Financial Analysis

Budget a detailed plan, expressed in quantitative terms, that specifies how resources will be acquired and used during a specified period of time. A budget is a description of a financial plan. It Is a list of estimates of revenues to and expenditures by an agent for a stated period of time. Normally a budget describes a period In the future not the past Purposes of budgeting systems: Planning Facilitating Communication and Coordination Allocating Resources Controlling Profit and Operations Evaluating Performance and Providing Incentives Using a budgeting system companies can:Improve cash flow Optimize product portfolio Minimize salary adjournment Increase the operational level Eliminate breaks In Production process Stabilize debts level Precisely determine the real financing needs In Bangladesh our fiscal year is started from 1st of July and ended 30th June of the next year. Here we wants make a comprehensive analysis of the proposed budget for the upcoming fiscal year 2014-2015. Th e honorable finance Minister AMA Mitch proposed this budget dated on 05. 04. 2014 in Bangladesh national assembly members for the consideration and approval of the said budget.The annual budget t a glance Total size of the budget TX 250,506 core for 2014-15 fiscal year growth target of 7. 3% of GAP The proposed national budget and the economy (FYI), 2014-2015, provides an account of the government's overall fiscal operations in pursuit of its declared goals and objectives to help promote â€Å"accelerated† and â€Å"inclusive† economic growth. It makes a lot of promises about improving government's performance-related scorecard. But it does not shed enough light on why the promises of the outgoing fiscal could not be redeemed and what wrongs there were about meeting its projected broad targets.The political turbulence or violence that was witnessed in the first half of the outgoing fiscal can not be held solely responsible for it. This is more so when the official econ omic growth figure for the outgoing fiscal that Finance Minister AMA Mitch has, in his budget speech, mentioned tends to defy the predictions and projections that were made by different quarters during the period of political volatility and also subsequent to it, taking in view the possible adverse knock-on effects of the turbulence on the performance of the national economy in all its major sectors.If the official growth figure about the entry's gross domestic product (GAP) in the outgoing fiscal portrays the real state of the economy, then there are obvious reasons to discard largely the links between the polity and the economy in the Bangladesh context. How far this is realistic to assume so, despite some clearly demonstrated inherent shock-absorbing capacity of the Bangladesh economy and also the proven resilience of its main economic actors, remains otherwise questionable.Yet then, the figures and data that the Finance Minister has mentioned about the performance of the economy in fiscal 2013-14 do unmistakably bear out shortfalls in any areas of consequence. This is so, in terms of the targets that were set in the Sixth Five Year Plan (SPY) document. The forthcoming fiscal being the terminal year of this medium-term plan that was approved by the government during its immediate-past tenure, it does not require a pundit to state that its goals and objectives would remain largely unmet.This will certainly further compound Bangladesh problems to fulfill its cherished national hope about reaching the status of a middle income country by 2021. If its existing situation does not change for the utter by a quantum leap, it will be well-nigh impossible to meet the whole set of Millennium Development Goals (Meds), particularly in areas like nutrition, effective health coverage etc. , that are much needed for poverty alleviation. In his budgetary proposals for the forthcoming fiscal, the Finance Minister has projected an aggregate expenditure outlay of about Take 2. 0 trillion, reflecting a rise by 15. 7 per cent over the revised budget of Take 2. 16 trillion for the outgoing one. There is no strong reason to consider the proposed size of the next fiscals national edged over-bloated, in view of the fact that overall public (government) expenditures, covering both current and development ones, will still be around 18. 7 per cent of GAP. The share of the proposed current (revenue and non-development capital) expenditures at Take 1. 7 trillion will be 12. Per cent of GAP while that of public investment (ADAPT) at Take 803. 15 billion will be 6. 0 per cent of GAP in the forthcoming fiscal. Such budgetary expenditures in comparator countries. But two critical questions still arise here: Has the government the capacity to implement the proposed national edged, particularly that part of it which concerns the Annual Development Programmer (ADAPT)? What is about the quality of overall public expenditures, to assess their impact in terms of value-for-mo ney, to link inputs with outputs and to count costs against benefits?These questions are of consequence because it has rather become a routine practice in Bangladesh to downsize the ADAPT in the third or last quarter of every fiscal because of implementation shortfall, on one hand, and the poor quality of overall public expenditures in terms of targeting, coverage, leakage, existing conditions of public service delivery, the nagging problem of cost over-runs of development projects due to procrastination of their execution, on the other. This is the sixth national budget that Finance Minister M.A. Mitch has presented during two successive periods of the Miami League (AL)-led government. The main challenge for implementation of the proposed national budget for FYI 2014-15 will lie in areas of arranging financial resources for its funding, without crossing the limit of the fiscal deficit that has been projected at 5. 