Challenges Faced by Companies While Entering a Foreign Business

10 Important Factors to Consider Before Starting Your Own Business Published on May 10, 2008 by Educate And Learn in Small Business Comments (46)|59 Liked It Certain key factors which need to be addressed before starting your own business. This article describes different factors which need to be kept in mind before starting your own business. It mainly talks about a business from a proprietorship point of view, rather than from a corporate point of view. Thus it is intended for small business. A number of factors are important in order to start a successful business. Here an effort is made to describe some of the key factors.Knowledge/Expertise Any business requires some amount of basic knowledge and experience. The owner needs to be aware about the business he intends to start. Knowledge and expertise about the product or service are keys to a successful business. In case of limited knowledge the owner may not be able to sustain the business and can be fooled by the vendors, suppli ers and competitors. When you ask yourself a question â€Å"What business shall I start? † you need to get a convincing reply about what you intend to do and how you are going to go about it. Read more in Small Business Small Business Survival in a Down Economy Four Easy Ways to Double Your Economic Stimulus Check  » Expert knowledge is especially required if the field of business is a niche field. For instance the construction or software industry would require more knowledge as against a retail business selling a particular brand of clothes or shoes. Market/Demand Once a decision is taken on the business you intend to start, the next step is to explore the demand / market for the product / service. Certain products will only have a domestic market for them whereas others can be successful on an international level.The key question is â€Å"Who are the customers? † A market survey can be conducted to identify the market for the business to be started. If the product / service is expected to be sold locally, the demand for it needs to be assessed. In case an international market is expected then rules and regulations for dealing internationally need to be found out. Total Project Costs It is important to correctly assess the total project cost required to set up and run the business successfully. In a capital intensive business such as starting a manufacturing plant, the start up costs can be very high.You need to identify the total amount which will be spent on the land & building, plant & machinery, furniture and office equipment, vehicles etc. If a business is in the nature of retail you will need to identify the cost of the store and furniture. Amount required for the decoration of the store needs to be assessed. Similarly in case of an office the major cost will be for the furniture and office equipment. An office or firm can be started at a relatively lower cost initially with only the basic requirements. One also needs to take care of th e working capital requirement.This will mainly consist of the inventory which needs to maintained and the credit which is extended to the customers. From this the supplier’s credit is deducted to arrive at the Working Capital Requirement. The Working Capital Requirement can be quite high for certain industries for example inventory will need to be maintained in a garment store. Similarly in case of a grocery shop there is need for huge inventory for which credit may not be given initially by the suppliers. Financing/Capital After identifying the initial costs required for starting the business, the financing pattern will need to be decided.The financing pattern will be mainly by way of capital introduction by the owner and borrowed funds. Depending on how much capital the owner can introduce the balance amount will need to be borrowed. Funds borrowed will be either short term loans or long term loans. The terms and conditions for borrowing funds will need to be studied such a s the cost of borrowing, security required, rate of interest and the repayment terms. The owner will need to approach a number of banks to get information about their terms of lending and draw a comparative analysis to identify which funding is the most beneficial for him.As a thumb rule short term funds should not be utilized for the purchase of fixed assets. Short term funds are mainly used to meet the working capital requirement. The logic is that if short term funds are used to purchase fixed assets how are you going to repay the short term loan if the business has not progressed. Once the financing pattern is identified the owner will need to decide how the money is going to be utilized. Competition Before entering new business, information about market competition