Fredrick Engels Economics

Fredrick Engels tried to understand society at a time when Europe was embracing capitalism. The period was characterized by industrial development and private ownership of property. Modern technology contributed to modernization of production.Advertising We will write a custom essay sample on Fredrick Engels: Economics specifically for you for only $16.05 $11/page Learn More The society had to change from previous modes such as feudalism to capitalism. Many scholars gave their views as regards to economic organization. Engels had his own views that were purely socialist in nature. According to Engels, resources should be controlled by society not individuals. In society, the owners of the means of production own everything whereas the proletariat owns nothing. The workers produce goods that they do not consume mainly because of high prices. Goods and services are extremely expensive for the working class since they are paid little. Pauperization finds it s way to society because people cannot meet their needs. Political leaders take advantage of the prevailing conditions to buy votes from workers. Workers have nothing to offer in society apart from cheap labor (Engels 87). This paper analyzes how Engels viewed society and how he wanted the society to be. The paper addresses four major issues that are of concern to the working class. These include exploitation, alienation, subjugation and domination. Engels observed that economic organization was the central aspect of society. This means that the means of production such as tools, raw materials and skills are very important as compared to other values. Economics controls all forms of human life including social, political and cultural life. He referred to economics as the base meaning the foundation upon which other structures are developed. The superstructure such as ideas, culture, politics, education system and religion is controlled by economics. The rich persons use their wealth to acquire education and political power. Workers are perpetually pushed to the periphery if not subjugated. Workers exist only at the mercy of the ruling class.Advertising Looking for essay on social sciences? Let's see if we can help you! Get your first paper with 15% OFF Learn More In other words, life is completely dependent on production and distribution of goods. Engels focuses more on materialistic interpretation of human history. He criticizes the existing social arrangement that is based on material resources. He correctly observes that the central institution of capitalistic society is private ownership of property. It is true that societal resources are controlled by the few in the capitalistic society. Goods are produced for the market not for domestic or communal consumption. Therefore, the major aim of the owners of the means of production is profit maximization. In this regard, they use all available means to accumulate resources. Engels observed that t he owners of the means of production bribe voters to acquire state power. State machinery is employed to suppress any efforts of liberation. Police officers are used to prevent workers from exercising their democratic right of demonstration. The labor unions are influenced by labor ministries to accept biased labor laws. The learned members of society and religious leaders are also influenced by bourgeoisies to pacify the population. Intellectuals rationalize, legitimize and justify the existing social order, which is distorted in real sense. Religious leaders quote some specific verses of holy books to prove to the proletariat that everything is okay. Verses such as ‘be contended with your lot’ encourage the working class to work hard. Societal institutions such as the media are also objects that exist to serve the interests of the bourgeoisies (Engels 97). The owners of the means of production use the media to spread their ideology and propaganda. Furthermore, the med ia is used to market products that only benefit the bourgeoisie. Engels used the idea of dialectics to show how change would occur. Change would occur in form of a revolution. The existing social order, which he terms as thesis will generate its anti-thesis. From the struggle, a qualitative and a more appealing social order would emerge called synthesis.Advertising We will write a custom essay sample on Fredrick Engels: Economics specifically for you for only $16.05 $11/page Learn More Engels perceived the synthesis as being people oriented. The state would be forced to serve the interests of the majority. This is what other scholars refer to as social democracy or socialism. Resources would be distributed equality among members of society. However, he cautions that the bourgeoisie will not sit back and watch the proletariat take over state power. The owners of the means of production would use all available resources and techniques to maintain status q uo. Through this, many will lose their lives. According to Engels, nothing would overthrow the rule of minority other than a revolution. Some workers will be bribed to betray their fellow proletariat but workers will identify such tricks and move on with their plans. Engels continues to give his views by noting that profits would fall among capitalists mainly because of competition. At the same time, workers would gain consciousness and demand for their labor rights. Capitalists will resort to using technology because it is easy to control. Workers would then wage a war due to unemployment and hard economic life. This is how a socialist revolution will take place. In other words, Engels appreciates the relationship between the worker and the bourgeoisie. It is a complex relationship (Engels 101). Workers need employment whereas the bourgeoisie needs labor. In conclusion, workers cannot exist without the presence of the bourgeoisie. The employers try to eliminate workers from the pro duction process by resorting technology. Domination, exploitation, alienation and subjugation have reached climax in the 21st century. Each company produces goods for the market. Workers are expected to work like machines implying that Engels postulations are accurate. There is no time for leisure and social recreation in the modern world. The worker is only given some time to carry out animal related activities such as eating, sleeping and procreating.Advertising Looking for essay on social sciences? Let's see if we can help you! Get your first paper with 15% OFF Learn More Works Cited Engels, Fredrick. Condition of the Working Class in England. London: Penguin Classics, 1987. This essay on Fredrick Engels: Economics was written and submitted by user Haiden Y. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. 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ACT Test Security Protocols What to Expect