0 per cent of GAP. If the limit is crossed, it may destabilize the m acro-economic situation and also have some crowding-out effects on the economic activities in the private sector.The National Board of Revenue (N.B.) that collects the lion's part of government revenues, in the form of duties and taxes, has not been able to fulfill its target in the outgoing fiscal, notwithstanding the fact that it had earlier demonstrated its commendable successes in raising the level of such revenue receipts of the government. The new fiscal measures that the Finance Minister has proposed for the forthcoming fiscal ay provide some cushions to the N.B. for augmenting its revenue collections. But the possible impact of such measures on overall economic activities merits a detailed scrutiny.Meanwhile, the N.B. will need to put extra-ordinary emphasis on widening the tax net, winning the trust and confidence of both the existing and potential taxpayers. It needs a shot in its arm to help strengthen its capacity to do this and that, too, by ensuring transparency of act ions by its field-level officials. Overburdening the existing tax-payers with additional doses of direct taxes and creating additional robbers for economic actors in different sectors by way of any irrational tax structure, are certainly no rational policy choice for the government.Higher tax burden may otherwise lead to a greater degree of tax evasion or avoidance. Tax compliance depends, to a large extent, on the rate of tax and duty structure. So far the efforts for collection of domestic resources are concerned, there are strong reasons for the government to raise the levels of its revenue receipts from non-N.B. agencies or departments and enhance the volume of such earnings other than taxes, duties etc. , from different government agencies, autonomous and semi-autonomous bodies and all other relevant sources.The proposed budget for the forthcoming fiscal so. Meanwhile, the availability of the projected external assistance that will be required for footing the estimated budgetar y expenditure, particularly on the development (public investment) side, will be predicated upon efforts to help accelerate the pace of implementation of the aided projects. Here, the developments in the recent years do need to be further consolidated and strengthened to a large extent, if the current situation about a bulging aid pipeline is to be improved. This is another daunting challenge.If the government fails to collect or mobiles the financial resources, both domestic and external, at the level projected in the proposed budget, it will be forced to either cut back its development spending in the second half of fiscal 2014-2015 or to borrow more from both banking and non-banking sources than what has been projected. Neither of these two is welcome. If public investments in priority areas fall short of the target, the potential of the economy to move onto a higher growth trajectory will intention to remain unrealized.If the government's borrowings overshoot the projected level , it will entail most unwelcome consequences. The fiscal deficit will then exceed the projected level, causing macro-economic pressures: the private sector may face resource constraints; interest payments on account of domestic public debt may swell further without enhancing the capacity of the economy to foot the related bill etc. At this stage, it would be worthwhile to draw the attention of all concerned to the imperatives for facilitating the expansion of investment activities in the private sector.The real test of the proposed budget for fiscal 2014-15 lies in this particular area. A synergy of actions will be needed to make this happen. The national budget cannot certainly address all the issues that are badly impacting new private investments. But it has to facilitate the forging of such a synergy. If private investments do not rise, the prospects of the economy to generate new Jobs, create more income-earning opportunities and pave the way for its accelerated growth rate, al ong the desired lines, will continue to delude all concerned. Financial Analysis Budget a detailed plan, expressed in quantitative terms, that specifies how resources will be acquired and used during a specified period of time. A budget is a description of a financial plan. It Is a list of estimates of revenues to and expenditures by an agent for a stated period of time. Normally a budget describes a period In the future not the past Purposes of budgeting systems: Planning Facilitating Communication and Coordination Allocating Resources Controlling Profit and Operations Evaluating Performance and Providing Incentives Using a budgeting system companies can:Improve cash flow Optimize product portfolio Minimize salary adjournment Increase the operational level Eliminate breaks In Production process Stabilize debts level Precisely determine the real financing needs In Bangladesh our fiscal year is started from 1st of July and ended 30th June of the next year. Here we wants make a comprehensive analysis of the proposed budget for the upcoming fiscal year 2014-2015. Th e honorable finance Minister AMA Mitch proposed this budget dated on 05. 04. 2014 in Bangladesh national assembly members for the consideration and approval of the said budget.The annual budget t a glance Total size of the budget TX 250,506 core for 2014-15 fiscal year growth target of 7. 3% of GAP The proposed national budget and the economy (FYI), 2014-2015, provides an account of the government's overall fiscal operations in pursuit of its declared goals and objectives to help promote â€Å"accelerated† and â€Å"inclusive† economic growth. It makes a lot of promises about improving government's performance-related scorecard. But it does not shed enough light on why the promises of the outgoing fiscal could not be redeemed and what wrongs there were about meeting its projected broad targets.The political turbulence or violence that was witnessed in the first half of the outgoing fiscal can not be held solely responsible for it. This is more so when the official econ omic growth figure for the outgoing fiscal that Finance Minister AMA Mitch has, in his budget speech, mentioned tends to defy the predictions and projections that were made by different quarters during the period of political volatility and also subsequent to it, taking in view the possible adverse knock-on effects of the turbulence on the performance of the national economy in all its major sectors.If the official growth figure about the entry's gross domestic product (GAP) in the outgoing fiscal portrays the real state of the economy, then there are obvious reasons to discard largely the links between the polity and the economy in the Bangladesh context. How far this is realistic to assume so, despite some clearly demonstrated inherent shock-absorbing capacity of the Bangladesh economy and also the proven resilience of its main economic actors, remains otherwise questionable.Yet then, the figures and data that the Finance Minister has mentioned about the performance of the economy in fiscal 2013-14 do unmistakably bear out shortfalls in any areas of consequence. This is so, in terms of the targets that were set in the Sixth Five Year Plan (SPY) document. The forthcoming fiscal being the terminal year of this medium-term plan that was approved by the government during its immediate-past tenure, it does not require a pundit to state that its goals and objectives would remain largely unmet.This will certainly further compound Bangladesh problems to fulfill its cherished national hope about reaching the status of a middle income country by 2021. If its existing situation does not change for the utter by a quantum leap, it will be well-nigh impossible to meet the whole set of Millennium Development Goals (Meds), particularly in areas like nutrition, effective health coverage etc. , that are much needed for poverty alleviation. In his budgetary proposals for the forthcoming fiscal, the Finance Minister has projected an aggregate expenditure outlay of about Take 2. 