needs to be found out.In case a product is a monopoly then the competition will not matter. Otherwise the success of the business will depend upon the demand and supply gap. Thus if there is a huge demand then you ca n enter the business inspite of the market competition. Otherwise you will need to be stronger than the competitors to gain an entry. Normally existing firms will always have an advantage due to the experience they have and because they may be well equipped. The question which needs to be answered is â€Å"What is unique about the product / service which will be offered to survive the market competition†?Information such as who are the competitors, what is their market strategy and what factors are required to compete with them are important. Location Deciding an optimum location for the business is a strategic and an important one. A good location goes a long way in making the business successful. The location needs to be carefully chosen. Some places have advantages over the others. You can save out on taxes, water and electricity costs if you are located in some areas. The raw materials can be easily sourced, the manpower would be easily available and you can save out on t ransportation costs in case of certain locations.Setting up a business in certain location could lead to subsidy and rebates from the Government. In the case of a retail business one needs to be located in a well populated area and one which is easily accessible. Certain niche products / services of different competitors are available at a single location. For example there are software belts having all software companies. Similarly there are gold marts which have different gold vendors and jewelers at a single location. Laws, Rules, & Regulation Setting up a new business would require compliance with various laws & regulations.Each country is governed by separate laws and regulations which require that any new business be registered with certain authorities and meets certain compliance. Thus registration of the name of the company may be required with Ministry of Commerce for instance. Further details need to be provided regarding the workforce and certain deductions may be require d from the staff (such as tax) which would need to be deposited with the respected Government bodies. Awareness is required of such rules and regulations. It is always better to consult a lawyer before setting up a new business in an unknown environment.There are certain accounting / consultancy firms which would have a division giving advise on legal and statutory compliance. In case of lack of expertise it is better to approach a lawyer / accounting / consultancy firms. Non compliance with the statute could lead to huge fines and penalty and hamper the success of a new business. Return on Investment Return on Investment (ROI) is calculated as Net Profit divided by the Investment made. The ROI is low in the initial years and is expected to grow on a year on year basis.The ROI needs to be compared with the return that would be earned from alternative business options available. For instance it could be compared with any other source of income such as money earned from investment in the stock market. Similarly the Return On Capital must be greater than the rate of interest earned from a fixed deposit kept with a bank. Staff/Manpower Any business requires efficient manpower to succeed. The staff needs to be carefully chosen since they are the ones who could make or break the business. The cost of manpower varies depending on the location of the business and thus this needs to be factored well.The business needs to be set up in a location where there is sufficient availability of manpower both skilled as well as unskilled. This remains one of the key criteria’s whether the business is going to be run with a staff of 2 or 2,000. Technology It is always better to invest in the best technology at the time of start up itself. Post investment, monitoring of the technology purchased is required. Technology would include plant & machinery as well as latest office equipment. One should not exclude the software required to monitor the business. Choosing optimum sof tware is a challenging task.A technologically advanced business is expected to perform much better in the longer run. All the above factors are important to start a successful business. Compromising any of these factors could hamper the growth. Starting a business these days is very challenging and an all round knowledge of various factors is required to run a successful one. It is important to make a Project Report on the basis of the above factors before starting a new business. Read more: http://bizcovering. com/small-business/10-important-factors-to-consider-before-starting-your-own-business/#ixzz2O2yGVG1w