ACT Test Security Protocols What to Expect SAT / ACT Prep Online Guides and Tips Standardized test materials must be kept under lock and key to ensure fairness and scoring accuracy during each administration. The ACT is no exception to this rule, and ACT Inc. has many regulations in place to prevent the distribution of confidential test questions to the public. In this article, I'll go through all of theACT test security rules, what security breaches have occurred in recent years, and what this means for students in general. Why Is ACT Test Security a Concern? It’s extremely important for ACT Inc. to ensure that the test materials are secure before, during and after each administration.In the event that someone acquires test materials before the exam, the integrity of that whole administration of the test is compromised.Students with prior knowledge of the test will earn artificially high scores and skew the curve, putting other students who didn’t cheat at a significant disadvantage.Breaches in test security also undermine the credibility of the testing organization and the validity of the test as a measure of academic ability. How Does ACT Inc. Ensure Test Security? There are a few ways in which ACT Inc. guards the integrity of exam materials. These regulations come into play before, during, and after each examination period. Security of Test Materials Before the Exam Access to test materials before test day is restricted to test coordinators who work for ACT Inc.School staff may assist in organizing the materials, but only if the test coordinator is also present and the staff member doesn’t have any relatives who will be testing during this administration.Anyone who assists with the test materials must be identified on the ACT State and District Testing Staff List.Anyone who may potentially take the ACT within the next 12 months is prohibited from gaining access to the test materials.Test materials can’t be transferred to or from another location without prior authorization by ACT Inc. Test coordinators are responsible for all testing materials from start to finish to prevent tampering by anyone at individual schools.The test coordinator checks all the packages of test booklets upon receipt at each school to ensure that none have been tampered with.The materials are also counted to ensure that there are no missing booklets or booklets with broken seals.The seals on all test booklets must remain intact until the examinee breaks them on test day.The carton of test booklets is then resealed by the test coordinator, locked away in a secure area, and only brought back out on the morning of the test. Test Center Conduct Test coordinators from ACT Inc. must hand the booklets directly to proctors on test day.Booklets are re-counted every time they change hands to make sure the number of booklets stays the same and the serial numbers are correct.Completed exams go directly back into the hands of the test coordinator and are stored in a secure area. Testing rooms are never left unattended even if there is only one student in the room, and students are prohibited from viewing sections of the test ahead of time or turning back to sections after time has already been called.No electronic devices that might be used to document the test content in any way are permitted in the testing room.Devices like smartphones should be turned off and stowed away under your desk/in your bag throughout the exam. Don't risk leaving your phone on. If it starts ringing in the middle of the test, you'll most likely be dismissed and have your scores canceled. Farewell, sweet prince (for a couple of hours, then it's back to checking my email every ten seconds). Recent Breaches in ACT Test Security In August of 2016, the ACT laid off its head of test security in response to a huge security breach that occurred on the last administration of the test.During the June 2016 administration of the test, the ACT canceled all sittings in Hong Kong and South Korea because of leaked test materials.The ACT plans to audit nearly 200 education centers after widespread cheating was discovered in ACT-owned college-prep programs for international students.Test prep companies in China and South Korea have also been administering the ACT to students, a practice which is prohibited by ACT Inc due to the obvious conflict of interests. There have been reports of widespread cheating in the ACT-owned Global Assessment Certificate program or GAC, which operates countries and has over 5,000 students and 197 centers (most of which are located in mainland China).Some students have reported that they were allowed to practice with materials that later showed up on the real exam.There have also been issues with test prep companies, particularly in East Asia, taking advantage of the ACT’s practice of reusing questions by harvesting questions from past exams so that students can practice with materials they may see on the test. ACT Inc. has plans to introduce a computerized version of the ACT for international students in 2017 to reduce the risk of materials being leaked ahead of time to students. The next step in ACT technology: Robotic test proctors with impossibly chiseled abs. What Do ACT Test Security Rules Mean for Students? It’s important to understand the consequences of sharing confidential test information, whether it happens before or after you take the test.Though tracing test security leaks is very difficult, their impact on you, the other students taking the test, and the integrity of the whole system is extremely negative. If test materials are leaked, lots of scores may be canceled, even those of students who never consulted the materials beforehand.Also, ACT Inc. won’t be able to use the questions they created ever again after they’ve been compromised.If test leaks occur and are not discovered, students will earn artificially high scores, skewing the curve lower for everyone else.Basically, if you hear about any test leaks, it’s in your best interests to report them to ACT Inc. and not to participate in the cheating. On test day, make sure you have a valid photo ID and your admission ticket with you so you can verify your identity. Bring