0 trillion, reflecting a rise by 15. 7 per cent over the revised budget of Take 2. 16 trillion for the outgoing one. There is no strong reason to consider the proposed size of the next fiscals national edged over-bloated, in view of the fact that overall public (government) expenditures, covering both current and development ones, will still be around 18. 7 per cent of GAP. The share of the proposed current (revenue and non-development capital) expenditures at Take 1. 7 trillion will be 12. Per cent of GAP while that of public investment (ADAPT) at Take 803. 15 billion will be 6. 0 per cent of GAP in the forthcoming fiscal. Such budgetary expenditures in comparator countries. But two critical questions still arise here: Has the government the capacity to implement the proposed national edged, particularly that part of it which concerns the Annual Development Programmer (ADAPT)? What is about the quality of overall public expenditures, to assess their impact in terms of value-for-mo ney, to link inputs with outputs and to count costs against benefits?These questions are of consequence because it has rather become a routine practice in Bangladesh to downsize the ADAPT in the third or last quarter of every fiscal because of implementation shortfall, on one hand, and the poor quality of overall public expenditures in terms of targeting, coverage, leakage, existing conditions of public service delivery, the nagging problem of cost over-runs of development projects due to procrastination of their execution, on the other. This is the sixth national budget that Finance Minister M.A. Mitch has presented during two successive periods of the Miami League (AL)-led government. The main challenge for implementation of the proposed national budget for FYI 2014-15 will lie in areas of arranging financial resources for its funding, without crossing the limit of the fiscal deficit that has been projected at 5. 0 per cent of GAP. If the limit is crossed, it may destabilize the m acro-economic situation and also have some crowding-out effects on the economic activities in the private sector.The National Board of Revenue (N.B.) that collects the lion's part of government revenues, in the form of duties and taxes, has not been able to fulfill its target in the outgoing fiscal, notwithstanding the fact that it had earlier demonstrated its commendable successes in raising the level of such revenue receipts of the government. The new fiscal measures that the Finance Minister has proposed for the forthcoming fiscal ay provide some cushions to the N.B. for augmenting its revenue collections. But the possible impact of such measures on overall economic activities merits a detailed scrutiny.Meanwhile, the N.B. will need to put extra-ordinary emphasis on widening the tax net, winning the trust and confidence of both the existing and potential taxpayers. It needs a shot in its arm to help strengthen its capacity to do this and that, too, by ensuring transparency of act ions by its field-level officials. Overburdening the existing tax-payers with additional doses of direct taxes and creating additional robbers for economic actors in different sectors by way of any irrational tax structure, are certainly no rational policy choice for the government.Higher tax burden may otherwise lead to a greater degree of tax evasion or avoidance. Tax compliance depends, to a large extent, on the rate of tax and duty structure. So far the efforts for collection of domestic resources are concerned, there are strong reasons for the government to raise the levels of its revenue receipts from non-N.B. agencies or departments and enhance the volume of such earnings other than taxes, duties etc. , from different government agencies, autonomous and semi-autonomous bodies and all other relevant sources.The proposed budget for the forthcoming fiscal so. Meanwhile, the availability of the projected external assistance that will be required for footing the estimated budgetar y expenditure, particularly on the development (public investment) side, will be predicated upon efforts to help accelerate the pace of implementation of the aided projects. Here, the developments in the recent years do need to be further consolidated and strengthened to a large extent, if the current situation about a bulging aid pipeline is to be improved. This is another daunting challenge.If the government fails to collect or mobiles the financial resources, both domestic and external, at the level projected in the proposed budget, it will be forced to either cut back its development spending in the second half of fiscal 2014-2015 or to borrow more from both banking and non-banking sources than what has been projected. Neither of these two is welcome. If public investments in priority areas fall short of the target, the potential of the economy to move onto a higher growth trajectory will intention to remain unrealized.If the government's borrowings overshoot the projected level , it will entail most unwelcome consequences. The fiscal deficit will then exceed the projected level, causing macro-economic pressures: the private sector may face resource constraints; interest payments on account of domestic public debt may swell further without enhancing the capacity of the economy to foot the related bill etc. At this stage, it would be worthwhile to draw the attention of all concerned to the imperatives for facilitating the expansion of investment activities in the private sector.The real test of the proposed budget for fiscal 2014-15 lies in this particular area. A synergy of actions will be needed to make this happen. The national budget cannot certainly address all the issues that are badly impacting new private investments. But it has to facilitate the forging of such a synergy. If private investments do not rise, the prospects of the economy to generate new Jobs, create more income-earning opportunities and pave the way for its accelerated growth rate, al ong the desired lines, will continue to delude all concerned.

