Mindmap of Chapter 15:Critical Path Analyses

Chapter 7 Summary Mind Map

Barker Ltd analyses-Final part

4.0 Recommendations:

Overall the farm seems to be in a weak state.Two main options: to sell and moving into the crisp market.There are many factors that success depends on such as the financial problems,bargaining position,probability of success,the prices of the product which is produced at the moment(potatoes) and the demand for the product and so on....

There is a small amount of net profit gained for business.The return on capital employed is just 0.83 which is a very small reward for business.So this is the obvious point to be an evidence for moving into crisps market.Also the acid ratio shows the low liquidity of the business.Also the loan is much more that the business actually earned,which may cause risk and difficulties to the business to make decisions and invest in the future.

The proportion of 2008 sales to its main customer is 80%,ehich means most of the products has been sold by the leading UK supermarket.However the prices has been falling down 18% ,plus the forecast shows us that in the future potato prices will rise(+10%)...but actually it will fall because of inflation(an increase in RPI:+18%).So there's no point to stay in this market as the price of the product will fall therefore this will lead to a fall in revenue and probably profit as well.

These 2 reasons are the most important factors to consider about to move into crisp market.Other factors that prove that it's more beneficial to move to a new market is the background of staff.
As Romily has been working in the Walker crisps company and has made a rapid progress there,therfore she has to be very experienced and has knowledge about the new market.
The decision tree shows us that there are more possibilities of success than failure in financial terms of the business.
Furthermore, demand for crisps is likely inelastic(PED=0.6).this is beneficial because the business could have greater control over the price as there are less competitors.

My recommendation is that to move to the crisp market.Eventhough, the proportion of the Uk adult population that is overweight or obese will likely to increase ,plus there is oligopoly in the crisps market so that there are barriers to entry, accepting to move into the crisp market is still more hopefully and beneficial than staying in potatoes farming.

Apology for HW

HEllo guys,

Hopefully u'r waiting for my post about the recommendation for the business which was set till midnight today.But I'm not at home at the moment for private reasons,and I didn't bring the case with me...So...a big big sorry,and I promise my recommendation HW will appear right here tomorrow:))

I still remember that I have homework:D

Lex is back with his daily blog!

Summary of Chapter 3:Using financial data to measure and assess performance(Part 2)

WORKING CAPITAL

Working capital(net current assets)=current assets - current liabilities

The working capital cycle:

Factors influencing the level of working capital:

1. The nature of the product: Items such as clothing that must be displayed in order to entice customers require higher inventory levels that those that do not need display
2. The durability of the product: Companies try to have lower levels of inventories of perishable items or finished products that may become unfashionable
3. The efficience of suppliers: If suppliers can supply large quantities at short notice ,a business will be able to hold lower inventory levels
4. Lead-time: If it takes a long time to make a product,companies will be more likely to hold them in the stock
5. Customer expectations: If the customer is prepared to wait ,it may be unnecessary to hold inventories;if the customer wants the item immediately,inventories should be held.
6. Competition: A business needs to match its rivals,so invetory levels are influenced by the policies of competitors

• Causes of working capital difficulties:

1. Failure to control inventory levels: as high levels of inventories 'tie up' resources unnecessarily and cost the business money in storage costs
   
2. Poor control of receivables(debtors) : a firm that allows receivables to delay payments needs to hold higher levels of other current assets,such as cash ,as a precaution.
   
3. Cash-flow problems: a firm that pays its payables too quickly will damage its working capital.
   
4. Poor internal planning and coordination: If individual departments of a firm are unable to meet targets ,working capital problems will occur.
   
5. External factors: Unforeseen changes can affect consumers' tastes.If the business is not able to adapt quickly ,this may lead to unsold stock or low levels of cash.
   

• Solving working capital problems:

1. Inventory control : Ideally inventory levels should be maintained at a low level,as this means that less money is tied up in inventories
   
2. Low inventory levels: reduce the needs of storage space,and the chances of damage,deterioration and obsolescence.
   
3. Receivables control: this can be achieved by:

• Managing credit control
• Chasing up late payers
• Obtaining a credit rating
• Controlling the quality of the service of the product
  

Summary of Chapter 3:Using financial data to measure and assess performance(Part 1)

Because I haven't got my books yet from my lovely EF...and my school is motivating me by that way,and supporting me in studying ,and because I just have the copy of chapter 3,which Mr.Chris copied to me so I will summarise it...= =

• Company accounts:

*The balance sheet: a balance sheet or statement of financial position is a summary of a person's or organization's balances. Assets, liabilities and ownership equity are listed as of a specific date, such as the end of its financial year

*Income statement: Income statement, also called profit and loss statement and Statement of Operations, is a company's financial statement that indicates how the revenue (money received from the sale of products and services before expenses are taken out, also known as the "top line") is transformed into the net income (the result after all revenues and expenses have been accounted for, also known as the "bottom line").

• Purposes and users of company accounts:

Internal users

1. MAnagers: managers use information to record financial activities,plan appropriate courses of action,control the use of resources,and analyse and evaluate the effectiveness of actions and decisions taken in financial terms
2. Employees: employees can assess the security of their employment and the ability of the firm to provide them with reasonable wages by examining the financial position of the business.
3. Owners and investors: Investors want to compare the financial benefits of their investment with alternatives,such as shares in different companies or placing their savings in a bank.

External users:

1. Government: The government wants to know that the business has met its legal requirements and that it has paid certain levels of tax.
2. Competitors: Competitors are able to compare their performance against rival companies and benchmark their performances.
3. Suppliers: Suppliers want information about a firm's financial situation before agreeing to supply materials
4. Customers: Customers want to know if the company is financially sound and that guarantees and after-sales servising agreements are secure.
5. The local community: The local communities relies on businesses for employment and wealth creation.

• Analysing balance sheet:

*Assets:

• Non-current assets: tend to be owned by an organisation for a period of more than 1 year
• Current assets: tend to be owned for less than 1 year

*Key terms:

• Assets:items that are owned by an organisation
• Non-current assets: resources that can be used repeatedly in the production process
• Tangible assets: non-current assets that exist physically
• Intangible assets: non-current assets that do not have a physical presence,but are nevertheless of value to a firm

*Liabilities:

• Current liabilities: are debts scheduled for repayment within 1 year
• Non-current liabilities: are debts due for repayment after more than 1 year

*Capital:

• Share capital:the funds provided by shareholders through the purchase of shares
• Reserves and retained earnings: those items that arise from increases in the value of the company,which are not distributed to shareholders as dividends,but are retained by the business for future use.

• Purposes of the balance sheet:

1. Recognising the scale of a business: adding non-current assets to working capital and gives an overall view of the capital employed by a business and thus its overall worth
2. Calculating the net assets of a business:The balance sheet shows the overall worth of a business:its total assets minus its total liabilities.
3. Gaining an understanding of the nature of the firm: the structure of a firm's assets may give information about the nature of a business
4. Identify the company's liquidity position: Comparing liquid or current assets with current liabilities shows whether a firm is going to be able to avoid cash-flow problems
5. Showing sources of capital: the balance sheet shows whether a company is raising its finance from retained profits or long-term loans
6. Recognising the significant of changes over time: Continual scrunity of the balance sheet can identify any undersirable changes that take place
   

Business Evaluation:Deluxe golf carts as neighbourhood transportation

There's been plenty of lip service paid to electric vehicles in recent years, but the fact remains that in many communities, they're still more frequently discussed than actually seen. Not so in several U.S. neighbourhoods, however, where golf carts and other diminutive electric vehicles are part of the very fabric of community life.

With many of the same gas-free benefits offered by larger electric vehicles—but considerably lower price tags—neighbourhood electric vehicles, or NEVs, are the transportation of choice for residents of several large retirement communities, Golf carts are a common sight on the streets and specially designed paths of The Villages community in Florida, for example—and not just the ordinary, plain-vanilla variety. In fact, many of the community's 77,000 retired residents "pimp their rides" to look like fire trucks, 1930s roadsters and stretch limos, Wired reported, spending as much as USD 20,000 in the process of swapping in bigger tires or hacking engines to surpass the traditional golf cart's maximum speed of about 20 mph. Similar sights are apparently seen in other communities around the country, including the retirement mecca of Sun City, Arizona, and the all-ages suburb of Peachtree City, Georgia. Accessories are sold by companies like GoNEV.