Business Etiquette Essay

Business Etiquette is one of the most important skills any person can posses this days, no matter if you’re a student, or a business person or anyone else, etiquette will come in handy one way or another. When the word Business Etiquette comes to your mind, you think of thing like to burping in front of people or not disrespecting them. what is really Business Etiquette? Business Etiquette is the way a person acts or treats another Employee or customer while on the job. What this means, for example, is phone etiquette. Phone etiquette enables you to handle calls more politely and efficiently. For example let’s say right now a person calls you but your on the phone with another customer, both call are important what do you do? Well In this type of scenario you would tell the second customer that called could you please hold or you have the option also to ask them if you may call them back, but perfecting this method you can assure that your customer will have your full attention everytime you speak to them. Another Etiquette is Dinning Etiquette. The reason why this is important in a business world is because do the fact that most business deal are held over lunch, Proper Etiquette for this situation is always arrive at the door at least 10 minutes early that way you can greet your client at the door. Another this you must not forget is to not talk about any business before lunch is ordered, after lunch has been ordered you may go about your plan. The last most important thing is to pay for your client regardless of the sex and regardless if you business deal went successful or not.

Ethinicity And American Culture Essay

The treaty of Guadalupe Hidalgo 1850 was signed between the American government and the interim government of the military occupied Mexico which resulted in the end of the Mexican-American War. This was intended to bring peace in the disputed territory and the end result was that Mexico ceded a large territory to the United States and its size was reduced by forty-five percent. The land Mexico ceded to the U. S. is now a number of states: Nevada, Utah, Arizona, and California. The military government in Mexico received fair compensation for the territory. The treaty of Guadalupe paved the way for the way for the immigration of Mexicans especially workers to the U. S. this was necessitated by the United States’ need for labor to develop the newly acquired territory. Immigration patterns have been determined by American manual labor needs. The Immigration Process The immigration of Mexicans to the U. S. began soon after the territory was surrendered, the U. S. government sought labor from Mexico to build the railroad which was to connect all the new territory to the other states. Between 1850 and 1880 the U. S. government brought in 55,000 migrant workers from Mexico into the former Mexican territories to work on the railroad. The government preferred Mexican laborers because they were not entitled to any constitutional protection and they could work for substandard wages in the harsh conditions. The process of immigration began to peak up speed in 1910 when the Mexican revolution took place. After the revolution, more then 50,000 Mexican workers immigrated to the U. S. in search of jobs which they felt were better than those available in their home country. Changes over Time Change in the immigration process began to take shape in 1929 when American citizens massively complained that the illegal workers were taking up their job. The government responded by launching major crackdown on immigrants who did not posses the relevant immigration documents. This resulted in the forceful deportation of over two million Mexican of which about one and a half million had been born in the U. S. this was harsh as those born in the U. S. were therefore citizens by birth. The U. S however found itself in a tight spot when it got in World War II in 1942 which elicited the need for Mexican workers. The U. S. acted quickly to remedy the situation by getting into an agreement with Mexican officials and this was known as the Bracero program. Under the program guest Mexican workers would be allowed to enter the U. S. and provide labor on a temporary basis though they would not be afforded the labor protections accorded to their U. S. counterparts. The program run through out the period of World War II and went on up to 1964 as major Corporations had pulled string to ensure that the laborers continued to work as they wanted to cash in on the cheap labor. Since 1964 there was what has been referred to as an unspoken agreement between the undocumented workers, Corporations and the government. The government has intentionally failed to implement border regulations after being lobbied by major corporations which benefit highly from the labor if the immigrants. Though the agreement has been said to benefit all the parties which is utterly false as the immigrant workers are subjected to poor living conditions, are paid substandard wages and do not enjoy the protection of labor unions or practices. In 1986 three million undocumented Mexican-American workers were granted amnesty by the Reagan administration and this consequently made them subject to human rights protections, (Borjas & National Bureau of Economic Research, 2007). Effect on Chicano Movement The Chicano movement was vastly affected by the immigration of undocumented as they were not officially recognized by the U. S. government. This meant that they did not enjoy constitutional protection like other American citizen and the movement’s job was harder as attempts at demanding for rights resulted in deportation. Mexican workers therefore did not seek the help of the movement as they fear that its intervention would result of