Planning And Leading A Complex Team Activity Essay

Be able to plan a complex team activity Since Malta joined the European Union in 2004, the free movement of goods and services within the community, brought about through membership, has re-defined the roles and relationships between suppliersand retailers. It has therefore become increasingly common for retailers to bypass importers/suppliers and purchase directly from the source. In the meantime, Malta being a country with limited natural resources, a favourable climate and long history, Malta’s economy has traditionally been highly dependent on tourism. As a direct result of the current global recession, the number of tourists visiting our island is expected to decline over the next 5 years. This set off an alarm to all importation and tourism dependent businesses causing them to review their business strategy and identify additional business opportunities. My line of business is the importation and distribution of silver filigree jewellery to retail outlets, which target mainly tourists, and summer accounts for about 80% of my total business. So, after I experienced slower than prior year’s growth in sales last year, I started giving serious consideration to opening a single or chain of retail outlets. My primary objective was to deliver my products to tourists directly and at the same time promoting my products instead of relying on my retail competitors to do it. My greatest concern at first was how to deal with the reaction of loyal retail clients to this proposed new strategy. Will they still be willing to purchase goods form me once they perceive me as a competitor instead of a reliable â€Å"partner†? However, eliminating the middle person should almost double my gross profit margin as well as provides me with greater control of my own destiny. In order to go down this path I will also have to consider the capital investment which will be required and the increase in operating costs this change in strategy will bring about. My experience as an entrepreneur has taught me that the competitive analysis of a business plan should be a statement of the business strategy and how this relates to the competition. My objectives therefore includedidentifying the strengths and weaknesses of my competitors within the market, as well as strategies that will provide an edge to develop and prevent my competitors from increasing their market share, and any weakness that can be exploited through product development. When I discussed my concerns with my financial adviser he suggested that I should conduct a feasibility study before embarking on a major change in strategy, and to ascertain that it will be bear fruit for at least ten (10) years. When the study was completed it resulted that, not only was it necessary to adopt this strategy, but that it should also increase profitability on the long run. I then proceeded to put together a five year business plan which identified the need to open at least four retail outlets during the first two years after implementation. However, in order to implement the new business strategy without disrupting the ongoing operations, a qualified project manager had to be identified and recruited in order to lead this project. Once this person was on board, his or her primary objective would be to create and manage the expansion of my business into retail with minimal negative impact on the existing import/distribution business. A New Project Manager was indeed recruited and his first recommendation was to operate the new retail business through a subsidiary entity in order to insulate the already established import and distribution business. He then also proposed setting up a special team, made up of five individuals already employed in the existing organisation, which he would chair, and would be actively involved in creating an action plan leading to the opening and operations of four retail outlets and an organisational structure for the operations of this new subsidiary. This included setting up separate sales, marketing, IT and administration divisions with each division head reporting to an operations manager. My own role would be expanded to that of shadow director of the new subsidiary in order to minimise the risk of damaging our relationship with existing retail clients. Therefore, the four individuals  who were selected to be part of this new project team included one person from each of the fo ur divisions of the current business operations. Re-engineering an already profitable business organisation naturally involves risk. However, if properly managed this will be a calculated one as long as all potential obstacles should be anticipated and properly dealt with. I have learned in the past that whoever is not willing to take risk is not a good leader. â€Å"To win without risk is to triumph without glory† (Pierre Corneille, Pratt, J, J, 2009). One of the cornerstones of the new retail operations is to create uniformity for all four outlets. This included consistent decor, same opening and closing times and days and staffed by smartly dressed sales staff. The action plan created by the new project team listed the need to identify the locations of the four stores as top priority and that negotiating leases would be the responsibility of the project manager. The plan also called for staffing each store with two sales assistants and one store manager. The marketing department would be staffed by one individual to start and the administration department would require a full time human resources professional and one part-time person. This meant that we needed to recruit 15 new employees to make up four sales teams and support for these. The present IT manager’s role would be expanded to support the requirements of the new subsidiary. It will be necessary however to out-source the initial set-up and integration of the new subsidiary operations into the existing IT system and therefore create a centralised data base for all the silver items for all the shops to have access to all stocks. This would enable shops to offer customers special high value items which they do not typically stock in their outlet. Be able to communicate information on the activity to your team. The new project team was scheduled to meet every Tuesday and Thursday of each week from 8.30am till 10.30am. Minutes of each meeting were kept and shared at the beginning of each meeting with each team member. The team chairperson met with me every Friday from 8.30am till 10.30am to keep me  updated on progress and to obtain my feedback. This helped to set a clear framework for all the activities, roles, tasks and goals set by the team. Each team member was chosen to fill a specific role in order to achieve our final objective based on their expertise and experience. The first team meeting was attended by myself, the New Project Manager and the five team members. After introducing the New Project Manager to the team I briefed them on the purpose and aims