a calculator that has been approved for use on the test. When you're taking the test, don't try to skip ahead to a section that hasn't started yet or go back to a section that has already passed. Don't discuss questions with other students during breaks, and keep your smartphone turned off and stowed away in your bag at all times. Violations of this kind could result in your scores being canceled! Also, don’t try to recreate test questions after you take the exam (this is something people have done on College Confidential fairly frequently).There’s a reason the ACT asks you not to talk about the specific materials you saw on the test. Sometimes those materials will be reused on future exams or slightly later international test dates.I know it’s hard not to talk about questions after the test, but you really shouldn't post them in online forums where people who haven’t taken the ACT yet might take advantage of them. Don't yell out the answers to ACT questions in the middle of the ruins of the Roman forum either. You never know who's listening. Although if they do listen to you for more than a couple seconds they're probably not of sound enough mind to do anything with what they hear. Summary: What You Need to Know About ACT TestSecurity ACT Inc. takes test security very seriously. If the questions are compromised, they can no longer be used, and many students' scores may become invalid. Many regulations are put in place to prevent question leaks both before and after each test is administered, but sometimes things still slip through the cracks. There have been several instances of question leaks and related cheating scandals just within the past few years. As a student, it's in your best interests to keep the questions confidential after the test and to report any signs of cheating. Test security violations don't just help the people who have advance knowledge - they actively hurt everyone else who takes the test fairly. What's Next? Check out this article for more details on the rules and regulations that inform test day procedure (and how to make sure you don't violate them). What exactly can you expect when you get to the test center? Read this guide to ACT test day so you can feel comfortable going into the experience. It's important to say something if your proctor makes a mistake or the test center environment is too distracting. Learn when and how to speak up in these situations. Want to improve your ACT score by 4+ points? Download our free guide to the top 5 strategies you need in your prep to improve your ACT score dramatically.

List and dene the six ethical principles discussed in your text Essay

List and dene the six ethical principles discussed in your text - Essay Example Most determining factors would be specific to the particular ethical dilemma at hand. Along with the particular details of the problem, IS managers can peruse some time-tested, universal ethical principles in arriving at their decisions. The first one is â€Å"Do unto others as you would have them do unto you†, which is an old proverb with Christian associations. (Laudon & Laudon, p.419) Putting oneself in the shoes of other parties and applying same standards of judgment are the basis of this principle. The second one is the application of Categorical Imperatives – a concept first articulated by philosopher Immanuel Kant. According to this principle, in order for a community or group to maintain its cohesion, there are actions that are forbidden to all members of it, irrespective of circumstances and other conditions. Similarly, certain responsibilities are to be fulfilled by all members without exceptions. And Information Managers should see to it that they do not bre ach such categorical imperatives. Rene Descartes’ Rule of Change is another useful guideline for IS managers to follow. It says that â€Å"if an action cannot be taken repeatedly, it is not right to take at all†.

Service quality of Fine Dining Restaurant Essay

Service quality of Fine Dining Restaurant - Essay Example From the collected data, it was evident that the main factors considered by the customers in terms of service quality revolved around four subjects. These areas of concern are the physical appearance of the place, the kind of food offered, the variety of foods in the menu, the type of service provided by the staff, and the pricing of the food. Most of the respondents found something positive about the physical appearance, considering it was a fine dining restaurant. On the other hand, the service of the staff and the quality of the food served received a lot of criticism from the customers as they did not meet their expectations. As such, appropriate recommendations were made at the end of the research that would assist the restaurant in meeting customer expectations and retaining its economic competitiveness. A lot of research has been carried out in the field of hospitality (Lane, 2014). According to Rush (2008), it has been noted that many industry players are no longer concentrating on the speed at which they expand their hospitality companies and businesses, but at the rate at which they meet customer expectations. There has been a great need for maintaining customers in restaurants following the rapid increase of fine dining restaurants, and the key winner is the level of service quality. It is important to identify the fact that customers’ perception of the service quality of a business determines the level to which they are satisfied. Therefore, a business should be careful in setting the customer perceptions as they affect their expectations. The level to which these expectations are met determines the service quality of a place through either satisfaction or dissatisfaction of a customer. These two states are quantified from the experience of a client in the business through incidents that they undergo (Ford, Sturman, & Heaton, 2012). The critical incidents technique is used to identify these experiences for individual customers. It is

Individual Reflection Report On A Business Plan Education Essay