their deportation, (Rosales, 2000). Conclusion The immigration of Mexican to the U. S. began with the need by the U. S. government to have cheap labor for building of a railroad through the territory acquired from Mexico in 1850. The immigration pattern has however been tied only to the manual labor needs of the U. S. as the government allows entry of undocumented Mexican workers when they are in dire need of cheap manual labor like during World War II. The pattern is also evident from the push and pull debate that rages on the undocumented workers. Reference Borjas, G. J. & National Bureau of Economic Research. (2007). Mexican Immigration to the United States. Chicago? : University of Chicago Press. Rosales, F. A. (2000). Testimonio: A Documentary History of the Mexican-American Struggle for Civil Rights. Houston: Arte Publico Press. ESSAY TWO Some historians describe the Civil Rights Movement as a two-phase process of a southern movement to guarantee basic human rights and a northern movement focused on economic and social inequalities. In an essay, which incorporates lecture, readings and class discussion analyze this process. Introduction The Civil Rights Movement sought reform in the way the American society treated African Americans and it sought to change the perception. The movement originated in the urban areas of the south after large numbers of African Americans migrated from the rural areas and this was after the abolishment of slavery. The American Civil Rights Movement faced a number of challenges in its quest for equal civil rights for African Americans and other minority groups. This came in the form of legislation which promoted the injustices committed against African Americans by white Americans. The movement was therefore forced to employ different strategies and tactics so as to have its voice and that of its people heard. The movement suffered major losses in the road to the eventual attainment of those rights. The Civil Rights Movement refers to a reform movement of African Americans which sought to attain equal civil rights under the law for all people. It sought to have the abolishment of both public and private acts of discrimination and segregation against African Americans. The movement is said to have originated in the southern urban areas when millions of African Americans migrated from rural areas to the urban centers of the south. The Civil Rights Movement employed various strategies which included: nonviolent strikes, civil disobedience, marches, boycotts, protests rallies and â€Å"freedom rides. † The movement therefore focused on disenfranchisement and the Jim Crow laws in the south. The Civil Rights Movement in the south can be said to have been the most intense as it was in the south that African Americans faced the greatest resistance to their attempts to struggle for equal rights. The south had become the most notorious when it came to the suppression of rights of African Americans. The laws in the south permitted or required four acts of discrimination against African Americans. They included voter suppression or disfranchisement, denial of economic opportunities, private acts and mass racial violence and racial segregation which was first upheld by the U. S. Supreme Court decision in 1896 in the case of Plessy v. Ferguson. It was also in the south that most of the milestone events in the civil rights movement took place in the south which included the: Martin Luther king Jr. assassination, march on Selma, Alabama, Mississippi freedom summer and the Montgomery bus boycott. The south was also home of some of the most important literature to come out of the Civil Rights Movement like Dr. King’s Letter from Birmingham jail. It also home to important Civil Rights Movement landmarks like the Martin Luther King Jr. National Historical Site. The latter also house a museum which chronicles the American Civil Rights Movement. The challenges of the movement in south emanated from the legislature passing of the Jim Crow laws which legalized segregation in all public facilities. This law meant that African Americans and other non-white citizens were designated different facilities this includes: lavatories, buses, restaurants, housing establishments among others. These went on to be adopted by most local government across the country and this turned to be a major challenge to the Civil Rights Movement. It was the successes of the Civil Rights Movement in the south which made life better for African Americans all over the United States. The civil rights movement culminated in the passing of the Civil Rights Act in 1964 and the Voting Rights Act in 1965 but of which were a clear symbol of the success of the Civil Rights Movement, (Williams & Bond, 1988). Conclusion Despite the major challenges the American civil Rights Movement faced, it managed to succeed in its cause because of its strategies, sacrifices and it resilience. Some of the sacrifices the movement had to contend with included the loss of one of its leaders, Dr. Martin Luther King Jr. who was assassinated. Though this was a major blow the movement managed to remain resilient and it was rewarded with the passing of the Civil Rights Act and the Voting Rights Act in 1964 and 1965 respectively. The fact that most of the Civil Rights Movement events took place in the south does not mean that the northern part of the country was not involved as activities like the march on Washington took place in the north. The march was the venue for famous â€Å"I Have a Dream† speech by Dr. Martin Luther King. The civil rights movement therefore came along way to achieve success. Reference Williams, J. , & Bond, J. (INT) (1988). Eyes on the Prize: America’s Civil Rights Years, 1954- 1965. ISBN 0833514318, 9780833514318: Bt Bound

