Applying Marketing Concepts Within a Small Business - Free Essay Example

Sample details Pages: 8 Words: 2530 Downloads: 9 Date added: 2017/06/26 Category Business Essay Type Analytical essay Level High school Did you like this example?    Apply marketing concepts within a small business Outcome 1.1 Define the following objectives of marketing in terms of the organizational objectives as identified in your marketing plan. A/ Sell products/ services Small business is the most important sale of your products or services and (potential) customers a different (special treatments, the best deals) offering. If your priority is to get customers to your business to produce. B/ Generate new customers Don’t waste time! Our writers will create an original "Applying Marketing Concepts Within a Small Business" essay for you Create order It is like bringing something new to the market is defined as a business objective is to bring in new customers, which is still there. This directly affects the business for sale. Samsungs (eg, Apple, Samsung and Apple, which offers new functionality in their phones like Samsung, Apple customers they have demand for it. C/ Develop and maintain customer loyalty the needs of customers through the use of the dependence of Customer knowledge , communication, coordination , and in anticipation We need to develop customer loyalty : Customer No Coordinating the customer experience online and offline The opportunities anticipate -when I see My customers time , money , and ultimately save the hassle , they are in favor of returning for repeat business and loyalty , turn to a trusted resource for my company .(research taken) . D/ Maintain image Image management company will always have to work hard to maintain that level so that the image is a false picture of the companys lead product for some time that it is done. For example. Nike Jordan shoes are the best states to maintain eg.Michal showing a picture of the hero, a lot of customers go to the store and buy shoes because their leader said. E/ Provide information It is one of the most important thing in your marketing plan Providing information to achieve your sales and your customers as well as customers move We need to bring all the information about our business and increase sales Today we have newspapers , magazines, TV , radio and social websites to use a large variety of types of information, and provide a number of options . 1.2 Explain the implication of the following marketing concepts to business operation as identified in your business plan. A/ Needs we need to understand the requirement to the business. It can be different needs in different places . We will not be successful with selling energy drinks eg. à ¢Ã¢â€š ¬Ã…“Và ¢Ã¢â€š ¬Ã‚ in places where people do not have enough water. They need to satisfy basic needs firs. We do not need to have adds for selling petrol because petrol is absolute need used everywhere and will sell anytime. B/ Demands Demands are goods customers want to buy once their needs are satisfied. Demands are goods or services in the business customers want to buy at the market for some price. Demands can be different if there is decrease of their salary. They will not have enough money to buy goods. On the other hand by increase of their salary, they will have more money to spend and buy more goods for the same price. C/ Market Market is my business place where the business can be conducted, where business can reach to its customers and buy a product. It is place with different rules, legislation for each country. D/ Marketing mix Using mix of advertising , personal selling, sales promotion, public relations, direct marketing sometimes also corporate image and sponsorship to increase selling products at the market, purposed by the professionals E/ Promotion It is defined as a support of product to reach aim and increase sale in the business Eg. Adds, posters, mails, TV, online- this is the most popular and very easy to promote any products F/ Public relation Can be defined as a relationship between public and company, organization. Eg. St John à ¢Ã¢â€š ¬Ã¢â‚¬Å" first aid without any cost, they are sponsored by ABM bank, and people might swap to this bank to use their products gt;gt;gt; looks like a strategic communication process which builds mutually beneficial relationship between public and organization (citation used from Wikipedia , written in New York Times in 2012 ) G/ Service Are offered to customers and consumers to achieve their needs. The result of good service is nothing tangible but just useful effect. H/ Advertising Is the most effective way to promote products. If add is good product can be sold better. It is defined as a paid or unpaid publicity of goods, treatments, ideas to increase selling product 1.3 Using the following marketing media compare their advantages and disadvantages, in a marketing products/service of business operation as identified in your business plan A/ Radio + one of the cheapest way to advertise can reach the same interested listeners (similar age, life style) customers cannot see the products or goods sometimes listeners do not pay attention to listening and can catch just a piece of information cannot go back to that add they had just listened B/ Television + the fastest marketing combining auditory and visual aids what bring more attention to customer creativity of TV high expenses to build add and to pay it to run in TV short time to address customer (sometimes 30s add is not long enough) annoying adds every single time when is something interesting gt;gt;gt; you switch to another program C/ Print media advertisements + you can target customers everywhere you can present add on public place with this media we can not reach correct customers apparently you need more advance planning to print the media D/ Print media editorials + print demands reading the full attention of the reader -less distraction when reading and readers can more focus on the editorial and advertising content easily to put down and picked up sticks around household or workplace and read again and again by others that come across it (information used from research webpage www.printpower.eu) -electronic media brakes print media in lightning speed -the shelf life of particular print media is limited it is must to plan months in advance to advertise in print media it does not offer you flexibility when we are faced with a tight deadline (research from www.buzzle.com) E/ Brochures + you are flexible to produce your ideas and design it to attract customers -affectivity of the time we can use to produce brochures -high cost to print any materials -most customers are unable to see the products low on read ers interest F/ Telemarketing +-better ability to explain product to customer -every times you get something for free -you do not know if it works really or not (for gym equipment they are given nice formed body people, for cleaning at home just arranged some mess on the floor not real mess) -companies are using your contact details to sell another products afterwards G/ Public relation +-we can appeal to large audience (if you print your add in newspaper or magazine million of customers can see the information about the business and understand it) -you can control expenses -very difficult discipline to understand conduct successfully it is unable to predict any response from public 1.4 Identify the three (3) types of products and/services for target audience of business operation as identified in your business plan. The following products/services in my business plan are: Coffee service Healthy snacks/Sandwiches Recycling 1.5 Explain the following marketing mix s identified in your business plan Will offer