Individual Reflection Report On A Business Plan Education Essay Terms of Reference This report has been prepared as a reflective work of my groups business plan for MBA course. The purpose of this reflection sheet is to redirect how I and my team mates worked while undertaking the project. The point of writing this report is to include my thoughts and reactions to the experience. The reflective journal is a personal record of my learning experiences (White, 2005). I have been asked by university management to write an individual reflective journal on business plan that should consist of my critical way of thinking in an analytical way. It has been written to reflect on my work which will allow the readers to understand my achievement being a member of a team and my role as a researcher, analyser, critical thinker, reporter and presenter (White, 2005). I tried to be as specific as possible as this journal is a persuasive essay arguing on behalf of myself. It includes where my inspiration comes from, how I made use of my ideas to develop my work and my awareness of t he context in which I work. This reflective journal is an individual report that has described my work based on the business plan that I have participated in. I was chosen to work in a team of five members to build a business plan regarding launching a business in Cardiff. My team members for this assignment were Archana Ashu, Gagan Deep Singh, Nadeem Khan and Rachit Ajmera. The business plan that we have worked together, is regarding launching a multiplex cinema in Cardiff. This business plan provides a 3 year operating plan for a Multiplex cinema with a start-up capital of  £5 million. In this report we highlighted and analysed all the factors essential for a start-up. We considered market analysis, market strategy and costing, staffing and resourcing, and financial projections for the first 3 years of the business. In this reflective journal I have described objectively what happened, I tried to Interpret the events explaining what I saw and heard, my insights, my connections w ith other learning, my hypotheses and my conclusions. I also evaluated the effectiveness and efficiency of what was observed. In this journal, I have described how I tackled team issues, interpreted my role as a team member, what did I learn being a team member and How I approached challenges. Other than problem solving I have recorded and mentioned knowledge and understanding of relevant theories, synthesis of what would I do differently next time reflecting on how the workshops/meetings helped develop my study? I have been asked to reflect an analysis, taking into account aspects of my strategy formulation and explaining how I built upon and applied knowledge from taught modules. I have made sure that structure of work follows all the section headings and recognises marking scheme, language is concise and this journal is presented according to school guidelines. Problem solving I was chosen to work in a team of five members to build a business plan regarding launching a business in Cardiff. My team members for this assignment were Archana Ashu, Gagan Deep Singh, Nadeem Khan and Rachit Ajmera. Although I wanted to be in a team of my close friends, the administration allocated teams randomly and put me in a group of five students. Luckily I already had close friendship with one member and I knew one other as he was in a same study group as mine. Initially I had objections with the supervisors decision of allocation but gradually as I started to know my team members, this opposition faded away. I felt friendly and enthusiastic being in this team. Being students from different backgrounds and societies naturally raised some problems for us but we managed to solve all the issues quite amicably (Gillie, 2010). All the disagreements were resolved and we worked together harmoniously. As a contemporary management student, I understood the capability of a team is gre ater than the collective abilities of the individuals within it. As soon as I was consigned in a team, I called everyone for a meeting to know each other and discuss task in hand. For me, doing the work in a friendly environment and more casually could make the task easier. Rest of the team members did not agree and had some reservations but I motivated them and persuaded them to follow my arrangement. In the meetings, plan was discussed and ideas were revolved (Gillie, 2010). I also put forward my thoughts and plans. After careful planning, thorough discussion and constructive arguments I made them agree on the topic. We defined our roles according to our strengths in subject areas and tasks were assigned to each member. My team set its standards of ethics and behaviours to achieve positive synergy and to create effective environment (Levin, 2008). All team members were highly committed and motivated. My strong area was marketing, hence id been assigned with collecting, analysing a nd evaluating marketing aspects of the business plan. I also convinced them to work closely and stay in constant contact. Although we had to work individually on our tasks but I collaborated to help others in their work and vice versa (Levin, 2008). Apart from problems mentioned above, I and other team members faced some other problems such as lack of knowledge of how to conduct the study, inexperience of research process, lack of critical analysis during research process, less research was done on every individuals part and there were critical judgements on each others work, no involvement of critical thinking which made our presentation look descriptive, and inconsistent decision making. All these problems were solved jointly (Gillie, 2010). I have learnt that team is more successful when members within it are able to create synergy. Since our goals, objectives, tasks, and priorities were larger than any individual, teamwork was required. When team members know how to be more effective together, synergy happens and greater organizational success is achieved. I have also understood the importance of teamwork (Sugars, 2005). I considered every member of my team as important as each person brought unique skills, knowledge, and experience. Team members also brought energy, drive, passion, and determination. Since not everyone brings different amounts of all of these things, team members needed each other. Increasing the strength of each team member produced greater team success and results. I along with my team members approached all the issues quite confidently as I knew our collective strengths could tackle any problem we face (Glover, 2009). Knowledge and Understanding By conducting a research as a team, I felt that there is no doubt team theory is relevant in practice. I was confident to relate the research and the theory I have studied during my MBA course (Sugars, 2005). Previous experience in management field also came handy. The most important thing