Driver's licenses are not typically required for most golf carts, but full-fledged NEVs—which are street-legal in most states—require insurance and registration, Wired reported. Either way, such vehicles offer not only eco-benefits and credentials, but apparently also those of the more neighbourly kind: "If your neighbour is in his yard, you can't drive by in your golf cart without waving and saying hello," Gary Lester, VP of community relations for The Villages, told Wired. Chrysler's Global Electric Motorcars is one major maker of NEVs, selling its vehicles for as low as USD 3,644 with tax credits.

Lower prices, fewer emissions and social benefits on top of an eco-iconic appearance and government tax incentives? Legal and insurance issues notwithstanding, sounds like a potential winner to us. Who will put golf carts at the forefront of *your* community's next planning venture...?

The base arguement for this type of car is "is it neccessary and reasonable for demand for cars nowadays."So there are 2 main discussions:

• Advantages:
  

In the credit crunch situation like this,pepople are likely to safe as much money as possible.So with the low price such as USD 3,644,its not expensive to buy a car.So probably,this could be a good idea to expand this product to the market.

It has a lot of benefits and convinient for people to use it like with many of the same gas-free benefits offered by larger electric vehicles—but considerably lower price tags—neighbourhood electric vehicles.Therefore,pollution will be reduced and negative externality will be less. Also,

Driver's licenses are not typically required for most golf carts, but full-fledged NEVs—which are street-legal in most states—require insurance and registration.. so people will not waste their time to get a driving licence and it's a very simple type of transportation.

• But there are plenty of costs in this product as well.

First of all,money invested to supply and produce the product is high.It has high technology equipments and materials,which needs a big amount of money from the start.So in the long run,with economy of scale,it may gain profit as the average cost per every unit is getting lower.

Secondly,the speed of this type of transport.It just has maximum speed of about 20 mph,which is very low competing with other cars.So in needs of emergency or busy work,this car won't help much.

This type of cars is so simple that it even doesn't have windows....so what's the point of driving it,if there's no windows.Furthermore,if you look at the pictures of those cars,it just has 2 sits on it which means,it's definetely not suitable for big families.

Summary Mindmap chapter 4 Business A2

Summary Mindmap:Balance sheet

The most detailed mindmap about Balance sheet ever:D

Ethical question

"A fellow employee told me he plans to quit the company in two months and start a new job which has been guaranteed to him.Meanwhile, my boss told me that he wasn't going to give me a new opportunity in our company because he was going to give it to my fellow employee now.What should I do?"

There are 2 situations for this case:

• If I'm a substitute with that fellow employee:

So in my own idea,staying with that company is the right choice.Because,it's a big opportunity for me to stay at the company,because I could be sent to higher hierarchy.It's beneficial if that fellow employee will leave,therefore,the place for me to be replaced of him is quite safe.

So why not staying at that company,wait till he leave,and have his job,withi higher responsibilities and higher hierarchy.Also,the boss will understand,that if he will give that fellow a new opportunity,it will be W.O.S because he will leave and it will cost a lot to retrain and reemploy.Also it may cost because of recruitment .It's quit not very ethical because our benefit will be our fellow employee's leaving.But......still,this how competition work...We have to compete to improve..and to survive

• If I'm not a substitute for that fellow:

So there will be no opportunity for me if that fellow will leave.In other way ,there's nothing affecting me if he leaves.Because,anyway if he leaves,I will not be instead of him doing his work,so there will be no new opportunity for me.So there will be other employees who might do his work.Also For the Y-theory workers such as me ,no responsibility and achievement means "failed".

But I could probably make or force the boss of the company to do that fellow's work by affecting his brain.I'll also move to another company,and for the company,people leaving is not beneficial,especially at the same time!Others might feel demotivated and they may reduce their productivity or even move as well.So the boss may try to keep me and motivate me by giving that fellow's job.IF this won't even work,Therefore leaving the company and find a new job will be the best choice

Revision MindMap:Problems of transports that the Government faces

Answers to practise exercise 2:page 26

1.Non-current assests(fixed assets): 191

2.Currents assets: 57

3.Current liabilities: 26

4.Net current assets (working capital): 31

5.Non-current liabilities: 16

6.Net assets (total net assets): 206

7.Total equity(capital): 206

Group exercise 5:An armaments manufacturer saves 1000 jobs by supplying arms to North Korea!

Supplying arms is one of the main businesses for the Government.Therefore,Governments of many countries will be the main customers of this business.Especially in the countries that have wars,or cold wars,demand for arms will be price inelastic.So arms manufacture may make a big revenue by supplying arms to other countries.

They will have to invest in the defence army of the country.Therefore,thay have to buy arms for protecting,and suppliers will be satisfied because of the high demand in the war,the place of killing and fighting.So,this is an ethical problem as well.PEople who sell arms facilities will be against moral thoughts.They sell products and material which kill people,so they are killers as well.

In another hand,unemployment will be reduced as it will safe more than 1000 jobs.Which is quite a lot.So it improves country's economy because of reduction in redundancy and unemployment.Also,the government may put a high tax on it,and may increase their budget.So that this is the good way of making a budget surplus

Dilemma 7:The liar

Poor Zjamel.Her boyfriend seems to spend more time with Ethel than with her these days."Are you two having an affair?" she asks him,more by way of a reminder that she exists,than out of any real concern

But Bernand is having an affair with Ethel.On the other hand,he doesn't look on it as a "serious" affair.Ethel is married,and he is basically quite committed to Zjamel,who has been through a rough patch recently.He doesn't want to upset her,eventhough he doesn't like lying either.Gritting his teeth then,and remembering Nietzsche's dictum that "lying is a necessity of life",just part of the "terryfying and problematic character of 'existence",he says:"Of course not,darling",and gives her a big kiss.

Zjamel's heart picks up ,and she feels much better.And anyway,in a few months Bernand and Ethel have got bothered of the affair and no one ever thinks about the matter again

To discuss this,first of all,....I'm not married...how can I know???????????

But anyway,I think he did the right choice."Lying is a necessity of life"This makes sence as well.

Friedrich Wilhelm Nietzsche was a 19th century German philosopher and classical philologist. He wrote critical texts on religion, morality, contemporary culture, philosophy and science, using a distinctive German language style and displaying a fondness for metaphor, irony and aphorism. Nietzsche's influence remains substantial within and beyond philosophy, notably in existentialism and postmodernism.

"Lying is a necessity of life",just part of the "terryfying and problematic character of 'existence",especially in this case,probably this lie saves his future marriage and could be his life.Even though lying is negative but in some cases,it's needed.The easiest example of that is doctor's ethic.If the doctor recognised the patient has deadly illness,he can't say straight face to face with him that there's no way of saving him.If he told so,it will be the same as kill the patient.Therefore,he will have to lie to cheer him up and there could be chances to help him to escape from the illness.

According to the business,lie could be beneficial but also causes problems as well.Imagine every worker in a company cheats on the financial factor of the company,and reports fake reports to the manager,of course it won't be equily between workers and managers.This may affect the future of a whole company or the sales and profit of the company.
In my opinion the only person who can lie is the head of it.As they have the highest power of the business,therefore,they can do without affecting other members of the company

It's about philosophy+business,,,my brain is not for phylosophy...= =,,I hate it

Business Idea(Why not?)

Today when I was eating lunch,I and my friend were talking about how awful the breakfast is and how repitetive the lunch is!

And then I found out that why not open up a small fast-food restaurant right next to EF?Ok,Now I'll evaluate this idea.I think this idea is really relevant and reasonable for residence students

First of all,This fact is well known in EF.Everyone can interview any student who's living in EF residence..how awful the breakfast is...It's always always always the same!!!!Bread and cereals.I love cereals so much,but when I came here...I eat it everymorning...And I started to feel EWWW when I see it...Ok...Can u imagine everymorning FOR WHOLE 2 YEARS eating bread and cereals!!!!!!!!!!!!:(((((((((If you want to know detailed about breakfast u can see my old post)

And also,students complain about the lunch food is becoming worse and worse.What's the problem.Maybe because eating the same food for a year,like me, is tooo boring and all people who were studying here for a long period of time get tired of it...
Why???We paid a lot of money,to get awful breakfast and lunch...No WIFI in their own rooms,broken cases in the room,broken washing machines even though they have just been replaced..and totally new....= =

So by opening a fast food restaurant next to EF school will attract EF students very much in my opinion.They can exchange their meal.sometimes eating in the new restaurant with delicious and cheap food...and sometimes in EF.The main customers will be EF students.It can't be located right in the Pullens Lane because there are no people around to advertise.In another hand,it can be located in London Road right next to Pullens LAne,so the time to move to the restaurant won't be wasted a lot....