great tasting coffee made from home burned beans , served in recycled cup with nice logos of my company to make feel better customers during their enjoying coffee cup. They can also use very friendly and top furniture environmental, nice music , warm , confortable seats and lots more. Prices will be in the range from 2.50 up to 6.50 depends on customers needs. Basics coffees as short/long black, flat white, latte, cappuccino, mocchaccino, mocchiato start as low prices. I will promote my service in advertisements like printing media, social media, brochures to offer at the beginning piece of any cake to take away or to have there. I will distribution my business for every day need as a coffee to get up from dreams have a snack, and for those people who wants to go for different type of life as better catering, will make healthy sandwiches with vegetable, dairy free/vegan /vegetarian salads . Outcome2 Based in the marketing plan that you have developed do the following: 2.1 Identify the sources of market information about similar product and service. To get market information about similar product and service in this field of CafÃÆ' © business I based on the websites and interview with several owners, their personal experience and knowledge. You cannot by studying get everything about having CafÃÆ' © business but more than this is have an opinion from other entrepreneurs , learn from their mistakes and avoid them as well and with this you can save some your time to improve your ideas about your business. 2.2 Identify the provision for competition in offering services, prices and promotion of product and/or services The provision for competition on my product Mobile CafÃÆ' © needs to start with lower prices to attract customers. To offer nice creamy, aromatic and smooth coffees, any other hot and cold drinks and variety of healthy sn ack and sandwiches. Promote all available products on my websites with entered prices the lower than current prices in similar services the better to attract customer to prefer my product. I will be offering recycling coffee cups and in this time more people think ecologically and could help to improve and grow my business. I would like to recycle plastic bottles as well to make chairs for my CafÃÆ' © using and in the future to envelop more public sitting places. 2.3 Assess the impact on marketing decision of the following external factors to consumer behavior: A/ Cultural Cultural factor could help to get more customers because cultural factors are the one people learn from their born. The most important institutions around people are family, friends, work and more others. Each groups of customers have different demand needs and I have to offer them what they need. B/ Social People certain social groups having similar ideas, hobbies and behaviors. Similar education, social life and more than this. All those customers having same habit and that is having morning or lunch time coffee. They do not have enough time and for this is here coffee to take away in recycled cup and to help them from busy life avoid unhealthy fried fast food I will offer healthy snacks and sandwiches. C/ EconomicsThe economic situation in New Zealand is in its way to the development the customers and more likely to spend their earnings into the business. the marketing strategy is to promote the sale but economic will change without our agreement . We need to get maximum results. D/ RegulatoryThis factor is the one which can affect our marketing decision. In this case we have to maintain strict guidelines in not restricting the customers to those products they want. Best still keeping in their mind that demand of this product needs has to be marketed and buying by them. E/ TechnologicalThe technological factors can affect the customers . The business needs has to b e careful while promoting the product in the technological platform as with the growing trend of believing of the public is getting to affect the business. D/ DemographicBy demographic factor we can target the customers to be considers using the marketing campaign than customers according to their needs. G/ CompetitiveThis factor affects consumer behaviors in way that the consumers demands in completive rates and with the view of entering the other business making the same product the customers are going to try the new products on the market. This is a chain with upcoming businesses with the same products what makes big competition and hard to stabile our customers. 2.4 Assess the operationà ¢Ã¢â€š ¬Ã¢â€ž ¢s competitive advantage and disadvantages of marketing analysis in business operation +-planners are allow to maintain and develop the missing goods in the market -planning tools are here to help us find out the difference between the products in the market -to hel p to maintain the product quality -to improve company product in case the product is negative from customer feedback company or becoming entrepreneurs have to valorize their products and services, competitive environment, market prices, consumer behaviors and strategy of communication, if they will not do it can be distracted for them and can lose a lot it is really powerful tool for all professionals what needs numbers and values and then we can plan, and from those numbers we can valorize rivals and take their failure in our success, if not it can be fatal for our organization 2.5 Identify the changes in business process and service delivery you feel would enhance the marketing of the operation We need to react on customer needs , they ask every day and if we will not do anything for it customer have so many options to go to other organizations they offer what they want and we lose our customer and with them our incomes. Outcome 3 Below is a scenario where McDo nald conducted a survey on customerà ¢Ã¢â€š ¬Ã¢â€ž ¢s history. Read the scenario and do the following activities: 3.1 Using the customerà ¢Ã¢â€š ¬Ã¢â€ž ¢s history and organizational record present in Figure 1, 2 and 3: A/ define or identify customers perceived needs for McDonald`s products: Big Mac, Quarter pounder, Double cheese, Mac Chicken and Hamburger Customers go to fast food as McDonalds to get their food really fast and get some good quality comparative with price. In most chosen products we can see what people like more, if piece of beef , cheese, chicken in their burger. If I were them I would decide between burger with chicken or beef and if you can see beef looks really yummy and can feel you up. Regular or potential customers look also on the design, good price they can get and variation they can chose. Even heaps of choices from regular menu they like to try and buy Quarter pounder B/ Compare customersà ¢Ã¢â€š ¬Ã¢â€ž ¢ actual needs to perceived needs Customers first can see all products and the walls and even they knew what they want to have before they come to McDonalds. Those walls nicely arranged with lots of burgers can change customersà ¢Ã¢â€š ¬Ã¢â€ž ¢ needs and in that case customers make decision due perceived needs. C/ Identify any customers needs not being addressed Every customer has their choice to get what they want. McDonalds has wide range of products and if customers come to any branch there is something what is addressed to them. 3.2 Explain whether the objectives of conducting the survey achieved the desired objectives. This survey does not show us if there were achieved the desired objectives. It shows what people like to get , what they prefer if it comes something new and why they made their decision, that they chose their products because of good price, nice taste and range of variety. It does not show what rather customers would like to have, if they are happy with offered products or no t.