I have gained knowledge of is the effectively working in a team. In the later stages of the project, coordination among team members increased considerably. This helped in improving and polishing our communication skills. We learned that everyone can do their own part to work towards a common goal and that there doesnt need to be just one distinct leader (Glover, 2009). Although different tasks were assigned to team members, I remained in constant contact with every member and consulted on every possible occasion. This also helped me learn and understand their approach as well (Glover, 2009). As an individual, working on a business plan has helped me to understand how to make an official report. It assisted me in research methodology, how to check different sources and how to carry out research. The proposed business plan was solely concentrated on market penetration and market acquisition with its customer service, facilities, ambience, and projection technology and above all, operational benefits (Sugars, 2005). Beside this, I managed to learn different marketing techniques and got a practical experience of how to apply marketing models and theories. I considered myself an important member of a team in formulating strategy and objectives to achieve this strategy. The main purpose of conducting a market research was to identify and establish potent ial market and also to get the reliable data for product. I have learned to analyse the market and potential customers before entering the market. I understood the market analysis for business is to check the feasibility and the absorbance of product in the market and to understand the trends and behaviour of the consumers in market and to apply strategies accordingly (Dyer, 2007). All this provided crucial and reliable information. I studied to carry out market analysis; learned about market size and forecast; its share, trends and behaviour. I also assessed competitors and their strategies, targeted market segments, analysed our business core competencies and critical success factors; marketing and costing strategies. This business plan also assisted me in projecting financial position and reports along with knowledge of staffing and resourcing for business (Sugars, 2007). Synthesis Although all team members planned the business plan and divided the tasks according to their strengths but we still faced some problems. I would like to change my approach a little next time I involve myself in this type of activity. I would definitely focus on time management and motivation issues (Dyers, 2007). Others areas need to be improved are analytical skills and market assessments. The area of critics of team needs some perfection as well. Every members presentation skills were weak that resulted in lower marks. The report looked descriptive and team members just read that in the presentation meeting. Experience gained from this project will definitely help to improve the above mentioned areas in the future (Saunders et al. 2009). There are a lot of aspects and factors that helped me develop my understanding and improve my knowledge. Workshops and lectures taught me how to carry out a research in desired fields, what method to select and what approach to take. Meetings provided facilitation in problem solving and strategic planning. These also helped me in decision making and working in a team (White, 2005). Analysis and Evaluation As a student studying MBA course from a renowned university, I was expected to apply critical thinking and analyse the business plan. The modules that I have studied during my lectures helped me apply marketing tools and techniques to my research. I learned how to apply theory into practice. This was a new idea to me but I was successful in interpreting this. This helped me gained both theoretical and practical knowledge. I applied knowledge from the books and journals to formulate the strategic plan, mission and vision of the company that I was working on. I applied different models successfully such as McKenzie 7s model, Porters generic strategies, Ansoffs growth model, IR model, Porters five forces model and some others (Kotler. 2010). The knowledge from the lectures helped me how to search different sources which was useful in strategy formulation. Overall the use of theoretical knowledge in practical situation helped me understand the business plan. I used the theories to advanc e my understanding of the business plan. The practical experience was built upon the theoretical knowledge (Saunders et al. 2009). Theory asked me how to conduct a research; based on this I practically collected data and information for analysis. Theory taught me how to calculate; I practically used this knowledge to formulate a financial projection; Theory explained how to apply different models; I managed to use these theories according to my situation and constructed a whole report. I practically worked in human resource filed to staff and resource my business. Having completed this project, I have learned how to better argue a point in discussion. Using facts and example, my arguments have become much better (Sugars, 2005). The project taught me and my team members to be good team members, cooperative and helpful. I felt a change as my researching skills increased considerably. I can better understand the topic and use a variety of sources for search purposes which will help me a lot in future research process. I can create a conclusive argument that can set a tone of the entire project. Using latest techniques of researching and arguing, my paper will seem clearer and my arguments more apparent (Bryman and Bell, 2007). I have also updated my accounting knowledge by working on new accounting principles. I was responsible for quite of lot of report writing. It was good for me to get practice at writing, at proof reading, editing, etc. I did have a sense of achievement when a report was finished. And finally my computer skills have also impr oved from writing reports and through having 24-hour access to the computer. These skills are not great, but in comparison to my own skills before working on this project they have progressed well. I personally feel that business plan is viable as it helps us understand not just to apply critical thinking and analyse the information but to use the theory into practice. This is what I think MBA requires. It helps the students getting management experience and applying what they have learnt in their lectures and workshops.