Nice idea isn't it?:D...Surely one thing,the demand for EF students will be price inelastic.

Mind Map:Business Studies A2 Unit 1 Chapter 1 Revision

Here is my mind map about the key points of chapter 1

How can EF increase their profit(continuos)

I just recognised that the first and the most important factor that EF may increase their profit is.......Increase the WIFI QUALITY!

Why not?.WIFi is one of the facilities that a school must have.For example,before I have a choice between 2 colleges.One in Reading and one EF Oxford.So I asked both of them,do they have WIFI?And the college in Reading they said,they just open it on weekends...not like in EF,WIFI is opened widely and full timed.So that's why I chose EF...but......
Well,Ef tried so well....to create a new assess point in new residences but...without turning on for a whole week!!!!!And from when I came to the school,there is no WIFI in my room!!!!!OMG!!!!.....
How about blogs???How about UCAS????How about tutor2u?????...Without WIFI..I cant come tot hose usefull websites:D........

Please......Please EF...I beg u....can u instal for us a normal WIFI access point...with normal quality...I can't do my daily blog!!!!!!!!!!!!!!!!!!

Beavis and Butt Head

HAhahahaha:)))BEavis and Butt Head is so funny:)))Recommend to all to watch this cartoon...
A big thanks to Mr.Chris=))))

Niall Ferguson-Historian and author

Reduce the national debt

There is usually a budget deficit in the country's economy,and UK is not the exception.UK has high economic growth ,but that doesn't mean that UK has a budget surplus.UK imports a lot form many countries such as China,or imports high technology products such as Japan.So the Organisation for Economics Co-operation and Development estimates that the UK national deficit will rise to 14 percent in 2010-the highest in the Western World.

Therefore as you can see how big is the debt for British economy.In longterm,this will cause many other problems.Furguson argues that the scale of this debt burden will cause interest rate on government bonds to rise,making long-term inflation likely.

So probably,Ferguson's way is quite reasonable for the situation like this.But the problem with this is the government will reduce their spendings and may raise taxes.It could be a direct tax or indirect,which will not be beneficial for people and this may lead to inflation as well.Because,with high tax,people will claim for higher wages.So the labour cost has increased and this may increase the price of all products.

Also,the government will reduce their spendings on national health service and education,or in infrastructure investment.Furthermore, ceteris paribus,the aggregate demand will reduce

High-speed rail

High-speed rail is a type of passenger rail transport that operates significantly faster than the normal speed of rail traffic. Specific definitions include 200 km/h (125 mph) and faster — depending on whether the track is upgraded or new — by the European Union, and above 90 mph (145 km/h) by the United States Federal Railroad Administration, but there is no single standard, and lower speeds can be required by local constraints.

High speed trains in the Midwest would be three times as energy efficient as cars and six times as energy efficient as planes. Additionally, trains pollute less than cars and airplanes, improving air quality.
At distances of less than 400 miles, high-speed trains can deliver you downtown-to-downtown almost as fast as airplanes at a fraction of the cost, and can do so in virtually all weather.But the problem is,is it neccessary for a short trip such as from Oxford to London?OF course not because the ticket fee is probably much higher than taking a coach,so it's more convinient to sit on a coach for just almost an hour to come London

Furthermore,to invest in those infrastucture such as high speed rail needs a big amount of money!So it will reduce government's budget.This will lead to a decrease in investment of the Government to NHS or education.
But The economic value of the improved mobility has been valued at $13.2 billion through 2030.But this is just expectation,with a credit crunch like now,people will not be easily to attract to this way of travelling.

Cost-effective

• Costs just $1 million per mile – less than 1/10th the cost of highway construction.
• Every dollar of cost yields between $1.70 and $2.50 of benefits

But this is a really good way of reducing congestion for the country's economy.Many people like travelling and also in the future high speed rail will be instead of underground system so there will be less public transports,such as normal trains or buses.And there will be less negative externalities because of pollution

WOW Finallyyyyyyyyyyyyyy!!!!!!!!!!!!!!!!

How EF can increase their profit?

Firstly,EF can increase their sales revenue.By that way,if the cost will be the same so the profit will increase.Therefore,EF can make or encourage people to come to learn.So there will be more customers for EF.There are quite many ways of attracting people to come to learn.Because EF is a global English learning system so advertising is quite important.Otherwise,other language learning schools will have opportunity to compete with EF.EF can advertise on the TV,and because EF is well known and in my opinion, it has a big benefit from finance,so the cost of advertising is not a big deal for EF.Or EF can advertise straight to people like providing and supplying school bags,pens,stationery stuffs with their brand name in it.And also they can add some interesting phrases in it to attract people to buy.
But the most important factor to consider about,especially in the period of the credict crunch is lower their PRICES PRICES PRICES.(especially fo books:D).Considering thi stationery stuffs,the main aim for supplying i could be just advertising.So it can provide those stuffs with low prices but high quality.
Or EF can create some activities and more facilities directly in schools.Some schools such as in Oxford they have machines for drinks already.So it will be beneficial if there will be game machines but you have to pay for it.Some game addicted people,demand for it will be inelastic....And I know in EF there are some:D
Also EF can reduce its cost.Reducing cost is easy,for example buy lower price facilities,such as EF Oxford billiard:D.It was broken for a short period of time,so maybe because it has a low quality and low price as well.
Anyway,the best way of increasing EF’s profict,is lower the price in everything...books,learning fees..Everything,then I will love EF so much:)))<3<3<3

Shai Agassi - alternative energy pioneer

Oil is one of the scarce resources.As we all know there are limited scarce resources but unlimited wants.So one day those scarce resources may cause a high increase in inflation because of the demand for oil.It will cause a demand pull inflation..Therefore,there are many invations creted to substitute the usage of oil.One of those invations is electri vehicle which use battery in stead of oil...= =.....

"Agassi's new place applies the business model of mobile phones to cars:the customer buys or leases an electric vehicle from a partner car company,and then pays a per-mile rate for battery usage"Don't you thing this idea will attract people to invent on?
The materials to use in this invention is very dear.Therefore ,the product can't be cheap as well.

Also it's more convinient to use oil than charge electricity because it won't waste your time on your way.Furthermore,it will be a big trouble for users to use it..if the battery is empty and you're on your long way.

Well the biggest benefit from it I think will be :

• Lower the demand pull inflation because the demand for oil is lower.
• And less pollution which causes negative extrenalities.

Cars using oil,causes a lot of pollution and it will cause many troubles in the long run for third party people,especially on health.This also will lead to an increase in cost of National Health Service.

"we're going to spend 800 million pounds in teh off-chance that we'll get the entire countru going without oil-oh,and 650 million pounds will go into creating green jobs tomorrow morning.Would you say it's worth a try?" said Mr.Agassi....Well he's right but not all poeople know about the cost of oil,so I think this way won't help a lot.especially within the crisis period, with a such an high price of the new product...poeple won't buy it:D

Extra work page 23

Economics ia a social science ,a study of people in society and how they interact with each other.Is it possible to use a scientific approach effectively in a subject that deals with human beings???

What????= = ><

Case study question 2

*Using examples,discuss the extent to which appropriately set functional objectives and well-planned trategies might help Sainbury's achieve its corporate objectives

• Space growth-10% new space by March 2010.
• Development of grocery and non-food ranges.
• Costs -cost savings of 155 million pounds in 2007/08,thereafter ongoing cost savings to offset half their operating cost inflation
• Channel growth through online and convinience expansion
• Profit-profit growth flowing through at a percentage rate in high single digits
• Sales growth-total addition sales of 3.5 billion by March 2010
• Capital expenditure of 2.5 billion by March 2010
  
• Cash flow neutral over 3 years

To achieve it's corperative objectives Sainsbury has to maximise its profit and increase their reputation.

By increasing it's profit the company has to increase their sales.For example:"reaching more customers through additional channels" so more customers will come..more products they will sell...the sales increased.
Or by lower the cost it may also increase the profit."Cost savings of 155 million pounds in 2007/08""OR "capital expenditure of 2.5 billion pounds by March 2010" which can be a miinimum investment to have the lowest cost.