Monopoly and American Dream - 1039 Words

Monopoly: Reinforcement of the American Dream Many board games are used to bring in family, friends, and even strangers to come together and socialize. What many people do not know is that sometimes these games teaches our society the values, skills, and social statuses in each individual’s life. Video games such as Medal of Honor or Call of Duty teach young teens (even children), the American pride of being a soldier. Board games such as Life teaches individuals about life in general or what is expected by society when children move on to be adults (go to college, have a job, have kids, get married). I’ve decided to examine the Monopoly board game, where it teaches a variety of values, skills, and social inequalities. Some good†¦show more content†¦If the game were to be played different, for example some players start of wealthy while other players start off poor, the real life application may be accurate. A professor from Pennsylvania State University tested 50 students with the poor and rich elements. As suspected, the rich gets richer and the poor gets poorer. According to the article Classroom Monopoly Game Shows Rich Often Get Richer, 20% of the people control 40% of the wealth and 20% splits 1%. The remainder divides the middle 59% in the United States. It’s just really interesting that how easy it is for players to adjust to the power of money and how accurate it is sometimes. For example, it was very interesting that a student stole $100 from a neighbor because the student was poor. That’s how it is in some places; people have no other choice but to steal for survival. Monopoly does have many useful skills such as accounting and money investments. However, the board game does reinforce American values, it incorporates the lemets of the American Dream and the corporate culture as well. Even if the game is played differently, these values remain the same and some players even become greedy and heartless (do anything to win, even if it means hurting friends or family). It’s very interesting, it taught me new ideas, and made me think of games that they are not always as it seems. Works Cited 1. Classroom monopoly game shows richShow MoreRelatedCase Analysis : The House Of Blues 1502 Words   |  7 Pagespursued the merger the quick answer is being a monopoly is better for the firm. Monopoly is defined by the Mankiw textbook as, â€Å"a firm that is the sole seller of a product without close substitutes.† All firms want to be the sole provider of their good or service because than they can charge whatever price they want and consumers are forced to pay it. 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Assess the Intent and Impact of Publicity-Oriented Legal...

HS542ON Section A Nov 2011 Health Rights and Responsibilities Professor A. Dennis Research Paper Assess the intent and impact of publicity-oriented legal challenges to physician-assisted suicide 12/11/2011 Background A retired social worker, Smith, was diagnosed with cancer at the age of 86. He said that he has no regrets but worries about the pain. Death itself is not a fearful consideration for me, he said. But the process of dying could be if it were extremely uncomfortable. He is in no haste to die but expects that he will feel severe pain when the cancer reaches its final phases and when it happens; he would want his doctor to be able to prescribe him with a toxic dose of medication that he can use to end his life†¦show more content†¦Kevorkian administered a lethal injection. Dr. Kevorkian was tried for first degree murder in Oakland County, Michigan as the result of the TV show. 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Negro Spirituals - 1854 Words

Humans from the coast of West Africa arrived to the New World as slaves. Stripped of everything familiar, they brought with them their traditional ways of using music to record historic events, expressions, and to accompany rituals. While toiling in the tobacco fields of Virginia, slaves were not permitted to speak to each other. So, they resorted to their African tradition. They sang! Today, these lyrics have crossed barriers and are sung in many churches across America as spirituals. However, such songs as Wade in the Water, Swing Low, Sweet Chariot, and Follow the Drinking Gourd, were once used as an important tool of survival by the slaves of the antebellum era. The content of many Negro spirituals consisted of a religious†¦show more content†¦Jordan or River Jordan is often referred to in Negro Spirituals. It is the code term for the body of water that slaves crossed to freedom; the Ohio River separated the North from the South. These are only a few terms to look for when decoding Negro spirituals (Thomas). A well- known spiritual that has found its way into the hymn books of Americas religious institution is titled Wade in the Water. This song was created by the slaves of the south. It was used as a very important tool to assist Harriet Tubman. Tubman was a conductor of the Underground Railroad. Born into slavery, she was able to escape her life of bondage and successfully escorted over 300 slaves to freedom during a ten-year span (Public Broadcasting System). The lyrics of this sacred song alerted runaways that slave catchers were nearby, and advised the use of waterways to avoid being detected by scent-sniffing dogs. It also warned the runaway of the freezing temperature of the Ohio River (Songs). Slave owners kept their slave ignorant of geographic routes to limit escapes. But slaves knew the North states were where freedom lies. Abolitionist taught slaves to escape North by using the North Star as a navigation aid. It is the star that the earth axis points toward in the N orthern sky. Slaves were able to locate Polaris by locating a constellation of stars that was in the shape of a big dipper. The North Star was very significant in the lives ofShow MoreRelatedNegro Spirituals1624 Words   |  7 PagesNegro Spirituals Spirituals, a religious folk song of American origin, particularly associated with African-American Protestants of the southern United States. The African-American spiritual, characterized by syncopation, polyrhythmic structure, and the pentatonic scale of five whole tones, is, above all, a deeply emotional song. Spirituals are really the most characteristic product of the race genius as yet in America. 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However, church members often do not make the time to reflect on the heritage of a hymn or song to realize the meaning that the particular piece has carried with it through the decades, even centuries. With this in mind, I am going to look at the history ofRead MoreKellie P. Tindley. Professor Tavel. March 07, 2017. English1492 Words   |  6 PagesThose Spiritual Secrets â€Å"My music is not for everyone. It’s only for the strong-willed, the (street) soldiers music. It’s not like party music-I mean, you could gig to it, but it’s spiritual. My music is spiritual. It’s like Negro spirituals, except for the fact that I’m saying ‘We shall overcome.’ I’m saying that we are overcome. -Tupac Shakur- As of 2017 we are 152 years free of slavery in America. But, that doesn’t mean that mentally we as a people aren’t still singing through spirituals. ThereRead MoreDreams As A Mode Of Freedom1611 Words   |  7 Pagesfar back as the Negro Spirituals during the time of slavery. While the motif of dreams is used far and wide in African American literature, it is in no way a static matter, but rather a dynamic entity that writers internalize and redefine to express the sentiments of their time. The meaning of the dream progressed accordingly to racial tensions in the country and the freedom African Americans were allotted to express themselves politically and creatively. Starting with Negro Spirituals, hopes and dreamsRead MoreDouble Consciousness1491 Words   |  6 Pageswhites. These expressions originated from an Atlantic Monthly article by W. E. B. Du Bois called â€Å"Strivings of the Negro People,† which was later republished and amended under the title †Å"Of Our Spiritual Strivings† in his famous 1903 collection of essays The Souls of Black Folk. It is interesting to note some of the ways Du Bois was ahead of his time. 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Positive Ranking of Cannabis - 1299 Words

Because of the copious amount of medical data on the benefits of Cannabis, its low addiction rate and its lack of negative side effects make Cannabis fit the schedule 2 substance instead of the schedule 1 ranking.The earliest uses for cannabis date back to ancient China. It was used for medical remedies. Currently there is scientific evidence to back up the claim that it can help fight illness, including cancer. This has been hypothesized by many in the scientific community. But not until recently have studies been completed ranging from large-scale case studies to testing on animals. The evidence is becoming increasingly common that cannabis reduces tumors in animals as well as in humans. A study done by Harvard Medical shows that it reduced the tumors. Cumulatively, these studies indicate that THC has anti-tumorigenic and anti-metastatic effects against lung cancer. This was an experiment that used cannabis to treat cancer in mice. The results were that there was a significant redu ction of lung cancer in mice. Harvard Medical concluded that the two anti-tumor properties of cannabis, anti-proliferative and anti-androgenic, have beneficial effects in the cure of lung cancer. When used in treatment, the substance, THC, does not compromise human cells. THC (5mg/kg body wt.) was administered once daily through intraperitoneal injections for 21 days. The mice were analyzed for tumor growth and lung metastasis. A significant reduction (approximately 50%) in tumor weight andShow MoreRelatedShould Marijuana Be Legal? Cannabis?1724 Words   |  7 Pages Many people say that medical cannabis heals diseases and helps symptoms, and other illnesses such as, sleep disorders, psychological disorders, Alzheimer s, and many different issues that affect individuals and their families every day. 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Challenges in Employee Recruitment and Retention

Question: Discuss about the Challenges in Employee Recruitment and Retention. Answer: Introduction Currently, the most challenging activity is having employee recruitment within a given organizational structure. Some challenges involve the unavailability of well-trained personnel and the upcoming rules and regulation that govern the labor force bodies. Some challenges also result from rules and regulation that are governed by the foreign human labor laws that have hindered external/foreign recruitment. Lack of qualified personnel has been the major reason for the poor process of employee recruitments and retention. With increased rates of globalization and technology, increased level of organizational competition, the struggle for better employees has been the challenges. Most competitive organization have always provided high salary rates for the most qualified employees, hence, becoming a challenge to most of the small organization who may wish to acquire the same eligible employees (Nordmeyer 2016). The other challenge that has influenced the process of recruitment is the nature and the manner of recruitment. The external and internal quality of recruitment has affected most of the organization. Regardless of the most challenges that are accompanied by the external hiring and recruitment, most organization has opted for the external position considering the fewer resistance actions from the employees. Of course, Internal recruitment as most advantages such as saving the costs of orientation and training; but it has limited most of the organizations development due to lack of new minds and personnel to provide a different organization aid for either different innovation or development (HUNT 2014, p. 42). Thus, the paper is aimed at highlighting the current challenges experienced by originations and human resource managements in the process of recruiting and retaining the organization new and current employees. Background and Problem Definition Within the human resource department, the process of recruitment and retention of employees is a complex process that must be handled in a professional and expertise manner. This is based on the adherence of the involved laws of the human labor force, and also having the required rules and regulation and understanding both the demands of the organization and those of the employees. Recruitment requires some process that will enable the organizations have the qualified personnel while retaining the current employee requires. In achieving this, key steps of recruitment must be followed, that involves; identifying vacancy and evaluating the vacancy needs, developing position description, developing recruitment plan. Selection of the search committee, post position and implementation of the recruitment plan review applicants and developing short lists, conducting interviews, selection hiring and finalizing the recruitment (Franklin 2012, p. 65). Most of the organizations and most of the human resource professional use the steps in achieving the recruitment process In retaining the current employees, the major issues of salary increments s, promotions and training are the major section that is encouraged by most organizations. Problem Definition Issues of salaries, promotion, and insecurity within workplaces form the major reasons why most employees will opt to shift from one organization or a given job positions to another. Standards of living are changing, hence, organizations need to focus on also changing their nature of employee handling. Increased level of technologies and globalization has also changed different types of learning which have provided a different level of candidates within the job market. With increase technology, organization requires a better-equipped employee who can use the available technologies in problem solving. Hence, the process of recruitment must meet the fundamental requirements of the organization. Educational programs have changed hence providing different qualification candidates in the job market. Achieving the required candidates has involved some activities that have turned to be tedious of a great challenge (Arthur 