of this new business activity and provided them the opportunity to ask questions, make any comments and even raise any concerns. The team member from the Sales Division was assigned the responsibility to make recommendations relating to the ideal locations and optimal size of the four shops, as well as the desirable qualifications of the retail Sales staff. Recommendations had to be both realistic and achievable, taking into consideration the high cost of retail space on the island and the limited number of applicants which would be available to choose from. The team member from the Marketing Division was assigned the responsibility to create an image of the retail shop network as well as to propose a three year advertising plan mainly aimed at tourists. Cost projections were to be presented with these recommendations and these had to be in conformity with the resources budgeted for this activity. A member from Finance was also selected to be included in this team. Finance was to first develop a detailed budget for this project which I had to approve. All expenditures related to this project were to be accounted for separately in the finance system in order to closely monitor the project activities. These costs were to be treated as nonrecurring in order to keep them separate from ongoing operations. The Finance team member was also required to set up a financial system for the new subsidiary, separately from the current financial system. However, the two systems were to be compatible in order to facilitate periodic consolidation. The team member from Administration was also responsible for human resource  matters. This team member was assigned the task of searching for the stores to lease in accordance venue recommendations made by sales team member. Human resources were asked to develop an organisation chart for the new subsidiary, preparing job descriptions for the prospective employees, designing vacancy notifications and interviewing prospective candidates. The IT team member would be responsible for identifying the hardware and software requirements for the integration of the subsidiary into the existing IT system. Input from the Sales and Finance team members were critical in identifying specifications required and preparing requests for quotations from at least three different suppliers for the acquisition and installation of these services and hardware. Each team member was required to provide a weekly update on their assignments to be presented at each meeting. Every communication needed to be clear and supported by a task chart. Each team member was also given the opportunity to ask for more details if they were not clear on some topic or if they felt that one member’s actions conflicted in any way with their own plans. For example, it was proposed by the Sales Team member that the shop assistants would need to prepare an order at the end of each week to replenish their stocks. The IT team member had proposed an automated system to do this instead. Be able to review own ability to lead a team through a complex activity This system, though slow to yield results in the beginning, worked well and continued to improve as each member saw how their role and contribution fit into the overall objective. The New Project Manager made sure that each member felt empowered and accountable for his or her role in the project and, as importantly, that the entire team would take credit for the success of the project, not just the team manager. This helped build up team spirit and made every team member feel committed to make the project a complete success. Each team member’s progress report was matched to the master time chart prior  to my weekly meeting with the New Project Manager who also came prepared with proposed solutions to solve any deviation from the plan. Once we agreed on the solutions, these were communicated to the team members at the next Tuesday team meeting. In order to effectively manage a team, such as the one assembled for this complex activity, motivating the team had to be a leader’s top priority. This was achieved by encouraging their participation and asking each member to share their ideas during team meetings. A leader’s role is that of facilitator and coordinator, allowing each team member to take responsibility for their share of the full task and obtaining their commitment to deliver. A leader’s effectiveness is therefore judged by the success of the team in achieving a goal such as the one at hand, namely to set up a chain of four retail outlets to compliment the import and distribution business. Bibliography Pratt, J, J, 2009. Turtle on a Fence Post: Wisdom Graduates Need to Make It in the Real World, 365 Days of Life Lessons. 1st ed. UK: Agio Publishing House, 2009.

Crop rotation

Agriculture, also called farming or husbandry, is the cultivation of animals, plants, fungi, and other life forms for food, fiber, biofuel,drugs and other products used to sustain and enhance human life. [1] Agriculture was the key development in the rise of sedentary human civilization, whereby farming of domesticated species created food surpluses that nurtured the development of civilization. The study of agriculture is known as agricultural science.The history of agriculture dates back thousands of years, and its development has been driven and defined by greatly different climates, cultures, and technologies. However, all farming generally relies on techniques to expand and maintain the lands that are suitable for raising domesticated species. For plants, this usually requires some form ofirrigation, although there are methods of dryland farming; pastoral herding on rangeland is still the most common means of raising livestock.In the developed world, industrial agriculture based on large-scale monoculture has become the dominant system of modern farming, although there is growing support for sustainable agriculture (e. g. permaculture or organic agriculture). Until the Industrial Revolution, the vast majority of the human population labored in agriculture. Pre-industrial agriculture was typicallysubsistence agriculture in which farmers raised most of their crops for their own consumption instead of for trade.A remarkable shift in agricultural practices has occurred over the past century in response to new technologies, and the development of world markets. This also led to technological improvements in agricultural techniques, such as the Haber-Bosch method for synthesizing ammonium nitratewhich made the traditional practice of recycling nutrients with crop rotation and animal manure less necessary. Historical Development of Crop Production Early man lived on wild game, leaves, roots, seeds, berries, and fruits.As the population increased, the food supply was not always sufficiently stable or plentiful to supply his needs. This probably led to the practice of crop production. Therefore, crop production began at least nine thousand (9000) years ago when domestication of plants became