Restaurant Business Plan

Confidentiality Agreement The undersigned reader acknowledges that the information provided in this business plan is confidential; therefore, the reader agrees not to disclose it without the express written permission of . It is acknowledged by the reader that information to be furnished in this business plan is in all respects confidential in nature, other than information that is in the public domain through other means, and that any disclosure or use of this confidential information by the reader may cause serious harm or damage to .Upon request, this document is to be immediately returned to >. Signature: Name: Amanda Walsh David Cagney Date This is a business plan. It does not imply offering of securities. (1) Executive Summary The Grab: Do you want to expand your horizons when it comes to good quality Italian cuisine? The Taster offers you the opportunity to sample food before ordering off the menu free of charge. They recognized that people stick to their comfort zone when it comes to ordering food in restaurants and wanted to change this by letting the customers excite their taste buds.The Problem: A problem the restaurant is preparing to face is to distinguish between serious customers who have an interest in trying new cuisines and customers who come into the restaurant and take advantage of the service in a negative way and don’t appreciate the offer that is provided. This problem could have serious repercussions and affect the profit of the business significantly and therefore must be controlled. The Solution: The solve this issue the staff have to monitor the customers closely, allowing customers limited samples of the food to ensure they don’t fill up on free samples and leave.The chef’s responsibility is to ensure each customer only receives a bite size amount of the food, over indulging the customers will eat into the profits and defeat the purpose of the service provided. The Opportunity: It can be rather challenging to tar get different market segments simultaneously but at The Taster restaurant we are planning on catering to a wide customer base. We segmented the market according to Geographic, Demographic and Psychographic.Our market size is relatively small in comparison to world wide international restaurant chains for example the Hard Rock cafà © however we do have the potential to grow in the market and expand our business in Ireland and possibly the United Kingdom. Your Competitive Advantage: Currently there are six other restaurants in the area and it puts the Taster in direct competition with Casa Pasta & Pizza. The menus that the two restaurants offer are very similar as they are both Italian cuisines however the taster has an advantage over them as they have a potential unique selling point of sampling the food as mentioned above.The Model: The Taster aim to generate revenue from their target market by creating a ground-breaking, unique restaurant with a relaxed sophisticated atmosphere th at will clearly differentiate the restaurant from others. The main goal is to use nothing but high quality fresh Italian ingredients and to approach each customer with the highest standard of service imaginable all of the time with none expectations what so ever. This makes the restaurant scalable as it has the potential to generate growth in the revenues considerably faster than its cost base.The Team: The team at The Taster have the ability to achieve all the goals and succeed in the business and it grows and becomes more successful. When hiring staff for the restaurant only qualified, trained and experienced people will be made part of the team. Highly motivated and enthusiastic people will be favoured. Additional training will be provided as the restaurant wants the highest level of customer service and for customers needs to be dealt with before the customer even anticipates them to allow them to have an incredible dining experience.Financials: Our financial projections for the first five years are as follows. The key driver to succeed is that the company needs to successfully operate through the first year in order to provide adequate cash flow to be self-sufficient in year two. The Ask: The initial financing available to the company in addition to the capital contributions from the owners, will allow The Taster to successfully open and maintain operations for the initial five years of business and offer the customers in the Donnybrook area a unique dining experience.Start-up costs and initial financing are as follows. Jane Ericson will be investing $20,000 of savings and guaranteeing a loan for another $30,000 with personal assets. In addition, the business will receive an interest-free loan from a family member of $10,000, to be repaid within the first year. (figures to be changed) (2) Team and company The Taster was founded in 2011 by Amanda Walsh and David Cagney who are the two joint investors in the project. They created Italian restaurant that off ers customers fresh homemade Italian food at a reasonable price.There is also the opportunity for the customer to taste a bite sized amount of the food if they are unsure before ordering. They will offer a few different types of menus depending on the day of the week and time of day including lunch and early bird menus during the week and set menus and lunch menus at the weekend. The Taster will be open seven days a week, serving lunch and early bird menus Monday till Thursday and set menus and al la carte menus Friday till Sunday. What relevant experience has the team got? David Cagney has been working as a bar man for the past two years in the Aviva Stadium.He has recently graduated from the Aviva Academy which was a significant achievement as he was picked from a group of one hundred applicants out of two hundred. David has also worked as a part-time waiter in Foleys Bar, near Stephens Green and in Graingers along the Malahide road. Amanda has over two years’ experience as a chef and a waitress for the Bad Ass Cafà © in Temple Bar. As we have both have experience in the hospitality industry, their skills complement each other which makes it easier to occasionally share ideas and views on how to take their business proposition to the next level.What are the gaps in the team? Both members of the team are very weak when it comes to the financial aspects of setting up a business. They contracted professional accounts to help with this aspect of the business as it is a very important. The businesses needed someone to draw up a cash flow, profit and loss account and a balance sheet for their financial projections. Has the team worked successfully in the past? The team have not worked with each other in the past, except for the development of their feasibility study.Despite the fact that they have never worked