2011). For instance, external recruitment has been a challenge being a reason why most of the organizations have opted for headhunt candidate identification. Aims and Objectives of the study The study aims at identifying the challenges affecting the human resource sector based on the process of recruitment and employee retention. This research will be effectively to organization in identifying the current trends within the employee sector, which will help them in enhancing the nature of employee recruitment. This will help the organization in achieving the better parts of qualified candidates that will meet the organizations demands. The researchs findings as well are aimed at providing a clue to the organizations on the possible ways through which they can use the available resources in retaining their employees. Employee relation is important as it helps in reducing the costs of employee recruitment, and training and development of the new employees. Ultimately, the primary objectives of the research are based on: Identifying the various ways in organization is failing in their recruitment process, i.e. the issues experienced within the process of recruitment. The challenges experienced by the organizations in maintaining their current employees. The costs and the benefits of having a better process of recruitment. Possible ways of having better recruitment strategies i.e. how to achieve the best candidates from a group of individuals. General impacts of the recruitment challenges and employee retention to the organization. Literature Review According to Rehman (2012), the recruitment industry has seen significant changes in the last years as the economy and technological advances have altered the way many organizations hire. Of course, there have been a number challenges to be overcome, but some issues have been experienced within the recruitment process. Among the significant challenges in the recruitment, the process involves; finding the right personnel, this is a major challenge within the recruitment agencies and human resource professionals (Landers Schmidt 2016). On the other hand, state four major recruiting challenges that organizations and human resource managers faced as per the 2016 survey. First, he states of the growing levels of employee turnover, from his research on the level of employee turnover, he found out that as the country has or as the globes economy endures to grow and the job market rebounds, some employees will decide to discover diverse job opportunities. Second, difficulties in finding qua lified applicants with the skills to succeed. This is the major current challenge within most of the organizations and the recruitment agencies. In most cases, although most of the organizations have candidates for open positions, the involved individuals often lack the required skills and competencies needed to perform the job responsibility (Provencher et al. 2014). As per the 2015 survey conducted by the human resource agencies, 3 of the 5 top reason why it is hard to fill jobs related top inadequate skills. Human resource professionals often find that applicants lack the required technical competencies; most of the individuals have irrelevant experiences while others also lack the soft skills that are the major credentials to succeed in the workplace. The third is the increased demand for talent for certain job functions. According to the 2016 survey, most of the organizations convinced that the most difficult openings to fill were the skilled sales representatives, trade workers, management and executives, accounting and finance staff, drivers, teachers, and engineers (Smith 2011). In most occasions, demographic shifts are driving demand. Fourth, the higher wages in certain markets are driving up the recruitment costs. On the other hand, under employee retention challenges, in the present scenario, this is the major challenges experienced by most organizations. Retaining qualified and talented personnel has been an issue but most organizations can effectively achieve this within no time largely but cannot put a complete full stop. According to MANDHANYA (2015), the major challenges influencing organizations involves; momentary dissatisfaction lack of dearth opportunities, unqualified interviews, and boredom experienced by most employees within a short span of time and unrealistic expectations from a job that leads to the employee have the tendency of looking for a change . Research methodology and Design The section provides the operational researchs framework that the study will use in coming up with the effect and reliable discussions and analysis based on the research. This methodology will be based on sampling parts of the organizations reviews on the challenges of recruitment and employee retention. As well, another method such as magazine reviews website information. However, the whole research will be manipulated by positivism philosophy rationale. In addition, in achieving more facts about the research, the use of qualitative scientism method will be effective... on the other; both qualitative and quantitative techniques will be used in scrutinizing the online survey for data presentation and interpretations (Kuada 2012). The mostly used techniques relied on secondary data with an allowance of 5% deviation error from the scientists and scholars data. In respect to the challenges experienced by employers, on process of recruitment and employee selection the study would heavily rely of organizational workplace such as departmental managers, teamwork, and financial issues. The objective would be based on establishing the level of employee satisfaction and dissatisfaction and the process involved in recruitment by human resource personnel. Research Schedule Outline Number Task Name Duration Days Start Finish Predecessors 0 Research Project 30 Mon 20/3/2017 20/04/17 1 Research Proposal 13 Mon 20/03/2017 Mon 3/04/17 1.1 Choosing a topic for research 8 Tue 21/03/17 Wed 29/03/17 1.2 Background Study of the Research 7 Wed 22/03/17 Wed 29/03/17 2 1.3 Development of the Research Question 5 wed 22/03/17 Mon 27/03/17 3 1.4 Establishment of the Conceptual Framework 1 Thursday 23/03/2017 Fri 24/03/17 4 1.5 Research Question 0 Fri 24/03/17 Fri 24/03/17 5 1.6 Research Proposal Submission 0 Wed 1/04/17 Wed 1/04/17 6 2 Review of the Literature and Collection of the Data 24 Thu 2/04/17 Wed 26/04/17 2.1 Reviewing the available literature 15 Thu 2/04/17 Mon 17/04/17 7 2.2 Selecting target population for collecting the data 8 Thu 2/04/17 Mon 10/04/17 9 2.3 Data Collection 8 Mon 06/04/2017 Fri 14/04/17 10 2.4 Analysing the gathered data 7 Fri 10/04/17 Wed 19/04/17 11 2.5 Draft Research paper submission 0 Wed 8/04/2017 Wed 8/04/2017 12 3 Final Project Paper Submission 7 Thu 17/04/17 Mon 24/04/17 3.1 Critical Analysis of the findings 2 Thu 23/04/17 Tue 25/04/17 13 3.2 Concluding the study findings 2 Tue 2/04/17 Tue 4/04/17 15 3.3 Recommendations 1 Fri 30/10/17 Mon 3/04/17 16 3.4 Submitting the Final Project Report 0 Fri 30/04/17 Fri 30/04/17 17 References Arthur, D. (2011). The Employee Recruitment and Retention Handbook. AMACOM Div: American Mgmt Assn. Franklin, C. (2012). 