To increase their reputation,for example:" great food at fair prices: to build on and stretch the lead in food."Of course for a customer,the factors that they care most is the price and the quality.By that way,with a cheap price,more people will join to be Sainsbury's customer,and the reputation of the supermartket of course will be improved.OR " Channel growth through oonline and convinience expansion",by internet more people might know about Sainsbury because interenet is very well know and well used in the last 20 years.OR" growing supermarket space will encourage and attrat consumer to be satisfied and the image of the supermarket will be good and it's beneficial for the supermarket's reputation:D

Hurbank plc

Hurbank plc is a long established British producer of luxury clothing and accessories.Heavy investment in marketing,extensive use of British image in it's promotions and good media coverage have positioned Hurbank as a premium brand.Therefore,this brand supply giffen goods.

According to the table of details of Hurbank plc,annual pay of factory floor staff is 18000 pounds per annum,which is generally suitable for the floor staff.Annual labour turnover 3% per annum which is very low,and a big benefit for the company.Percentage of shirts returned by customers last year due to defects is 0.01% and it's very very beneficial!According to that data we can conclude that their products are high quality products and may have a good reputation.

According to appendix B unemployment in the region of the new factory in China is 14%.Well China is a coutry which is over popullated ,therefore 14% of unemployment is quite high in my view.So it could be a benefit for the company because it will be easy to recruit wokers there.Average annual pay within Chinese region and average proposed annual pay for the staff in Chinese factory is very low.So the cost of labour is reduced a lot.But I'm not sure about the lead time to retailers is benefiacial or not.Because it's 4 weeks...So it's 4 times longer than in Cellton factory.So if the lead time is too long,the quality of the product and the trust of customers will be reduced.

In appendix C Sales and profit has been improved .And may have a positive trend so the financial problems to open up in China is quite not a big deal.But percentage of shares owned by international investors including pension funds and banks is 55%,so therefore 45% is a share for manageres and authorities,which in my view is quite low

But in overall,Investing and opening a factory in China is beneficial for the company,and I would invest on this :D

Chris Anderson-Pop Theorist

Reinvent business woth digital economics

Chris Anderson shows us how digital businesses and online services are so usefull and well known nowadays.Therefore,people may use this strength to start up a business or use them during the business progress.

His 2006 book "The Long Tail" explained the economics miracle of Amazon.com,illustrating how a company could make more money selling niche products than mass products thanks to the internet's infinite shelf space.It catapulted him to the A-list of best selling pop theorists.

I totally agree with his idea.Nowadays,almost all people know how to use computers and networking,which was not quite well-known 4o years ago.The advantage of that is,it's easy to research,easy to trade and also the fastest way to find informations about the products.There are no shops that don't have a website included.

Furthermjore,the cost for the owner of the business will be less.They don't have to spend a lot on advertising.Advertising on the internet is also very easy.OF course,by television,the details and information about the product will send faster and also higher quality advertisement.But for simple products,which can be inferior goods,which are reasonable for the crisis ,is quite a good way to advertise.

Anderson says the most interesting new business models follow a "freemium" template:that is,free product that sell premium services.This is the model used with success by software applications such as Spotify,Skype or Wordpress.

So Chris Anderson's Theory is quite right and I agree with his opinion."The old model for business was 'make something people will pay for'.The new model is people will want and something they'll pay for'.

OMG!

I cant access to the network....There is no wifi in my room..and It's so cold outside to sit and post blogs...Anyway it's till Tuesday..So I'll do it tomorrow.....EF is still....BS!

Evaluation:Lapdesk

A new business idea has come out,which called a lap desk
The All new UNIQUE "Desk for Your Lap" - overcomes back posture problems and uncomfortable sitting positions when you are trying to write on a pad of paper balanced on your lap.
Perfect for Meetings and Conferences, Ideal for work in the office or at home, Brilliant for children in the back of the car on journeys, THE Best companion for wheelchair users.
The LAPDESK features a quick and easy to use system of creating the perfect lap-based angled writing surface while the folder sits comfortably on the users lap.

So this new product is definetely suitable and reasonable for disabled people,especially people on wheelchairs.It's hard for them to stand up and use a desk so they can use lapdesk ans their moving desk.Therefore,any wheelchair people can be a businessman.The strength of this product is the design.It's a really small size and light bag,which we can put anything in it.

But why people have to invest in such a product that have so many competitors.Even just a book which u carry with can be a desk as well.Or as a businessmen,they all have their own laptops,where they can put papers on it and use as a desk.
Also the lap desk won't be useful at night or in the dark places,because it doesn't have light on it.

*Strengths:

• Easy to carry with
• Useful for disabled people
• Can be a general bag in stead of a desk
• Good design
  

*Weaknesses:

• Too many substitutes
• Too simple business idea
• Just useful for businessmen,not for students or non-business people

In my opinion I won't invest in it because of those weaknesses.

• 
  

Kip McGrath

This is what I found about KipMcGrath centre.This post is for tomorrow lecture for AS students.
Speaker: professor Lex...xD xD xD

There are over 680 Kip McGrath Education Centres in 20 countries around the world. The curriculum is adapted for each country but the successful learning and business methods are maintained. Last year Kip McGrath Education Centres earned approximately $80 million in tutoring fees. In any school week over 50,000 children are being helped in our centres.

All Kip McGrath Education Centres are owned by franchisees (in the same way that individuals own McDonald's restaurants). The company provides support to all Kip McGrath Education Centres around the world. If you’re interested in buying a franchise, review the links below to investigate the current opportunities.

Our business methods work and our franchisees are very happy people. We have brought sound business practices to education, an area that traditionally has lacked these procedures.

Part of our success is making sure that:

• Our Franchise Owners are well trained and engaged in the process.
  
• We provide organised and easily accessible materials.
  
• We’re always finding new ways to introduce new technologies that excite our teachers and students.
  
• We promote a culture of success.
  
• We always provide company support.
  
• If you’re interested in buying a franchise, review the links below to investigate the current opportunities.

To own a Kip McGrath Education Centre you must:

1. Really care that children are literate and numerate.
2. Be willing to learn our business methods that are taught in our training courses.
3. Be able to interact with the teachers employed in the centre.
4. Be a trained and qualified teacher or employ teachers.

Sir Richard Branson-Virgin Boss

"Entrepreneurs-meet the developing world

Smile and say:"the worst the crisis,the greater opportunity.".That's Sir Richard's view of the recession.It might be yours,too,if you were just finishing your lunch of chilled champagne and grilled lobster on your private,sun-washed beach.But then nobodo offered the Virgin maestro his own Caribbean island.Nor the chef.Nor the maseuse waiting for him under the palm tree.

Sir Richard knows a thing or two about recessions-he reckons he's lived through a handful of them,and if he's sure of one thing,it's that recessions provide an abundance of opportunities.

"A good entrepreneur,very early in life,thinks of the world as one place,",he maintains.Chase after the opportunity wherever it arises.With a wry smile,he nuances that old advice,saying you might do better yet to hop on a Virgin Atlantic plane.He shares the emerging consensus that developing countries will lead the world economy out of recession,and that returns on investments will be higher there for the foreseeable future.That's where to look for the next dawn."

Sir Richard Branson tried to prove that there are plenty of opportunities to make a business be more successful and suitable for the crisis.His opinion shows people just need to catch a chance and have a relevant business idea to suit the credit crunch.

Virgin Group Ltd is a branded venture capital organisation founded by British business tycoon Sir Richard Branson. The core business areas are travel, entertainment and lifestyle, among others. Virgin Group's date of incorporation is listed as 1989 by Companies House, who class it as a holding company, however Virgin's business and trading activities date to the 1970s. The net worth of Virgin Group Ltd as of September 2008 is £5,010,000,000.So that,Virgin is quite well-known brand.

In my own idea,I think he's definetely right.There are many opportunities for many businesses to be better.The main key point is the price.In reccession,the lower price,more people will buy your products.So the only way to increase sales,is increase the volume and sell it with a low price.People might not buy expensive and high quality products like giffen goods because their income is low.

For example: supermarkets might have more customers because it sells cheap products.In stead of going to pubs and buy expensive can of beers,consumers may buy those inferior goods in the supermarket because of the low price.Therefore,in the crisis period of time,supermarkets,which is one of the examples,will have an opportunity in business

Revenge!!!!

I'm back!!!!...From now on.....I'll come back to my daily useful blog!!!:))..And "now on"...will be next Monday:))

My thoughts...!