with each other they are making significant progress and working alongside each other throughout the project. Are they well known in the industry? T he team are currently not well known in the industry as they have never worked with each other in order to make a name for themselves. They are confident that their ideas will satisfy customers’ expectations and will make their dining experience a pleasant one, one which they will want to go back and tell all their friends and family about. Who has the experience with solving this customer problem?The team will only gain this experience by actually going out and setting up the business, with the skills they have picked whilst working in the hospitality sector. Who has experience selling competitive offerings to this market? Both Amanda and David have limited experience on how to sell competitive offerings, although they have some knowledge in relation pricing strategies from their marketing studies.They believe that how they’ll price their menus as opposed to other Italian restaurants in the market i. e. , Casa Pasta and Pizza, will be vital in the early stages of thei r launch. 3) Product and market The opportunity problem: Value proposition: The Taster restaurant satisfies the customers’ needs of eating out and gives them the knowledge they need behind them when ordering food. Waiters can be very vague when describing the taste of the dishes that customers are curious about and a lot of times have never tasted the foods themselves. The Tasters gives the diners an opportunity to try the foods so they can have their own opinion and peace of mind when a ordering a new dish or something a bit different, so they know exactly what they are getting.This business goal could generate potential customers in the long run through word of mouth and effective advertising as it has many benefits to the customer. It allows customers to try new foods and avoids them been left with a full meal they won’t enjoy which saves them money on wasted food. The customer: The Taster has created a market for several different categories of customers. The indiv idual people that go for lunch or dinner by themselves usually during or after office hours. Families and friends who dine together for lunch or dinner usually on a Sunday, they intend to make Sundays a very family orientated day.Couples usually go out on a Friday or Saturday night for a romantic meal. To encourage as many couples as possible they plan on having a set menu for two people including a bottle of wine. And finally People on a budget, they took into consideration the recession and that a lot of people are on a budget now so they created an early bird menu from Monday to Thursday to cater for these people on a low budget and hopefully fill the restaurant during the week on nights that it wouldn’t necessarily be busy .The Market: The Taster is faced with the exciting opportunity of being the first restaurant to be able to sample the food before ordering. This concept puts them in a great place in the market and gives them the potential to become a huge success. Ther e isn’t a huge market as we can only reach a percentage of the country but there is huge potential for the market to grow at a steady pace as the restaurants expand, every five years if all goes to plan. There is no shortage of restaurants in the Dublin four area, which puts The Taster in a competitive market.According to Porter’s five force model The Taster is structurally attractively as they have an advantage over their rivals in relation to changing price with their set menus and the fact they can differentiate their product from others in the market with similar establishments. Market size: Market context: Here is the pest analysis for The Taster restaurant. All of these factors are inevitable and cannot be changed by the restaurant * The political factors include Government regulations for food preparation has been put to place to ensure the safety of customers in the restaurants.Food safety authority of Ireland has put a procedure called HACCP into place to regu late this. The government have full control over tax and vat rates. For the initial set up of the restaurant high interest rates might discourage us from borrowing money from a financial institution because it costs so much to borrow. * Economic factors are Inflation, which will increase the amount of wages for employees and automatically increase the business expenses as wages is one the highest expenses in a business. Eating ut in restaurants isn’t an essential it’s a luxury that many people in this economic climate cannot avail of as they have lack of disposable income. * Social factors include the huge increase in health awareness and people concern more about their diet and lifestyle.The Taster took this into consideration when creating their menu and included many healthy options to choice from. Over the past few years the media have put a lot of attention on healthy living and healthy life styles. The chefs had to take this into account when we are preparing the food in the kitchen.A lot of woman are now working full and part time and not staying at home so there is a huge decrease in the amount of people cooking at home as it is more convenient to eat out and get take- aways. * Technological factors in the restaurant have made significant changes for example when an employee puts a customer’s order into the till the order is sent directly to the kitchen so it saves time. The process of ordering food is made simply and efficient as the chefs can make food orders online. This allows them to order exact quantities of food at any given stage during the day even on weekends.Handheld computer devises also allows staff members to take orders quicker and not have to write it down, not only does this save on paper it also like the till sends orders directly to kitchen. Competitive positioning and advantage: The Taster’s positioning in the market will generate sales against the competition and give them a competitive edge over the oth er establishments. By offering the consumers a unique product, along with outstanding service, The Taster will stand out in comparison to the competition which is an attractive prospect for potential investors to the restaurant.Currently there are six other restaurants in the area and we are in direct competition with Casa Pasta & Pizza. They also have lunch specials and early bird menus to attract customers. The foods we are providing are very similar because they are both Italian so we have obvious similarities in the menus. The competitors will respond to a new restaurant opening in the market by been even more competitive with prices, quality and the service. They have an advantage over the direct competition that competes with what they are offering as they