'Technology Impacts in Organizational Recruitment and Retention.', Business Law Journal., vol 1, p 62-69. HUNT, E 2014, 'An HR conundrum: Talent Attraction and Retention Abroad. ', Baylor Business Review, (32)1, 238-43. Kuada, L. (2012). Research Methodology: A Project Guide for University Students. London: Samfundslitteratur Landers, RN Schmidt, GB. (2016). Social Media in Employee Selection and Recruitment: Theory, Practice, and Current Challenges. London: Springer. Mandhanya, Y 2015, 'A Study Of Impact Of Working Environment On Retention Of Employees (With special reference to Automobile sector). ', Global Management Review, (9), 4, 116-128. Nordmeyer, B. (2016). Challenges of Employee Retention. Retrieved from 23 https://work.chron.com/challenges-employee-retention-2428.html" https://work.chron.com/challenges-employee-retention-2428.html . Provencher, V, Mortenson, WB, Tanguay-Garneau, L, Belanger, K Dagenais, M. (2014). 'Challenges and strategies pertaining to recruitment and retention of frail elderly in research studies: A systematic review', Archives of Gerontology and Geriatrics, (59)4, 18-23 Rehman, S. (2012). 'A Study of Public Sector Organizations with Respect to Recruitment, Job Satisfaction and Retention, Global Business Management Research., (4)1, 76-88. Smith, NC . (2011). Global Challenges in Responsible Business. Nersey: Cambridge University Press. Transit Cooperative Research Program (2012). Managing Transit's Workforce in the New Millennium, Transportation Research Board.

Australian Accounting Standards Board(AASB)

Question: Discuss about the Australian Accounting Standards Board(AASB). Answer: Introduction The current study presents a detailed illustration of different systems and mechanisms of accounting that can assist in monitoring, controlling as well as directing business operations with special indication to different operational functions of Qantas Airways. Qantas Airways is the largest airline in Australia from the perspective of size of the fleet, different international flights and worldwide destinations (Qantas.com.au 2016). Qantas Airways possess the share of around 65% of the domestic market in Australia and carries just about 14.9% of overall passengers travelling both to and from Australia. However, the size of the fleet of the company Qantas Airways is recorded to be around 131 that carries out operations throughout 85 destinations. (Qantas.com.au 2016). In addition, the current study presents a critical evaluation of different concepts of measurement that can points out towards the need for reviewing the compliance towards different rules for measurement, assessment of the General Purpose Financial Reports prepared and presented for different users of financial information of Qantas Airways (Yong et al., 2016). Furthermore, the current study also detects diverse issues associated to the process of measurement. In addition to this, the present report also expounds in depth the concepts of prudence and compliance to the conceptual configuration for financial reporting (Qantas.com.au 2016). Evaluation of the General Purpose Financial Reports: Different concepts of Measurement: Conceptual Framework The conceptual framework essentially indicates the intentions of as well as the principles of the general purpose financial reporting. Again, in other words, the conceptual structure is an effectual tool that can assist the board of the company in the process of development of the financial standards founded on different notions. In addition to this, the conceptual structure also helps preparers of specific general-purpose financial reports to build up effectual and simultaneously reliable strategies of accounting while the financial standard can authorize the selection of the particular accounting plan (Williams, 2016). Besides this, the conceptual structure also supports the course of comprehending with interpreting the accounting standards. Additionally, the intent and function of the conceptual structure is also to enhance the overall structure of financial coverage by offering an absolute, restructured and all together comprehensible set of principles (Aasb.gov.au. 2016). The financial statements of the Qantas Airways, complying with the Conceptual Framework AASB helps in managing different intentions of the financial declarations, diverse qualitative uniqueness that in turn establishes the usefulness of the financial statements (Uyar Gungormus, 2016). However, there are diverse components that can shape the entire financial declarations. The essential elements of the financial declaration comprise of the current and non-current assets, current and non-current liabilities as well as shareholders equity. The different items of the financial reports elucidate the financial situation of the corporation. Again, the structure also helps in the process of evaluation of the financial health of the corporation from the perspective of income, operating expenses and the profit (Aasb.gov.au. 2016). Besides this, the conceptual framework also explains in detail different criterion and the decisive factors for recognition and acknowledgment of diverse items in th e financial declarations of the corporation. Problems of Measurement in the context of the AASB Standard and Framework The accounting standard AASB 13 Fair Value Measurement refers to the process of establishment of a single as well as principles-based structure for measurement at fair value at the time there is a need for the Australian Accounting Standard. Again, the AASB 13 normally does not transform at the time when a particular business entity need to make use of the fair value. Therefore, the AASB 13 comprises of different notions regarding the best exercise, assessment principle and has need of application of a fair value (Uno Bartelmus, 2013). The income proceeds of the company Qantas Airways is recorded to be $15816 million during 2015 where the net income proceeds for the passenger adds $13667 million along with the net freight revenue that provides $936 million (Qantas.com.au 2016). Again, the Board of the corporation Qantas pursues a charter and is liable for the establishment and evaluation of the tactical direction and supervision of the overall process of execution of the strategy of Qantas Airways. In addition to this, the CEO of the business is accountable for day to day administration of the operations of the entire Qantas group. Again, the company secretary is liable directly to the Board as well as the Chairperson on different affairs associated to the appropriate functioning of the company. The board of the corporation Qantas Airways is appropriately structured and separated into four committees (Schrand et al., 2016). The committee includes the (Audit committee, Nominations committee, Remuneration Committee a nd the Safety, Environment, Environment and security committee) to augment the shareholders value. Over and above this, the Board of the company also complies with the Groups Continuous Disclosure Policy that calls for the need of preparation and presentation of timely and all together balanced disclosures that can ensure orderly trading of the issued shares of the corporation in a well informed market. Again, Qantas