HAizzz....A year of studying together has been passed...Actually it's so fast.I'll leave this week and maybe some of you I won't see you guys again!But the time was cool anyway with you guys,and I think we all have to be pleased to Mr.Chris that helped us so much and created this DAILY BLOG!I know this kinda nerdy post and I know I'm silly in classes,I'm stupid and childish in my attitude,some people treat me as a gay...(which is F***ing not true)...but I just think I will miss you guys...all of you...and even next year we will not meet each other...We will be good friends....

(Stupid post but it's just my emotions...:D)

Thank you a lot Mr.Chris....and your wife as well:D:D:D:D
Good luck to everyone!!!....T_T

Scientists tout swine flu breakthrough

Barca 4 life!Unlucky the Blues....

This what I found about the swine flu,the vaccine could be founded.

Therefore,get the desease faster and you won't have to take the exams...:))))

Mexico relaxed strict controls aimed at containing swine flu Wednesday after a five-day lockdown, as officials heralded a scientific breakthrough towards finding a vaccine for the virus.

Offices and restaurants in Mexico -- the epicentre of the virus -- reopened despite officials conceding that the death toll had now risen from 29 to 42.

Meanwhile the number of cases in the US showed a sharp rise, Sweden became the latest country to confirm infection and China claimed the epidemic was worsening.

Canada offered hope for efforts to contain the outbreak, announcing that its scientists have carried out the first complete genetic sequencing of swine flu, referred to as the A(H1N1) virus by the UN's World Health Organisation (WHO).

Speaking after neighbouring United States confirmed a second fatality from the virus, Canadian Health Minister Leona Aglukkaq told a press conference in Ottawa that knowledge of the virus had "taken a great step forward."

In Mexico, Health Minister Jose Angel Cordova said 42 people had been killed by the outbreak and that more than half the victims were between 20 and 29 years old -- an age group not normally badly affected by other flu bugs.

Cordova also said the number of confirmed infections in Mexico from the virus had risen from 913 to 1,070. The WHO says more than 1,500 people around the world have caught swine flu including some who have never been to Mexico.

Mexican authorities still pressed ahead with the reopening of offices and restaurants. High schools and universities are set to open on Thursday, to be followed by primary schools and kindergartens next Monday.

The emergence of the virus, a new strain that has combined human, swine and bird influenza, set off fears of a worldwide pandemic, even though the death toll has been relatively low and in line with any "normal" flu bug.

Countries have imposed a range of measures to prevent a dangerous and massively deadly global outbreak, hitting the tourism and travel industries and hurting Mexico's economy which was already weakened by the financial crisis.

Some of the measures have been denounced as an over-reaction and the WHO said it was asking countries that took "significantly different" measures to combat swine flu, such as restricting international travel, to justify their actions.

Meanwhile the number of confirmed US cases of swine flu surged by 60 percent Wednesday to 642 from 403, with infections reported in three more states and the death toll now at two.

New states reporting infections were Hawaii and Washington, which confirmed three cases each, and Oklahoma, with one case, according to a daily tally compiled by the Centers for Disease Control and Prevention (CDC).

With 41 states now reporting confirmed cases of the disease, the CDC website also upped the US death toll to add the first death of a US citizen from swine flu. The victim was a woman in her thirties "with chronic underlying health conditions" who died in a Texas hospital on Monday.

Although the worst initial fears about the deadliness of the outbreak have not been realized, Mexican officials say the economic cost has been steep and estimate it has cost the country 2.3 billion dollars (1.7 billion euros).

While only China -- the origin of the 2003 SARS epidemic -- and a handful of Latin American countries cut travel ties with Mexico, several airlines, tour companies and cruise lines suspended trips to the country.

"Chinese medical experts believe the global epidemic situation is still worsening and China has to give continued high attention," Vice Health Minister Zhang Mao was quoted as saying by the official Xinhua news agency.

Relations between Mexico and China were badly strained when 70 Mexicans were placed under quarantine in China after one Mexican in Hong Kong was confirmed to have been infected. They were eventually flown home on Tuesday.

A group of Chinese nationals who had been stranded in Mexico returned home on Wednesday before being immediately quarantined.

All 119 passengers and crew on a government-chartered Boeing 777 were isolated after arriving at Shanghai's Pudong International Airport.

Champions League!

Come back from the football match but never forget to work!
OH...disappointed match for Arsenal....Hope next season though......
Anyway,MUFC played so good in this match.

Evaluation: "firewheel" rubber band machine-gun

This toy weapon variation for children(boys?) fires rubber bands in quick succession like,unsurprisingly,a machine gun.
The new product has been developed in Australia.This product is for entertainment,and a useful way to solve disspointness.This product is just a simple gun but a little bit more creative.IT's ammo is made by rubber bands.It sounds simple but not.The design for the product is very creative.It can shoot many rubber bands at the same time or could be shooted one by one rubber band.And the company guaranteedthe safe of the rubber band,that this product didn't create a lot of damages.

But it's quite simple as other gun toys.Therefore,for this product there are too many competitors,and this is the new product.And there is no guarantee about the product's quality.
Also it's useful and fun in the nice weather.But if it's rainy,snowy or especially windy,so the rubber band won't work properly because the rubber band is too light.So that,it can be blowed and become boring.And the demand for this product is just under 16 I think,for juniors and children only.

The strength of this product is also the good design with many colour choices.So it will satisfy the consumers' taste.

"The design of the Firewheel was developed over quite a number of years through 3 distinct stages of prototyping (see Photo)

The Firewheel is manufactured from good quality materials which will tolerate quite a bit of misuse and abuse before failure.

The typical thickness of the mouldings is 3 mm, which you will find is quite a bit thicker than most other similar products, and due to its weight and styling, it feels like a real gun

The injection moulding tooling is made from high quality nitride-hardened steel, to maintain the accuracy of the components, and a high level of quality control is required during the assembly of the components, to achieve the result required.

The robustness and quality control, enable us to offer a genuine lifetime guarantee against faulty materials or workmanship. If it breaks, and you believe it was not your fault, then we will either repair or replace it."

*Strengths:

• Good design
• Totally safe
• Creative in type of shooting in this product

*Weaknesses:

• Just for young age group
• Not guarantee the quality.
• Just can be useful in the good weather
  

This is the video of the product:

Happy Birthday.!

Happy birthday Mr.Chris.
Best wishes for u...
and be always happy with Shazmin!:D

Why????.....

....Why my I have A SOAR THROAT and ALWAYS SNEEZING????!!!......I feel scared,3 days already.....Not a joke....!

Swine Flu Homework!

The swine flu could be *good* for the economy because everyone is going to run out and buy cold medication and hand sanitizer - do you agree?

First of all,Swine flu is a serius desease that may affect in people's life and it causes lower living health and standard as well.This is a one kind of flu and causes lower health and demotivate workers to work.Therefore,it leads to a decrease in productivity and may reduce the achievement of the consumers expenditure.Therefore,because of the swine flu, aggregate demand will shift to the left which may cause unemployment in the long run.As,swine flu is flowing over people's environment,people will go outdoors less will buy less.This may leads to a decrease in the AS.So Swine flu is the big problem to the economy of the country and causes many problems.

For example in Mexico,there is the biggest number of people that have swine flu.It may affect on Mexico's international trade.Other countries will buy less Mexico's exports,not only pork but also other kinds of meet,because they afraid of the illness will appear on their country.So this will make balance of payment deficit even worse.Therefore,at the average point,the swine flu really harms country's economy.

But it depends also on the which country.The swine flu will have less chances to be appeared in the countries that have religions against pork meet like Muslims.For example,Kazakhstan or Arabic countries will have less chances to have swine flu,therefore,other countries will expect that there's no swine flu in Muslim countries.This will make exports of meet in Muslims countries to increase a lot.And this may cure the balance of payment deficit,and boost AD and AS in the long run.

People may go out and buy a lot of anti cold medicines or hand sanitizer and this will increase demand for it,but the problem will be their spending on the medicines to increase government's revenue is much less than the cost to teh social.This deasease is infected,therefore,it's a negative externality as it also cost to the third party.Therefore,the Government will have to spend a lot on the NHS and it will be much more expensive than people's spend on cold medication and hand sanitizer.And as people will have more swine flu,it will reduce pructive capacity of a country in the luong run because of a decrease in productive capacity!

Therefore,I don't agree that swine flu will benefit the economy.

Champions League!

Well today's match wasn't very interesting with many dangerous shoots but it makes the next match will be more interesting.The score was 0:0 between Chelsea and Barca.
Now starting to revise for tmr mock!:)))

OMG!!!!!!!!