have a unique set up in the restaurant as it provides customers with samples of the food.They also have the advantage that they have a variety of food menus on offer to compete in the recession and cater for most people†™s budgets. The one disadvantage that The Taster has over the competition is that the other restaurants are well known and well established in the market place and have a regular customer base. Competitive Advantage: As mentioned above The Taster intends on competing with the competition by been unique, competitively priced, produce dishes from the finest freshest ingredients and serve the dishes with the highest standard of quality. Risk Factors: Risk| Comment/mitigation|What if there are customers that come in and try our food and samples and walk out? | We will not only rethink the way we produce our cuisine, but we will also rethink how we make our dining service more attractive. | What if a lot of disinterested passers are attracted by the offer and will go in and take the food samples and are generally being very messy? | They will have to look into hiring security in order to manage any antics that might occur from the disinterested people. | How will the restaurant fair wi th the Italian restaurant across the road and the ones in town?This risk is somehow too vague to consider quite just yet, although it will turn into a concern later on. | What will happen if the restaurant can’t manage to balance revenue from our expenses? | This is a possible problem that may occur in the early stages of the business if they don’t manage their expenses well. | What will happen if the main suppliers go out of business for whatever reasons? | They will have to figure out a way of contracting a back-up supplier in the likely event of something as unfortunate ever happening. | Exit StrategyThe Exit Strategy is one of the most important parts in the business. The company needs to ensure that the exit of the company and handing it over to another investor is successful. A plan has to be put into place to make the transition successful according to the company’s circumstances and any requirements that an individual shareholders of the company may have . Assuming The Taster turns into a successful business they intend on selling all of their assets and dividing the finance accumulated among the shareholders in proportion with the money they initially invested into the company.They are assuming they won’t be in debt and each shareholder receives a desirable profit from the business venture. The Taster exit strategy could be due to the liquidation of the company, the sale of the company or the strategic alliance with a partnering company. Although they are assuming they will be success they have to discuss all possibilities and outcomes with the investors to show them what will happen in the worst case scenario and inform them of all risks that are attached. The investors will review all risks and rewards and make a final decision if they want to invest into the company.

Purpose of Education Essay

Education Education is very important in life today to become successful. There are many necessary basic principles and things that a person will learn in school. One of these basic and most fundamental things is to read and write. Reading and writing is so important in life because it is hard to communicate and follow the rules of society without being able to or knowing how to do it. Many signs and rules are written out and if you can’t read you will be lost and unable to follow the rules. There is definitely more than one purpose of education. The purposes of education are to make an individual aware, to earn money, and to develop social skills. An individual learns many of the basic things about life in school. â€Å"The fundamentals of science and math, which one acquires during school, are pillars on which his understanding of life is based† (Oak). Basic addition and learning about the world in which we live is done in school. We become aware of the world and learn why certain things are the way they are. â€Å"It’s through education that you learned about yourself and the world around you. That’s the basic purpose of education – to make an individual aware.† (Oak). You learn about your body parts, why they are there, and what they do, in school. Even though these things might be simple, they are mostly learned in school. School is where people interact constantly and develop strong relationships. â€Å"Education helps an individual acquire social skills, which enable him to interact with people around, maintain social relations and blend well with others in society† (Oak). These social skills are used throughout a person’s entire life. No matter what everyone communicates with other people. Every job requires some type of communication, so these skills are very important to develop, which happens in school. Education also â€Å"exposes him to competition† (Oak). Today there is a lot of competition for jobs and to get into colleges. A person needs to learn to deal with competition and compete as best as possible, and this takes place in school. One of the most important purposes of education is to earn money. People are more enticing to employers when they have a college degree or a masters in a field of study than someone with only a high school diploma. The person with more education will most likely get the job because they are more qualified. â€Å"Many employers use your level of education to determine the salary that you will receive when you are hired† (Baker). People with higher educations receive more money. â€Å"Statistics show that people with higher education make as much as $200,000 more over a lifetime than those with lesser education† (Baker). It is almost impossible to live without money, so education provides a way to make more money so that you can live a better life by being able to afford all necessities. Then luxuries can be bought which make some people feel happy and more accomplished. Education is almost necessary today to find any job other than labor jobs. Education can only help in making a person more qualified for jobs that pay more. Even the basic knowledge along with the basic life skills and lessons learned in school can make someone a better well-rounded person. It will give them an advantage over people who are less educated. Everything in the world comes down to competition and education and the workplace is where the most competition occurs. The main purposes of education are to make an individual aware, to earn money, and to develop social skills. Works Cited Baker, Sam. â€Å"How Higher Education Can Make A Difference.† Grad Money Matters. Web. 21 Mar. 2012. . Oak, Manali. â€Å"Beliefs about the Purpose of Education.† Buzzle.com. Buzzle.com, 17 Feb. 2012. Web. 21 Mar. 2012. .