Differences and similarities between the British and the Norwegian Term Paper

Differences and similarities between the British and the Norwegian school system from a perspective of social structure - Term Paper Example Norway, a limited monarchy with a parliamentary democracy has adopted an education system that is reflective on its social ideals and the nature of administration in the country. In this paper, the education structures of England and Norway will discussed from a social perspective, providing the significance of each, the similarities and the differences (Aldrich, Dean & Gordon, 2013). Schools provide an exemplary example of a social setting made up of the teachers, the students and the school administrators together with the parents whose roles are to shape the educational experience of students. As a result, the structure of schools in England and wales attempt to understand the social dynamics of the learning environment and the roles of the key stakeholders. The informal organisations of schools in these countries are influenced by the size of the students’ population and its homogeneity. The social structure of schools is therefore influenced by a number of factors which are dependent on the social arrangement within the countries. Factors such as age, the grade levels taught and the training program for educational and the roles of the parents influence the nature of the structure (Kehm, Michelsen & Vabo, 2010). England and Norway have different school structures with both beginning from early childhood education all the way to universities with different years in between. In England, the education structure is divided into five with early years, primary, secondary, further education and finally higher education, taking at least 15 years to complete. Since 2010, England introduced a compulsory early childhood education for kids aged three and four years, a program that is coordinated and funded by the government. As a result, the kids are entitled to at least 15 hours free nursery education for 38 weeks in every year until they are ready and

H. R. 3 No Taxpayer Funding for Abortion Act Essay

H. R. 3 No Taxpayer Funding for Abortion Act - Essay Example At present, the law allows federal funding to support abortions albeit, in certain critical situations, such as rape or incest or cases where the life of the woman in questions, is in danger on account of complications arising out of pregnancy. The recent change is likely to repeal health care reform and permanently put an end to publicly funded abortion in the U.S. - regardless of whether it is a direct funding or via tax credits or any other similar subsidy. The No Tax Payer Funding for Abortion Act, seeks to restrict the all the public sources of funding such as the health insurance providers (like Medicaid) as well as other private insurers, who will be penalized for offering finance for abortion or other similar reproductive health coverage (Care2, 2011). This No Tax Payer Funding for Abortion Act, is a harsh and extreme measure taken by the pro-life supporters, which could critically damage the opportunities available to women by eliminating all coverage of abortion, including private insurers. This paper discusses the impact of such funding restrictions on women’s health; the role of nursing; and proposes changes by way of recommendations. Statement of purpose The H.R.3 Act seeks to restrict the publicly funded abortions across all states, including the ones funded by private insurers, by levying heavy taxes on those providing finance for such purposes, against the federal regulations. This paper opposes the current amendment and suggests recommendations for change, which are in the larger benefit of the society, and particularly women. Importance of the issue Restrictive funding for abortion is a tricky issue with several far reaching consequences on the social life and health of women. The fact that unplanned / unwanted pregnancies are a matter of serious concern with regard to public health cannot be denied. Various deaths are recorded annually on account of unsafe abortions worldwide leading to the issue being given prime significance in the h ealth policies of nations. The national laws and regulations have a direct and grave impact on women's health, since their access to safe abortions is heavily dependent on the national health policies. About 61 per cent of the world’s population lives in countries who have a safe and unconditional access to abortion while the rest have access to abortions with certain pre-conditions. Studies have shown that restrictive national health related laws, often culminate into issues of inequality, putting the lives of minority populations and women of color into vulnerable situations and at high risk of sexual violence (Crane & Smith, 2006). In countries where funding for abortion is restricted, leads to women turning to unhealthier options, leading to further deterioration of their health and safety. Women who are victims of sexual violence and unwanted pregnancies are liable to receive prompt and safe access to counseling, medical facilities and compassionate services, and any cha nge in the provision of health services, where the laws are made stricter, would lead to a poor and weaker public health system (Levine, 2007). The health of women in dire need of abortion, either for health or socio-economic reasons, will be endangered purely on account of political disapproval of medically essential facilities. It is on account of these reasons that the issue of abortion and

Evaluation of legal and ethical impacts on quality and access to Research Paper - 1