OHHHH my gooooood!!!!I just realised that in the economics mock....the last 18 marks question I did it completely opposite!!!!!!!!Oh My god,why I'm so stupiiiiiiiid!!!!!Ahhhh....
Damn meeee!!!!
I was so lucky that it was just a mock.I didn't read carefully the last question.

Therefore,thanks to EF that makes these mocks exams to improve these experients,and preparing us to the real exams.

Now,my experient was...Read Read Read and Read very carefully the questions,even it's really short.Ok,the question was:"What are the causes of the economic growth?"...Well it sounds simple isn't it.But if you read it roughly,you may make stupid mistakes and misunderstood the question like me!....I understood the question....like....What economic growth causes....???...Oh dumb me!!!!....
No comments please!!!!!Again,thanks to EF but anyway I'm thinking of moving school!:)))

Examiners reports!

• (a) (i) Identify 2 characteristics of a public good

A very small number of candidates failed to identify the two characteristics as instructed, and whilst marks were awarded for explanations which were clear and accurate, in a few cases marks were lost because the instruction word was not followed

• (ii) Explain 2 reasons why "education" is not a public good

A common error was to try to explain rivalry in terms of the existence of several competing schools in local areas whilst examiners were looking for some explanation of rivalry in consumption – namely that the use of education by one candidate may well diminish the quality/availability of education available to others.
In addition, whilst many answers gained reward for stating that education could be seen as being excludable because some parents cannot afford fees or because people live outside of a school’s catchment area, a number of candidates tried to explain excludability in terms of one candidates use of education limiting another’s. This was clearly not accepted as an explanation of excludability.

• (b) (i) Explain what is meant by externality

This question was well answered with a large majority of answers receiving both marks for a simple explanation of externalities being effects upon a third party.

• (ii) Identify one possible example of a positive externality arising from education.Explain why this is a positive externality

Quite often candidates failed to respond adequately to the second instruction within the question – to explain why this was a positive externality. Whilst simple reference, for example, to social benefits exceeding private benefits would have gained both explanation marks this was often missing as candidates simply explained the nature of the benefit in much more detail. Such answers which often lacked relevant economics usually only gained one mark for the identification.

• (iii) Using a diagram,explain how the existence of positive externalities can lead to market failure.

Given that a sizeable minority of diagrams had shown supply shifting, it was not surprising that some responses then went on to explain how subsidies could be used to overcome market failure. This ignored what the question asked – namely, how the existence of positive externalities resulted in market failure.
Better answers focused upon the issue of under consumption and explained that this would arise as a result of individuals basing their consumption decisions solely upon their private benefits and, therefore, ignoring the external benefits of their actions. This was then developed in terms of the resulting underproduction leading to allocative inefficiency and a misallocation of resources. Clearly such responses which answered the question directly using accurate economic terminology were well rewarded.

• (c) (i) explain why market dominance can lead to economic inefficiency.

Weaker responses tended to ignore the economic efficiency aspect of the question and, instead, focused simply upon the ability of dominant firms to raise their prices with little real development of this. Specific reference to, and use of, productive and allocative efficiency were needed for full marks on this question.

• (ii) Explain how competition policy can be used to stop firms abusing their market dominance

The most common mistake on this question was to look at the advantages of increased competition rather than how the government could use its competition policy to stop the abuse of market power – quite a different question. Unfortunately, where candidates mistakenly took such an approach, then very few marks could be awarded.

• (d) The information provide states that the government may subsidies the supply of products which generate positive externalities.Discuss the effectiveness of subsidies as a solution to a market failure arising from positive externalities.

Even where relevant evaluation was lacking, candidates often gained up to six marks by analysing the impact of subsidies, often using an accurate diagram.
The only difficulty arose where candidates used this question as an opportunity to write about other forms of government intervention. Unfortunately, given that the question required specific discussion of subsidies, such answers could not be credited.
Overall, with candidates clearly well prepared for this final question, the responses were generally very pleasing indeed.

BGT Episode 3!

More and more competitors with Susan Boyle....Hollie Steel!

And..more and more competitors with Flawless:Diversity!

Choices....Confusing.....Dissapointed.....

Now I'm confusing,dissapointed,......I have many choices now....Mill Hill school,Abbey,Ashbourne,Padworth or...Oxford Tutorial College.I have 2 choices before,between Padworth(Reading)...and EF (Oxford).Both I had 30% discount...And I chose EF...which is an unlucky choice.
Now this is an experience....Never watch schools videos to make choices such as this one!:

Why does the aggregate demand curve slope down?

Aggregate demand (AD) is a curve showing the total amount of goods and services (real GDP) that will be purchased at different price levels.
As in the AD,AS diagram u always can see that AD curve slopes down.It has a negative slope.Why???

Three explanations for the negative slope are:
1. Interest rate effect
2. Real balance effect
3. Foreign purchases effect

• Interest rate:

Well, as price level rises so therefore the money supply will fall.Bcause real money supply falls,this leads to an increase in the interest rate.As interest rate rises, investment spending falls because of the increased cost of borrowing to finance investment. As investment falls, aggregate expenditure (AE) falls, in turn leading to a fall in real GDP (or Y).

• Real blance effect:

Real balance effect (also known as real wealth effect or real money balances effect):
It is proved through consumption and expenditure. As price level rises, purchasing power of money balances falls. As our real wealth falls, we will cut back on our consumption spending,which means consumption will decrease.Therefore,this will leads to a decrease in Real GDP in the economy.

• Foreign purchases effect:
  It is applicable only to open economies with foreign trade being introduced into our explanation. With an increase in domestic price level relative to those of trading partners, domestic consumers will spend less on domestically produced goods and services and more on imports (M). Also, foreigners will buy less of our exports (X). The increase in M and decrease in X (that is, a decrease in net exports) means a decrease in real GDP.

To explain why AD slopes down,we can prove by an increase in the price level leads to a decrease in the Real GDP,therefore,AD slopes down to show that correlation.

Discuss how an increase in aggregate supply may effect output and inflation!

eases
Aggregate supply is the total supply in the economy of a country.Inflation is there's an increase in the price level.An increase in aggregate supply may caused by raw materials became cheaper or a decrease in the worker's wages.An increase in the aggregate supply will increase outputs in an economy.In the long run,an increase in aggregate supply will leads to economic growth and could be beneficial because it will also reduce unemployment as there's an increase in Real GDP so that,more jobs will be available for unemployed people.AS increases will also make domestic products be more competitive,and also the country will be available to export more.As exports are on of the components of AD,and ceteris paribus,AD will likely to increase as well.
As in the diagram below explains the affect of an increase in AS to Inflation.

A shift righwards in AS will leads to an increase in the price level.According to the diagram,the price level decreased from P1 to P2 which means inflation has been reduced.As AS increases,there will be more outputs produced by firms and industries in the economy.So that,inflation is likely to be reduced because there are no scarse products with high cost materials,and also to increase AD as well.




However in the long run,an increase in AS will also leads to an increase in AD.So that,inflation will be depend on how much an incease in AS compare to AD.Because if AS increses and economy is growing so AD will grow as well.And if it increases more than AS therefore it will be a demand pull inflation.Also it depends on how much AS increases,if AS increases too much,and AD can't exceed it,therefore there will be overproduction and waste of materials and resources.

Jelly Click Mouse!

If you find a computer mouse too hard and unyielding,this Jelly mouse could be a winner as it feels floppy and like...jelly.

The business is about new mouse that can be folded and become a really small mouse with taking not a big space in your luggage.But actually...this is not the good idea and a creative product.

Well the strength of this product is as i can see it can be fold to be really small so that,the technology to do this product is quite new.If you've ever attended a trade show or, indeed, gone on holiday, you'll know it sometimes something of a challenge to cram all your geek gear into one bag.It can be done but usually means sore shoulders and unusual bulges.Also,it can be blowed up to be a normal mouse so that's why it called jelly,which is a little bit createfuk.

But everyone knows that a mouse of a laptop is not a big product.Even the biggest mouse could be fitted in a small case of the luggage.And also,the design of the product is not colourful and nice.Just simple and looks weird.I don't like this product.And another problem might be if it will be broken,so it can't be fixed because...there' no screws to open it.So just throw it then.

*Strengths:

• Can be folded smaller.
• Can be blowed up to use
• It can stand heavy things because it's jelly.

*Weaknesses:

• Bad design
• Hard to fix
• Not very suitable because normal mouses are small as well.
  

Brittain got Talent!!!!