essential to supplement natural supplies in certain localities. The art of crop production is older than civilization, and its essential features have remained almost unchanged since the dawn of history. These features are: 1. Gathering and preservation of seeds of the desired crop plants 2.Destroying other kinds of vegetation growing on the land 3. Stirring the soil to form a seedbed 4. Planting when the season and weather are right as shown by past experience 5. Destroying weeds 6. Protecting the crop from natural enemies 7. Gathering, processing and storing the product Origin of Cultivated Crops All cultivated plants were domesticated from their wild species. However, the exact time and place of origin and the true ancestry of many crops are still as h ighly speculative as the origin of man. Man has domesticated some crop species that met his needs before the dawn of recorded history.Most of the domesticated crops were introduced into new areas far from their centre of origin by migrating human populations in prehistoric as well as in recorded times. As a result, both indigenous and introduced crops are grown everywhere in the world. Bikolandia – Rice, corn, coconut, abaca, rootcrops, copra, and banana CLASSIFICATION OF CROPS A new crop classification, the Indicative Crop Classification (ICC) has been developed for the 2010 round of agricultural censuses, and is given at the end of this appendix.The crop classification used in the 2000 agricultural census programme reflected various elements related to crops, including the growing cycle (temporary/permanent), crop species, crop variety (for example, hybrid/ordinary maize), season (for example, winter/spring wheat), land type (for example, wetland/dryland rice), crop use (fo r example, pumpkin for food/fodder), type of product (for example, fresh/dried beans), how the crop is processed (for example, industrial crops), and cultivation methods (for example, crops grown under protective cover).ICC has been developed based on the Central Product Classification (CPC) (UN, 2004a). CPC classifies goods and services into categories based on the nature of the product and industry of origin. Crop products are classified mainly according to the type of crop. CPC itself is based on the Harmonized Commodity Description and Coding System (HS), a classification of the World Customs Organization. CPC is also broadly compatible with ISIC, in that the industry of origin is related to ISIC. ICC is also consistent with the classification of commodities used in FAO’s on-line database, FAOSTAT.From a statistical point of view, the crop classification should be closely related to the product classification, and to some extent to the economic activity classification (IS IC). The crop classification refers to which crops are grown, whereas the product classification refers to the product(s) generated from that crop. Thus, â€Å"mustard† is an oilseed crop, whereas â€Å"mustard seed† is the oilseed product. There is not always a one-to-one correspondence between a crop and a product. The same crop may yield two products – for example, cotton may yield cotton fibre and cotton seed. Philippines – Crop production indexCrop production index (2004-2006 = 100) The latest value for Crop production index (2004-2006 = 100) in Philippines was 111. 00 as of 2009. Over the past 48 years, the value for this indicator has fluctuated between 113. 00 in 2008 and 29. 00 in 1961. Definition: Crop production index shows agricultural production for each year relative to the base period 2004-2006. It includes all crops except fodder crops. Regional and income group aggregates for the FAO's production indexes are calculated from the underlying values in international dollars, normalized to the base period 2004-2006.

Employment Law Compliance Plan Memorandum Essay

The following memo is an Employment Law Compliance Plan for Landslides Limousines. The plan summarizes key federal and Texas State employment laws. This report also includes recommendations and consequences of these laws. Please note that Landslide Limousines is subject to additional laws if the business exceeds employing more than 50 individuals. If Landslide Limousines fails to comply with the laws highlighted in this memo, the company is subject to serious penalties, including hefty fines, lawsuits, and possible prosecution. The federal law requires that all businesses in the United States comply with standard laws. Some of the laws include the Equal Employment Opportunity Commission (EEOC), the I-9 Employment Eligibility Verification, and the Social Security Act (1935). Additional laws include the Americans with Disabilities Act (ADA) and the Federal Unemployment Act. It is imperative that Landslide Limousines complies and understands what these laws detail. The EEOC law prohibits any business from discriminating against its employees. Both the EECO and the Texas Workforce Commission Civil Rights Division (TWCCRD), mandate that businesses cannot discriminate against any employee based on race, sex, religion, disability, or age (Employee Rights & Laws, 2013). According to the law, â€Å"Employers with 15 or more employees engaged in an industry affecting commerce, employment agencies, and labor unions are prohibited from denying equal employment  opportunities† (Business Employer Requirements, 2013, para. 3). Failure to comply with either of these laws will result in potential lawsuits by employees and potential financial loss for the company. Employees have the right to file a claim against their employer if they believe that they experiencing discrimination. According to the Department of Labor (2013), if the complaint is valid the â€Å"Employee may be entitled to a remedy that will place you in the position you would have been in if the discrimination had never happened. You may be entitled to hiring, promotion, reinstatement, back pay, a pay raise, or reasonable accommodation, including reassignment† (para. 12). The I-9 Employment Eligibility Verification is required for any employee. The Immigration Reform and Control Act, states that the United States employers must verify the identity of all workers (Employee Verification Compliance, 2013). Employers must check documentation like identification, social security card, work visa, passport, etc., to ensure that employees are legally able to work in the United States (Employee Verification Compliance, 2013). The EEOC and the TWCCRD, work to enforce the law. If a business violates these employment laws, penalties like fines, and possible prosecution will ensue. The Department of Homeland Security, Department of Labor, or office of Immigration can investigate any business, when they so chose. If errors are found in the I-9 documentation, forms are missing, or if it is discovered that an employer knowingly employs an unauthorized worker, Landslide Limousines is subject to serious penalties (Employee Verification Compliance, 2013). Penalties for I-9 paperwork errors can include fines