Evaluation of legal and ethical impacts on quality and access to patient care in managed care practices - Research Paper Example f both state and federal standards with regards to the healthcare industry and by analyzing the key trends that exist within the industry as a function of seeking to hire or contract legal expertise and advice to the requesting entity (Lynk et al 2008). Such an understanding is useful for the purpose of this proposed research due to the fact that the author hopes that by proving that a verifiable link exists between the level of legal representation within the industry and the level and quality of care provided, the researcher will be able to demonstrably prove that this is a key determinant within healthcare and its overall improvement and offerings to the end consumer; both within specialized fields such as secondary care and elsewhere. Similarly, the second work of scholarship that this brief analysis has chosen to review is that of the National Academy of Sciences, â€Å"Legal Issues in Quality of Care Oversight in the United States: Recent Developments†. As such, the piece seeks to track the level of legal changes that are manifesting themselves throughout the United States while at the same time seeking to analyze how, if at all, these changes are providing for an increase or decrease in the quality of care (Jost 2003). As a means of measuring this, the authors set out to approach the issue from both a legal requirement standpoint as well as one of economic sustainability; much the same as the one which has been utilized in the first article that has been reviewed. It is of course the intention of this author that this piece, as well as the proceeding piece will help to draw specific levels of analysis with regards to the levels that current and past legal obligations and their subsequent implementations within the field of healthcare have affected the quality of care provided. It should be further noted that the authors of these pieces have stated that the economics of further regulation and legal obligations that the current environment necessarily

Curriculum Development for CTE Research Paper Example | Topics and Well Written Essays - 750 words

Curriculum Development for CTE - Research Paper Example The program ensures that it offers the necessary skills and certificates that students require in their careers. It contains a set of the curriculum which is structured to reflect on the basics that are taught during technical training of students. The printed materials used in the CTE program fully match the training requirements because they are in accordance with the syllabus so as to enhance cohesion and understanding of the basics by the students. The students passing through this program highly benefit from the verse academic and technological resources presented by the institutions offering this program. This is because they gain the much needed first hand information on the basics (Wang & King, 2009). The equipments used in the CTE program are always technologically updated to ensure that the instructors teaching the program curriculum finds them efficient and effective to them and the students. This exposes students to the technological world and ensures efficiency upon sitt ing for the real classes. In most cases, it is the government that takes sole responsibility of sponsoring the CTE program for economical purposes. This enhances efficiency on the part of the instructors as they have all the necessary materials; on the other hand, it takes the burden away from private individuals who are out to make profits, and to make it an affordable to every student. Its aim is to bring change in the educational subjects that are of immense importance to the economy. They aim at imparting students with such skills like engineering and medicine which are of meaning to the expansion of the economy technologically (Wang & King, 2009). Reflections To evaluate the CTE program, the outcomes for the program must be measured for accuracy. This can be done through a survey, by conducting a research using a questionnaire to investigate the student remarks, or a sample research where samples of students are asked and data approximated. The CTE curriculum is aimed at helpin g students to acquire the basic skills through a clear organized and reflective program, which is its main purpose. The CTE program has tremendously assisted in my education because to a certain level the resources provided by the program have simplified my academic work, hence the accomplishment of school work accurately, efficiently, and effectively. My technical institution is a beneficiary of the program, and I get the privilege to access various academic resources provided for the student’s purposes. These academic resources have boosted learning and grades in school. Initially, most students could not attain the results which were essential in taking a CTE course, but with the changing times, majority of the students in technical institutions have registered for CTE courses. An example is, before I was enrolled for a CTE course, I experienced certain challenges that denied me an opportunity into the program. The most significant was my geographical area. It turned out t o be one of my nastiest nightmares because the district I came from did not benefit from the program, since it was inaccessible due to a variety of reasons. In my view, all CTE programs should be incorporated to enable it maintain its viability in secondary school education in technical education. The program largely contributes in such fields like