Hahahahahaha...Ye ye ye...Brittain got it...!!!!!
It's here!
Whaaaaaaaaat!!!!!!!!She got through the round.......!!!!!OMG>......Now I know what is women's strength......... ~ ~...No evaluation here.....

Anyway,This season,one Susan Boyle or FLAWLESS will defenetely win or guaranteed to get to the final...Amazing...I'm staying awake until 3 am to watch BGT...Here are FLAWLESS!!!!!Damn perfect!

Evaluation:Airzooka,Air bazooka!

I want a long and healthy life,so Im doing a daily blog....~ ~


As a variation on other toy"weapons" for children,the Airzooka shoots only air.Live demostration in front of children to harness their "pester power" is highly recommended.It also glows in the dark.

This new product is very safe and fun.It's called Airzooka because it shoots just air in front.So that,it will be just like a strong wind goes through like a bullet.Children might like this product because in young minds they have creative imaginations.Also parents don't have to care about the product because it's an absolute safe!It's a really simple but useful gun!
But the main thing it's just relevant for very young children,at the age of juniors or teenagers,demand for this product won't be high.And it just can shoot small and light objects such as cards or plastic cups,which children might get bored of that.

How does it work?
All you have to do is pull back the elasticated rear section and release it catapult-style. Airzooka then propels a powerful pocket of air straight at your intended target. It's a bit like having an invisible pair of mega-powerful bellows. With its walloping phantom blasts, Airzooka is ideal for convincing workmates there's a poltergeist in town, or simply confusing them to the point of insanity. They really won't know what's hit them!

You can also have immeasurable fun ruffling a vain colleague's hair, furtively blowing his/her paperwork all over the place, or indulging in a little target practice with a few paper cups. So what if Airzooka resembles something that Dick Dastardly might use to bark orders at his Vulture Squadron. The point is, this colourful cartoon-esque contraption is brilliantly simple, never runs out of ammo and brings a whole new meaning to the phrase 'air gun.'

STRENTHS:

• Simple product and low cost
• Very safe
• Never runs out of...ammo...=))

WEAKNESSES:

• Just relevant to very young children
• The decorations of a product is bad.
• Children might get bored easily
  

Case study answer!

Question:To what extent does the experience of Nick Hess and Foodeaze show that break-even analysis is of little value to an entrepreneur starting a new business??

Answer:
Break-even point (BEP) is the point at which cost or expenses and revenue are equal: there is no net loss or gain.With Break Even analyses,the entrepreneur can meet and may exceed the guarantee of not making a loss.It may manage and set up a plan and aim to sell that amount of a product to make sure and check that selling that product is not making a loss.Also,by break even analyses,it may control and check is the business going well and does it meet the aims of selling the amount of products that have been set up.According to the case study,the financial planning for Foodeaze was thorough and at first all went well.Within 5 weeks of opening the business was close to it's break even level of sales.So that it means the entrepreneur knows how his business is going,and also helps to make later decisions.

But the break even analyses is not included all factors that might affect on the sales of the business.It just calculates and includes simply as price and volume to sell.It can't always go straight way like that and there are more factors to care about.About the volume,the business can't guarantee that it can always sell all of that volume.And the price in break even analyses is always the same,but in a business of course you have to have pricing strategies to be relevant to business.It doesn;t consider also about other factors like competitors,economy situation so that it might be wrong or too simple.In the case study,the new store nearby sells similar products led to sales falling and break-even becoming a distant possibility.So this is the experience of Foodeaze not always accord to Break even analyses because it doesn't include competitors research.

In conclusion the break even is useful for starting up businesses but we can't always relate to that to make choices because it might be wrong.BE analys is just the first steps of planning to make profit.

Podcast:Recession hits rural communities!

I was listening to the business podcast in BBC and it explained how recession hits rural communities.And also interview citizens there about what they feel and what are they going to do to try to help themselves.There's a serious effect of recession on these communities and also it decreases their living standard.

Cornwall and other rural parts of Britain are being hardest hit by the recession, according to new research from the Commission for Rural Communities.In parts of Cornwall more people are applying for available job vacancies than anywhere else in the country and there's also a shortage of job centres.

The rural communities hurt by recession very much.According to the latest research,in Cornwall and other poorer cities have the highest increase in unemployment and Cornwall is particularly badly hits.The worse thing is that in that places,the job centres are closing down rapidly and in Cornwall 6 job centres are already closed.So it means that unemployment is increasing and also job centres are closing down.So what can be worse.It's very hard to find a job centre and this leads to a difficulty of finding a available job vacancy.

The problem is not in the job centres that they're closing down,said the worker in the job centre,but the problem is that they're trying to excess jobs for people and they're failing in it.And also they're trying to create jobs online.And people that are seeking for work are having a hard time.

The problem is,is it done enough to fix this bad economy situation and also to cure the unemployment,which is rising sharply.

Finally...I found out!!!!

When I look at the left picture of a small girl on the right I noticed smth but I didnt recognise it!!!
That younger girl...looks like my younger sister (right hand side picture)!!!Look look look!...
Same glasses and my sis has the same pink and white t shirt like that....hahahahaha....Nice......More connections....hmmmmmm...xD

EF help!!!Breakfast is important

Well as we all know breakfast is incredibly important and also as many researches,it said that breakfast is the most important meal of the day!
Well so what we have on EF's breakfast.
Please note that it's always always always the same!

First choice Banana OR Apple OR Yogurt OR Juice(Which is the same as dinner as well,and notice the word OR)
Second choice is White or Brown toast
Third choice is Milk
And a cup of tea or coffee....!

Well it sounds bit a lot BUT...how can we live for 2 years and everyday eating the same!Same toast,same banana or apple or yogurt or whatever but there are mountains of complainings about a breakfast,because it doesn't change................................!!!!

This is the research about the breakfast on Yahoo!

IS BREAKFAST THE MOST IMPORTANT MEAL OF THE DAY?

Don't try to cut calories from your day by skipping breakfast. Recent research from a study conducted in both Venezuela and the U.S. indicates (once again) that breakfast is an important meal.

This study, which included 94 obese women, showed that a big breakfast (610 calories) that included plenty of carbs and protein, when followed by a smaller lunch and an even smaller dinner, resulted in significant weight loss over several months, when compared to a lower-carb diet.

We've known for some time that people who eat breakfast often weigh less than people who skip it. One reason for this is that people who skip breakfast are actually making themselves extra hungry and so are probably going to eat more calories throughout the day. Breakfast can help to control hunger and give you lots of nutrients and energy to start your day.

Another reason behind the weight loss-breakfast connection is that breakfast jump-starts your metabolism. Think of your metabolism as a fire. Overnight, the fire dies back; breakfast is like the wood that gets the flames crackling again. If you don't start up your metabolism early in the day, you won't be burning all the calories that you could be.

While you needn't eat a 600-calorie breakfast every day, you should take away the message that it may still be the day's most important meal. Here are some tips on eating a healthy breakfast

• It should control cravings and keep you feeling fuller longer.
• Include some carbohydrates, protein, and healthy fats.
• If you eat a high-calorie breakfast, then keep your other meals lower in calories.
• Always try to serve breakfast to your kids — they'll concentrate better at school, have a healthier body weight, and get more needed vitamins and minerals

So breakfast is very important for studying!!!

I hope I will have the same breakfast as here...wow...where is it?:
She''s nice!!!!!That's VIETNAM!



Well who agree with me can comment on my blog!

P.S:More information about Vietnam:
This video included all of infos!

Business Idea:"Clocky" Evasive Alarm Clock!

Coming back to business Studies Post and again:EVALUATION!

The new business idea has been created which is very "Nasty".People who always over slept don't have to worry again.People who are over sleeping usually have the hardest time when they can't move their butts out of their beds and then continue sleeping...=)Therefore to solve this main problem,NANDA clock is in the market.

This is the high quality product with many details and instructions.First of all,the company's guarantee is high :a standard 90 day return warranty for product that is determined to be defective. The company will happily refund or replace your item at no additional charge.
Also their Clockies have a very loud alarm clock. The reading is 83 db at 1 meter and 100 db at 85 mm.But also this could be a problem as well.Imagine around you small kids or babies are sleeping and the alrm clock is too loud.It can woke all up and involve troubles.

The main USP of this product is it has wheels.It scurries around your room when the alarm rings so you ave to wake up and get out of bed,find him,turn the alarm off.Well the difficulty of this product is also because of wheels.If you put it in the high place,while it runs,it could fall down and easily be broken.Or as I said,there's no volume control which may wake up a whole family and also if it runs to small places such as under the bed,it will be hard to turn it off.