up to $1,100 per employee (Employee Verification Compliance, 2013). Studies show that the number of employers, who violate I-9 employment eligibility verification, continues to rise (Employee Verification Compliance, 2013). Therefore, it is imperative that Landslides Limousines pays close attention to this. Texas Payday Law is a law that Landslides Limousines needs to be knowledgeable of. The law states that employers are not required to pay employees additional wages for working holidays or weekends (Texas Payday Law, 2013). This is at the digression of the employer. Rest breaks over 20 minutes and lunch breaks exceeding 30 minutes must be paid. Texas law requires that wages â€Å"must be delivered to the employees at their regular  place of work during working hours, mailed by registered mail, or by direct deposit to be received by the employee no later than payday† (Texas Law, 2013, para. 2). Under Texas law, employees can file a claim for unpaid wages. They may do this up to 180 days from when pay is due (Texas Law, 2013). If an employee is laid off, quits or is fired, the employer must pay the employee owed wages by the next pay period (Texas Law, 2013). Employers are not required to pay employees vacation pay, unless this benefit is offered in writing before or during employment (Texas Law, 2013). The Texas Department of Safety Health Consultations (OSHCON) is a program that is available to businesses by the Texas Department of Insurance. Companies with fewer that 150 employees are entitled to a free inspection (Business Employer Requirements, 2013). If companies â€Å"meet the federal requirements, they are exempt from a scheduled inspection for 12 months† (Business Employer Requirements, 2013, para. 1). This is a program that Landslides Limousines needs to take advantage of. All businesses must meet federal requirements to operate legally. Landslide Limousines is eligible for a free inspection because it employs fewer than 150 employees. A free inspection also saves the company money. To comply with Texas child labor laws the company should refrain from hiring individuals under the age of 21. Due to the limited hours that a minor is able to work in the state of Texas, Landslides Limousines should hire individuals over the age of 21, have excellent driving records, and at least five or more years of driving experience. A background check and a copy of employees driving records are needed from the insurance company. The limousine industry requires that employees have flexible hours such as graveyard shifts. This is illegal for anyone under the age 18. Minors are unable to work before 5 a.m., or after 10 p.m. (Chapter 15 Texas Labor Code, 2013). Federal law also states that minors cannot exceed more than three hours of work on a school day. In addition, minors cannot exceed or 18 hours during a school week (Chapter 15 Texas Labor Code, 2013). Employers who violate the child labor law can be charged with a misdemeanor (Chapter 15 Texas Labor Code, 2013). Under Texas State law, â€Å" If an employer violates child labor law, in addition to criminal penalties TWC may assess an administrative penalty against the employer up to $10,000 per violation† (Texas Child Labor Law, 2013, para. 3). To save the Landslides Limousine money, we recommend that Landslide  Limousines refrain from offering employees benefits, until the company exceeds 200 employees. This approach saves the Landslides Limousines money, which allows the company to expand its clientele. Federal law states that employers are not required to offer health insurance benefit plans (Cascio, 2013, p. 477). However, beginning in 2014, â€Å"employers with more than 50 employees, including full time-equivalent employees, who do not offer healthcare coverage and have at least one employee receiving a tax credit for health-coverage premiums will have to pay a penalty of $2.000† (Cascio, 2013, p. 477). Landslide Limousines will need to be aware of this law should employment exceed 50. As Landslide Limousines begins to grow, the company will need to be aware of the laws required for medium and large businesses. The company needs to continue to follow and stay current with all Texas State and federal laws. This will help avoid penalties like prosecution and fines. We recommend that an additional evaluation be conducted at the end of the year. Please let us know if there are any further questions regarding the information provided. The company is more than happy to discuss the above listed laws further in detail. References Business Employer Requirements. Texasopenwideforbusiness.com. Retrieved from: http://www.texaswideopenforbusiness.com/small-business/requirements.php Cascio, W.F. (2013). Managing Human Resources (9th ed.). New York: The McGraw Hill Companies. Chapter 15 Texas Labor Code. 2013. Texasworkforcecomission.com Retrieved from: http://www.hrp.net/wp-content/uploads/2013/03/childlaborlaws_faq.pdf Employee Rights and Laws. 2013. Texas Workforce Commission. Retrieved from: http://www.twc.state.tx.us/customers/jsemp/employee-rights-laws.html Employee Verification Compliance. 2013. Cmrkmurrah.com. Retrieved from: http://cmarkmurrah.com/lawyer//I- 9_Compliance_Assistance_pa11620.htm Department of Labor. 2013. DOL.com Retrieved from: http://www.dol.gov/ofccp/regs/compliance/factsheets/wprights.htm#Q12 Texas Child Labor Law. 2013. Texasworkforcecomission.com Retrieved from: http://www.twc.state.tx.us/ui/lablaw/texas-child-labor-law.html#penalties

Ethics and Morality of Business Essay Example | Topics and Well Written Essays - 2500 words

Ethics and Morality of Business - Essay Example Career development programmes are not just altruistic pursuits. These are followed keeping the future human resource requirements in mind. Similar is the case with ethics. Given a level playing field, most organizations do not shy away from ethical behaviour. With the explosion of information and the communication revolution, the media plays a crucial role in building and tarnishing reputations of businesses. Hence, every organization tries to enhance its reputation among all its stakeholders. Ethics is a novel outlook for businesses that have single mindedly pursued the bottom line so far. Hence, there exists a twilight zone where business and ethics meet. In the modern world, differences are blurring and concepts are getting re-defined constantly. Business can reap benefits without compromising on basic human values. There is no need to give up on competitiveness to be morally right. Hence, it is possible to conduct business ethically, which is essentially a win-win situation. Conc epts Rationalism dictates that everything should be useful and justifiable. Utilitarianism and utility analysis as used by business vary significantly. When a firm uses a utility, it weighs the positive and negative consequences of a certain action as it relates to itself; and a utilitarian analysis weighs these  'results of an action on everyone affected by it' (De George, 2010, pg 44). Morality is concerned with creating good consequences, not having good intentions. One should do whatever will bring the utmost benefit to all of humanity. Morality guides people’s actions in order to create a better world. Bentham (1748–1832) is rightly considered the father of modern utilitarianism. He explained utility as the balance of pleasure and pain that a human being experiences (as cited in Binmore, n.d.). â€Å"The principle of utility . . . is that principle which approves or disapproves of every action whatsoever according to the tendency which it appears to have to aug ment or diminish the happiness of the party whose interest is in question.