, if you can hit ‘em but remember it’s a sin to kill a

Obamas First Inaugural Speech -- Inauguration, American Presidents

Picture this: a cold January day in Washington D.C, the first African American president is about to be inaugurated with a combined audience of over 38 million looking to be inspired. Ted Sorensen, a former speechwriter for John F. Kennedy, believes â€Å"An inaugural address is by definition a defining moment for any new president.† An inaugural address is a stepping stone for each new administration because it creates a first impression; the address marks the time when the president stops trying to win votes and starts taking action. Barack Obama's speech is filled with eloquent language, and it lived up to the expectations of both critics and the public. The speech, as described in the â€Å"Think Again† section of the New York Times was â€Å"...rather than being a sustained performance with a cumulative power [it was] a framework on which a succession of verbal ornaments was hung, and we were being invited not to move forward but to stop and ponder significances only hinted at.† â€Å"’Just words’ is how a president manages to operate. ‘Just words’ is how he engages the spirit of progress for th...

Human Resources Management JC Penney Essay

JC Penney is ranked number 153 in the fortune 500 company list in the United States for the year 2012. They are one of the largest companies, and have been around for one hundred and ten years. Recently, Management has embarked upon new strategies to improve the company and create a better shopping experience for their customers. To do so, some of their sales tactics, as well as employee training to ensure a successful transaction, as well as satisfaction of customers has been examined and improved greatly. JC Penny has embarked on a new sales strategy to boost sales for the Christmas season. Starting Black Friday through Christmas Eve, employees will be handing out more than 80 million small, holiday-themed, circular buttons to customers. This is a ploy used to increase sales, since behind each button is the chance for customers to win great prizes. This is believed to be a better approach than mailing out coupons, since it ensures customers visit the store; increasing sales and giving them a cut above the rest of their competitors. Apart from using this strategy, the company has recently embarked on marketing strategies to equip employees with the necessary knowledge and tools, to improve sales on an everyday basis. Some of these includes: new pricing strategies, new logo and advertising. What they have done with their sale pricing strategies is made their sale prices into everyday low prices for customers to enjoy yearly. In addition to that, there is also easy to decipher tags. JC Penny is changing the way sales are distinguished by using a new tagging system to identify different prices. A red tag shows an â€Å"Every Day† price, a white tag is a â€Å"Month-Long Value†, and a blue tag shows the â€Å"Best Price.† This provides clarity for customers and makes it easier for them. New logo and advertising also has great influence on customers mentally. According to their press release,â€Å"the new JC Penny logo, which combines the elements that have made JC Penny an enduring American brand, by evoking the nation’s flag and JC Penney’s commitment to treating customers fair and square.† This make customers feel welcomed and appreciated and causes an increase in activity among the population of the United States. However before this can be possible, there must be employees who are competent enough to handle the task. For this purpose there are strategic processes which must be adhered when hiring new workers. This is believed to help in obtaining the best suited applicants for the job. These include individuals who are willing; and also share in the vision of the company. The process by which applicants are recruited into the company is similar to that of most business places; which takes the form of an interview. The interview process is intense and helps the employer to test many different skills and attributes of the employee. This is necessary since it allows employers to meet with potential workers face to face. Therefore it helps to distinguish if they are able to represent the image of the company physically both in attire and expression. In addition it helps employers to screen potential candidates to determine the most honest and experienced candidates. Also it helps to find out the punctuality of employees, something that one has to take into consideration; since unpunctuality can lead to upsets and setbacks in a business. It will also help to give an understanding of the knowledge the prospective employer have of the company. By knowing this, one can be able to tell if potential employees know what is expected of them. After the hiring process is over, the staff must be competent enough to deal with customers. They should have the knowledge and experience to do this in such a way as to build long term relationships with customers. This is to ensure smooth transactions and to avoid the loss of customers through unfriendly habits. JC Penny often provided training for new staff to ensure that they are able to understand and display the image that they would want to portray by the company; to ensure customer satisfaction and avoid hostility and unfriendly approach. One of the training programs offered by JC Penny for new employees is the planning and merchandising trainee program. This helps to give trainees the opportunity to experience first hand how buying, planning, allocation and inventory management integrate to produce products in JC Penny stores nation wide and on jcp.com. The 17-week training program is fast-paced and high-caliber. It gives employees the opportunity to gain insight into store environment processes, visit a logistics center, attend specialized training classes, and more. It also fosters interaction among the staff since Planning and Merchandising team members work side-by-side with other trainees throughout the entire process. A host of projects, activities and hands-on training also helps to facilitate learning; making the process enjoyable for participants. Having senior managers mentoring and coaching you to success will only lead to great achievement. Apart from training of new applicants, development training is also very important in the process of continuing to acquire success. This is because as time change so too do people and therefore strategies that were effective ten years ago may not be as successful today. For this purpose companies have to continue to train their employees so they will be able to comply with the changes of society; since strategic training received over a decade ago won’t be profitable in the workplace today. JC Penny provides sales associates with the skills they need to help the company achieve their business objectives in a challenging, supportive learning environment that fosters achievement. They are given the opportunity to build their skills and improve hands on relationships with customers; as they obtain experience to promote development. Associates typically are trained for a particular department, such as home decor or women wear, but may rotate from department to department based on need; they will also complete additional training for other departments. Helping them to be well rounded individuals who will be equipped enough to fill in where ever they are needed in the company. Therefore this additional training helps employees to be better equipped than when they first entered the workplace; increasing competent performances, and improving their ability to handle situations. In addition to normal rotation training, employees also have the opportunity to participate in developmental workshops offered by the company for which they qualify. Therefore this will help to mold them into very capable young individuals, with great experience for future endeavors. Because of the sales force strategies used at JC Penny, the company is noted as one which has both the interest of employees and customers at hand. The training offered to their staff is well executed and well received; resulting in JC Penny being described as a company that turns jobs into careers. In addition, it also creates innovative ways for customers to view the shopping experience; since the sales tactic they use make the experience much more easier, straight forward and convenient than most of their competitors.