But the design is perfect and also people like their stuffs funny and cheeky.The design is very cute.And it has many colours for consumers' choices.

In conclusion:
*STRENTHS:

• USP is it has wheels,and it can run
• No more worries about oversleeping
• Beautiful design
• Small and easy to control

*WEAKNESSES:

• No volume control
• It can be broken if put it in the high place as it can run
• Takes time to find it
• Could be a little bit annoying =)))
  

Credit Crunch Review!

After reading the long paper about Credit Crunch I found it's very useful and improved my knowledge a lot about Credit Crunch.
Well before I just thought credit crunch is just a situation when there is a huge and fast economic growth so that consumer's wealth increased a lot.The most valuable wealth that they have is houses.So that they put high prices on their houses and so that,poeple that want to buy a house,they have to borrow money from the bank which is called mortgage.But then suddenly house prices went down rapidly and then the situation happens when consumers buy a house that is less wealthy than the mortgage than they buy.So that they can't pay off their mortgages and this leads to condumer's confidence decrease a lot and also it will be more difficult to borrow money form the bank .There fore,investment of businesses and firms go down a lot as well.This leads to economy to slow down and recession and so on.

But after reading the passage,I know more and detailed about this economic situation.Well ,in my opinion,the clearest and the easiest part to understand was an introduction part and a Section 1- Background part.I knew more detail about the mortgage and also the situation when the banks sell their mortgages and earn profit,which is called "securitization."That's why in terms of high economic growth it's so easy to borrow money.Just because,the banks can make profit easily so that they make securitization.

The most interesting part I found was the back ground of the Credit crunch which explains what makes credit crunch to explode and why it happened?And more difficult one was the implications of the credit crunch which I didn't read quite carefully.

In conclusion,I think that this passage was very useful and easy to understand as well.Also It explains clearly about Credit crunch (well,I think too clear) and I think all parts were right.

Ahhhh ye ye...Stupid me!I misses 2 big mistakes in the passage.........

Credit Crunch Revision Pack!

• INTRODUCTION:

What is credit crunch?Credit Crunch also known as a "liquidity crisis" or a "credit squeeze", the banks won't or can't lend. Investors can't or won't buy debts. Suddenly it's very difficult to borrow money. There is a lack of easy money. Consumers and businesses have less to spend. There could be serious ramifications for an economy.
A credit crunch generally involves a reduction in the availability of credit independent of a rise in official interest rates. In such situations, the relationship between credit availability and interest rates has implicitly changed, such that either credit becomes less available at any given official interest rate, or there ceases to be a clear relationship between interest rates and credit availability (i.e. credit rationing occurs).

This update comprises of three main sections.The first is concerned with the background to the credit crunch in order to give some historical context to what happening.The 2nd section will look at some of the implications of the credit crunch and how businesses arebeing affected.Final some curricular linked activities and concepts will be relater to the issue.

• SECTION 1:BACKGROUND:

Banks and other financial instituitions did a similar thing as David Bowie,he had all of the money up front rather than having to wait for it.Those people like him hoped that they would earn more in the long run rather than the money they paid for these bonds.

Mortgages are loans against the house,that is to say most poeple need to borrow money when they buy a house.Usually ,a person saves up a deposit and rest from a bank or other financial institution like a building society.Then they pay this off over a period of time,usually around 20 years.This means that the bank will be receiving money for a long while.There fore if they sell off these loans to someone else,they get their money back,amke some profit and can lend it again very quickly and make even more money though.This is called securitisation,which also means that the banks that buy the mortgages will earn good money over a period of time.

Well so that,especially in the USA,house prices rose rapidly as people found it easier to get a loan.However,the increase in money available in the US led to a large increase in loans to people who didn't fall into this traditional 'prime' category and the growth in "sub-prime".Because these poeple are at the higher risk of notpaying their mortgage back ,they are charged a higher interest rate ,which makes it more prfitable to lend to them.Finally,some banks lent money well in excess of the value of the property.

So this is teh summary of what happenned:

• Lots of lending available because of "securitization"
• European and Brittish banks buy a lot of the mortgages from American banks
• House prices increse rapidly
• Bank lending to riskier customers increases a lot and lending in general is at record levels
• The world economy is doing very well(Economic Growth)

But what went wrong???:

• House prices in the US started to fall
• BAnks who lent money started to lose money
• Banks in the UK & Europe who had purchased the securitised mortgages lost a lot of money
• People and businesses started to lose confidence so invest less,made people redundant which made the situation worse.

In the Uk the situation is already starting to spend less because of the interest rate rosed to keep down the inflation fears cause by an increase in the petrol,food and utility prices.

• SECTION 2:IMPLICATIONS OF THE CREDIT CRUNCH
  

This section will be sub-devided to deal with these separate issues:

1. The Financial Sector:

• Brittish based banks are in severe financial difficulties
• Brittish based banks are making record losses
• Some Brittish based banks have been nationalised or the government at least has a majority share in them.
• Consumers are worried about their bank deposits
• Businesses are finding it very difficult to borrow money on reasonable terms.
• The government have set up a scheme to try to aid small businesses obtaining finance.

2.The retail industry:

• Consumer spending is generally down and this has ;ed to some high profile businesses going bust such as Woolworths.
• Those businesses that are in a weak position before 2007 are unlikely to survive the Credit Crunch because they will find it difficult to obtain credit and demand will further fall.
• Customers are trading down,this will find it difficult to obtain credit and demand will further fall
• Price competition is becoming harder
• Product ranges and marketing strategies are changing
• There is a risk of a downward spiral of prices.
• Retailers are reducing costs by making redundancies,shutting branches and reducing expenditure where possible.
• Sales in 'big ticket' items are falling very fast.
• There are opportunities for some businesses,especially in discount goods and on-line retail.
• Businesses that supply the retail industry services such as marketing are suffering.

3.Manufaturing:

• MAnufacturing output is in fast decline
• This has impacted upon car manufacturers very badly
• In an attempt to reduce costs wages are being frozen and short term is being implemented
  
• Job uncertainty is having an interesting impact upon worker motivation
• Tension is increasing regarding industrial relations and the risk of industrial action is relatively high.
• Falling exchange rates should provide a stimulus for the manufacturing industry
• The stimulus is not happening,however ,because of the global nature of the crises and the increase in the cost of imported raw materials and components.

AND THIS IS AN EXTRA STUFF THAT I FOUND:
This shows what is happening to the UK house prices in terms of credit crunch.


The data used to create the graph above is publicly and freely available from the Nationwide Building Society. It's a graph that is very valuable to timing when I buy a property, and it will be to you once you have finished reading this.

Now that the UK government can no longer hide the fact that house prices are falling, lets see how we can use this to our advantage.

The Last Crash: 1989 - 1996
It took 7 years for the crash to bottom out (B) , wiping out 30% of the price of an average home in the uk. If anyone was convinced by the government to buy on the downslope (A) they risked massive falls in the value of their homes and also negative equity or even repossession! You should never buy on a downward slope as you simply don't know when you are going to hit the bottom.



This Crash: 2008 -
We have JUST started our decline this time around, the tipping point was 2008. Point (C) is the current point in our crash, the continuing black line is there for illustration as to what might happen next, based on the last crash. I am confident that we are going in to a dip, I just don't know how long or deep this crash is going to be this time around.
You can at least agree that if you buy now, you are staring in to a chasm with no idea how far you are going to fall.



When to buy:
The best time to buy is after the bottoms (B,D), but "what if you miss the bottom?" I hear you say. It does not matter! Even if you miss the bottom by 1 year, as long as you are buying on the UP slope you wont be a loser, all you have to do is monitor the data above and sit back and wait - my personal opinion is that you have at least 5 years - think of the deposit you could save!



Green shoots of recovery:
You should now understand why when the government talk about the green shoots of recovery it is a complete embarrassment. Why do the government want to trick you in to buying on to the down slope? They are not happy only with increasing your taxes to bail out the banks, they want you to also PERSONALLY sign up to massive amounts of mortgage debt to save the banks. Money , which could be better spent on your family.

We are only at point C - yet labour are actively telling people to buy before prices start going up again.



Well - now you know, the next time a politician on TV tells you to work as a mortgage slave for the rest of your life, you can tell them where to go - just keep tracking the above graph.

OH FINALLY,I FINISHED THIS TOPIC!!!!!
CONGRA TO LEX!!!!