Airways also has a Shareholder Communication Policy that successfully promotes two different effectual ways of communication with the relevant shareholders of the corporation. The board of directors of the company is responsible for the presentation of the remuneration report that in turn complies with the principles conditioned under Section 30A of the Corporation Act 2001. In addition to this, the review of the remuneration report replicates the fact that the short-term incentive plan can be regarded as the Annual at risk incentive plan for diverse members of the work force of the Qantas Airways. The Board of the corporation Qantas Airways also assesses the performance of all the members of staff against the factors slated in the scorecard measured at approximately (140%). However, the long-term incentive plan is the policy of the incentive payments to the executives that are essentially assessed based on the three-year performance plan of the company. Thus, the strong financial condition of the corporation Qantas Airways also aided the management of the company to handle the downturn and attain good financial even for the period of the period of the Global Financial Crisis (Schipper et al., 2016). Assessment of the measurement of items in the financial reports of Qantas Airways The assessment of the financial reports includes evaluation of the consolidated financial statements of the Qantas Airways that are in essence the general-purpose financial reports. The corporation Qantas Airways prepares the general purpose financial reports in compliance to standards specified in the Australian Accounting Standards Board (AASB) along with the Corporation Act. Besides this, the corporation also prepares and presents the financial statements in line with the International Accounting Standards Board as well as the International Financial Reporting Standards (Ryan et al., 2014). Assets: According to the financial declarations registered for the period of the year 2015, the total assets of the corporation are recorded to be $17530 million. Again, the assets possessed by the company are essentially expressed in terms of the Australian Dollars that are essentially the operational currency of the particular firm. However, the process of evaluation of assets stated in the financial statements reveal the fact that the assets can be categorized as the as held for sale that are essentially measured at lower value of the identified cost compared to the fair value after the subtraction of the costs incurred for sales. Nevertheless, the net defined asset of the company Qantas Airways is recorded at the fair value of diverse plan assets after subtraction of the current value of the definite benefit obligation (Richard David, 2016). Liabilities: As recorded in the financial statement of the corporation Qantas Airways, the overall liabilities of the corporation Qantas Airways stands at $14083 million during the period 2015. Nevertheless, the balance sheet of the company records both the current as well as different non-current interest-bearing liabilities that can be utilized for financing the functions of the business of Qantas Airways. As per the annual financial report of the company Qantas Airways, the item of liability in the balance sheet of the company is recorded based on the historical cost and valued at the operational currency that happens to be the Australian Dollar. The net defined liability of the company is calculated at the fair value of different plan liabilities after subtraction of the present value of the defined advantage requirements (Rankin et al., 2012). Equity: A study of the balance sheet of the corporation Qantas Airways replicates the fact that the equity of the shareholders of the company stands at $344 million during the year 2015. As mentioned in the annual declaration of the firm, the derivatives expressed at the fair value by means of the profit as well as loss is calculated at the fair value (Rahman, 2013). Therefore, the company uses different model on accounting the derivatives that calls for the need of the fair value measurement. Inventory: The financial position and the degree of efficiency of the operations of the company can be analyzed from the evaluation of the level of inventory of the firm. The inventory of the company Qantas Airways augmented and rose to $322 million during 2015 from the recorded figure of $317 in the year ago period. The reason behind the augmentation of the inventory is primarily owing to the increase in the engineering expendables; shrink in different consumable stores and the reduction of the work in progress. However, the lack of potential of the firm to manage the inventory of the Qantas Airways might perhaps weaken the competitive position of the business (Qantas.com.au 2016).Accounts receivable, provision for bad debt and doubtful debt: As mentioned in the annual consolidated financial declarations of the firm Qantas Airways, the accounts receivables of the company are registered to be $959 million in the year 2015. The annual declarations for the company reveal the fact that the current receivables of the company Qantas Airways declined from $1196 million to $959 million during the period 2015. Again, the numeral for the non-current receivables in the balance sheet also reflects a decrease from the $158 million during 2014 to $134 million in the year ago period (Myers, 2016). Again, the decline in the overall accounts receivables can direct towards the decrease in both the trade debtors as well as the sundry debtors. Again, the company essentially recognizes the trade receivables at the fair value and are enumerates the same at amortized cost using the interest method after subtraction of different payments for impairment. Again, the administration of Qantas Airways formulated an optimal framework for capital by simultaneously lessening the debt and escalating the liquidity that led to the enhancement of the return on employed capital to around 16%. However, the transformation program of Qantas Airway also assisted the business in making the repayments of roughly $1 billion of the total net debt of the corporation Qantas Airways (Qantas.com.au 2016). Plant, property and equipment (PPE): As per the annual financial declarations of the firm, the plant, property and equipment of Qantas Airways amounted to $136 million in the year 2015. Nevertheless, the plant, property and equipment (PPE) of the company Qantas Airways were registered to be $134 million in the year 2014. The reports marked the 1.4% increase in the plant, property as well as equipment in 2015. The analysis of the financial reports reflects the fact that the non-recurring fair value calculation for the PPE that are classified as held for sale can further be categorized under the fair value ladder based on utilization of different inputs of appraisal mechanism (Yong et al. 2016). Depreciation: As per the reports declared in the annual statements, it can be hereby ascertained that the depreciation and at the same time amortization cost were recorded to be lesser with $195 million after reduction ensuing from different non-cash impairment to the Qantas International fleet. Depreciation and