Had Rock Case Study

Case Study: Hard Rock Cafe 1. Describe three different forecasting applications at Hard Rock. Name three other areas in which you think Hard Rock could use forecasting models. The first forecasting application that Hard Rock uses is the point-of-sale system (POS), they can analyze sales data, maintain a sales history, and improve their pricing of products. The second application Hard Rock uses is the 3-year weighted moving average to help evaluate managers and to set their bonuses. And the third application Hard Rock uses is multiple regression to help figure out how to set up the menu.Managers can compute the impact on demand of other menu items if the price of one item is changed. Three other areas Hard Rock could use forecasting models is seasonal forecasting for the menu, customer satisfaction with/without entertainment, and new menu items and its impact. 2. What is the role of the POS system in forecasting at Hard Rock? The POS System counts every person who walks through the do or. The system gathers information from what the customers’ buy or even if they just walk in. From this transaction, they then compile statistics on the average consumer.The statistics combined with data on weather, conventions and food/beverage costs affect the finalized forecasts. Since most of Hard Rock’s information is all gathered into one POS system, it becomes their core of all their strategies and basics for forecasting. 3. Justify the use of the weighting system used for evaluating managers for annual bonuses. Using the weighting system, Hard Rock can more accurately predict sales and the bonuses act as an incentive for managers to exceed previous years sales.The three-year model helps to ensure that managers will strive to make sure the company does well in the long-term to maximize future earnings. 4. Name several variables besides those mentioned in the case that could be used as good predictors of daily sales in each cafe. Some variables that can help as g ood predictors of daily sales would be the age demographic that comes to the stores and the times the come, vacations and holiday times, and when competitors have sales or offers. . At Hard Rock’s Moscow restaurant, the manager is trying to evaluate how a new advertising campaign affects guest counts. Using data for the past 10 months (see table) develop a least squares regression relationship and then forecast the expected guest count when advertising is $65,000. Data: MONTH| 1| 2| 3| 4| 5| 6| 7| 8| 9| 10| Guest count (in thousands)| 21| 24| 27| 32| 29| 37| 43| 43| 54| 66| Advertising (in $ thousands)| 14| 17| 25| 25| 35| 35| 45| 50| 60| 60| Advertising (in $ thousands)| Guest Count (in thousands)| x^2| xy| | | 14| 21| 196| 294| | | 17| 24| 289| 408| | | 25| 27| 625| 675| | | 25| 32| 625| 800| | | 35| 29| 1225| 1015| | | 35| 37| 1225| 1295| | | 45| 43| 2025| 1935| | | 50| 43| 2500| 2150| | | 60| 54| 3600| 3240| | | 60| 66| 3600| 3960| | Sum| 366| 376| 15910| 15772| | | | | | | | | | | y=a+bx| | | x| 36. 6| | investment| 65000| | y| 37. 6| | # of Guests| 60307| | b| 0. 800| | | | | a| 8. 34| | | | | | | | | | |