† (Bentham Jeremy, B. E. 1748-1832). Bentham thought that entire morality could be derived from ‘enlightened self-interest’, and that a person who always acted for his own satisfaction in the long run, would always act rightly. However, there are critics of Bentham. ‘The good’ cannot be quantified or measured. Similarly, the notion or definition of ‘the good’ was extreme. At the same time, other considerations like human rights and justice, which are relevant, are ignored. John Stuart Mill said that happiness in not the same as pleasure. Man shared the lower quality ones with animals for e.g. food, water etc. The higher quality pleasures were unique to man and involved the higher faculties (Mill, 1863, Pg 11). He showed that utilitarianism was in sync with moral rules. Utilitarians ought not to calculate beforehand whether each action would maximize utility. Instead , following a general principle (under which a particular action falls) leads to happiness. Henry Sidgwick highlighted common sense morality, which is morality accepted by the majority without detailed thinking involved, in his book Method of Ethics (Crisp, 2000). He stated that not all principles of common sense morality are apparent. He was in favour of ethical hedonism according to which any action should produce the greatest amount of pleasure. He was of the opinion that no man should destroy his own happiness (Ibid).

General overview of john stuart mill- Utilitarianism Essay

General overview of john stuart mill- Utilitarianism - Essay Example Mill’s Utilitarianism actually conflicts with the idea that moral actions is dependent on the will of God and that the pleasure that the person gets from performing these acts is the crucial test of good and evil. Mill was one philosopher that believed so much that individuals have the right to decide and do what is best for them and in their own interest rather than base their decisions on other people’s interests. Mill was of the opinion that individuals must seek the truth and make judgments through strictly monitored, unassuming and tolerant dialogue. Mill believed that is the duty of every individual to take decisions on actions that are in their best interest. He also believes that people should be more tolerant of other people’s opinion rather than rely on force to make people reason along with them as this would go a long way in making the truth known about a particular subject matter. Mill uses a non-relativistic perception of truth and belief to work ou t the notion on toleration. However, Mill believed that this is needed by people to arrive at the truth. On the issue of human reasoning, Mill gave the idea that the reasoning of human beings is unique and valuable.

National Service Framework - Standard 5 The role of the nurse Assignment

National Service Framework - Standard 5 The role of the nurse - Assignment Example What measures can be taken to prevent this and in such cases how the patients should be treated. The goal of National Service Frameworks to deal with older adults in stroke pathway. The aim of this to report is to identify the health policy on care delivery from practical life. To ensure that the public and the professionals understand the cause of stroke, the symptoms of a stroke and what measures should be taken if someone gets an attack. The discussion of the report will follow the description on stroke and related issues, how efficiently NSF works towards its perspective to take care of the patient and their family. The main objective is to get the clear idea of the role of nurse, post stroke nursing care along with the inter-professional team. Apart from this other various health promotion to raise awareness also would be the part of the discussion. 2. Introduction to National Service Frameworks 2.1. What is a National Service Framework (NSF)? National service frameworks (NSFs) and strategies provides efficient quality requirements for care. These strategies are based on the available facts on which treatments and services can be effective for the patients. These strategies have various strengths that include building relationships with health professionals, patients, carers, health service managers, voluntary agencies and other experts. The historical perspective of NSF is to make a better world for the older people. England is said to be known as an aging society. Since the early 1930s the number of aged people was over 65 years. According to a recent survey, it has been found that every fifth population of England is over 60 and which will increase to 80 between 1995 and 2025. Thus the concept of NSF to build a better world for older people raised and they form this unit to take both social care and health care services. The National Service Framework is pioneer to ensure fair, high quality, integrated health and social care services for older people. T his is a long term planning program which NSF ensures. It frames 10 year program of action raising awareness to promote good health, to support independence, special acre and services for any conditions and cultural change so that all older people and their carers so that they get respect and can live with dignity and equality. We need National Service Frameworks because it will give us support from every perspective to deal future condition of old age. It will help to create awareness for good health and making people conscious about stroke and hazards. The experts and hard work of NFS had led the way in developing the standards. The Goals and Purpose of NSF To improve standards of care To help older people to stay healthy Better long term funding Extending access to services The NFS will shape its services depending on individual patients, their families and their carers. [Standard 2] The NSF will support and value its staff. The NSF focuses on conditions like stroke, fall and men tal health problems of older people. They have made 10 year framework to deal with arthritis, respiratory diseases in older people. To respect every individual Promoting healthy and active life 2.2. Introduction to National Service Framework for Older Adults- Stroke National Service Frameworks (NSFs) were established to improve various services by setting up national standards to check quality and care services. The main aim of this specific NSF Respecting the individual is