amortization expenses were essentially lower than the $195 million of the diminution ensuing from the non-cash harm to the Qantas International fleet. Again, the depreciation and amortization expense was essentially registered to be $1422 million in the year 2015 that increased from the year ago figure of $1096 million (Qantas.com.au 2016). The management of the organization refers to the straight-line process of depreciation based on the various financial items of plant, property as well as equipment except only the land that are not depreciated. The rate of depreciation of diverse owned assets are in essence calculated to allocate different owned assets that are calculated after subtraction of the estimated residual value over the anticipated economic life of the asset of the Qantas Group. In addition to this, the assets of the company are generally devalued from the acquisition date as regards internally produced assets from the time the definite asset can be applied (Miller Power, 2013). Treatment of leases: The Qantas Group fundamentally leases a particular airline under finance leases that has the expiry dates ranging between one and ten years (Kang Gray, 2013). On the other hand, analysis of the financial declaration reveals the fact that the total finance leases of the company Qantas Airways is equal to $1498 million where the operating lease amounts to $2782 million. The financial reports also reveal the fact that the capitalized operating lease liability is in essence calculated at fair value at the particular commencement date of the lease. Again, the measurement of the lease needs to be re-enumerated over a particular term of the lease founded on both principal and interest that is almost similar to finance lease (Qantas.com.au 2016). Analysis of the process of reporting revenue in the financial reports of Qantas Airways: Relationship between the measurement employed and the provision of decision-making The preparer of the financial statements of Qantas Airways essentially complies with the Corporation Act 2001 along with different Listing Rules stated under the Australian Stock Exchange (Aasb.gov.au. 2016). Furthermore, the management of the organization Qantas Airways has adopted the strategy of providing constant disclosures that in turn can help the financiers of the firm in getting a clear understanding regarding the financial performance as well as the financial position of the firm (Henderson et al., 2015). Besides this, the continuous disclosure can also help in augmenting the confidence of the investors regarding the transparency, reliability and integrity of the operations of the organization and the financial statements declared by the corporation. The process of preparation as well as presentation of the financial statement of the firm also follows the conceptual framework AASB (CF). The conceptual framework provides a clear overview regarding the definition and objectives of the financial statements along with the scope and the criteria for recognition of the data. The framework also helps in understanding the process of measurement of different items in the financial statements. Accordingly, the investors can examine the effectiveness of the business by using the financial statement of the firm prepared using different accounting standards of the AASB (Edwards, 2013). The system of measurement employed also indicates the orientation of the preparers of the financial system to prudence in the conceptual configuration. The compliance of the financial declarations to relevant standards can thereby ensure the overall steadiness in the financial information and make certain the nature of the neutrality of diverse activities (Atrill McLaney, 2016). Again, the conformation with the relevant standards for measurement of the financial statements and adherence to different guiding principles can help in avoidance of different attempts of deliberate misstatements in the financial reporting. Therefore, the presentation of the financial statements as per the conceptual framework can help in minimizing the errors in the statements of the company and generate investors confidence. The financiers can thereby rely on the financial statements and arrive at useful decisions (DRURY, 2013). The update as well as improvement of the conceptual framework indicates the process of elimination of the IASB with particular point of reference to diverse notions of prudence. The procedure of updating and at the same time developing the notion of prudence needs to exclude noteworthy factors of faithful representation (Deegan, 2013). The up gradation of the standards also indicates the system of updating diverse point of references to the conceptual framework that in turn refers to the anticipated amendments to the standards, namely the AASB 2, AASB 3, AASB 4, AASB 6, AASB 101, AASB 108, AASB 134 among many others (Barth, 2013). The investors can analyze the performance of the organization by studying the inventory level of the organization and the effectiveness of the organization in conversion of the inventory to sales before arriving at any decision (Bonin, 2013). The measurements of the plant, property and equipment using the relevant accounting standards can help the investors in understanding the value and thereby help the financiers to become responsive to different options of investment of the firm on the PPE. The investments of the corporation on the PPE might possibly indicate towards the outflow of cash that can help in generation of revenue in the future period (Chan et al., 2016). Therefore, the items presented in the financial statements as per the required standards can help the shareholders of the company and the wider community of the financiers in understanding financial position of the firm and boost their sentiments. Conclusion The financiers can evaluate different items of the financial reports of the corporation Qantas Airways and presents the different concepts of the financial measurements. In addition to this, the current study also helps in understanding the problems related to measurement in the present context of the present AAASB standards and framework with special orientation to the operations of the company Qantas Airways. Again, the above-mentioned study has helped in gaining a deep understanding regarding the issues related to the measurement of different items of the financial reports in the context of AASB. Furthermore, the above study also helps in gaining an oversight on the relationship between the measurement employed in the Qantas Airways and the provision of the different decision. Reference List Aasb.gov.au. (2016).Australian Accounting Standards Board (AASB) - Home. [online] Available at: https://www.aasb.gov.au [Accessed 23 Aug. 2016]. Atrill, P., McLaney, E. (2016). Financial Accounting for Decision Makers 8th edn. Pearson Higher Ed. Barth, M.E., (2013). Measurement in financial reporting: The need for concepts.Accounting Horizons,28(2), pp.331-352. Bonin, H., (2013).Generational accounting: theory and application. Springer Science Business Media. Chan, S. H., Song, Q., Rivera, L. H., Trongmateerut, P. (2016). 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