I am lost without Chris

What can female contribute to this world

2010-10-13T21:36:00.002+01:00

This is cited from the Economists. As its title shows, the richest women in the world. In some countries, female has been discriminated for decades because of the religion. But what this stat really wants to demostrate is women can have tremendous success in the world.

SUMMARY CHAPTER 8

2009-11-07T21:56:00.002Z

4.1 RECOMMENDATION

2009-11-04T20:44:00.005Z

The company should go to the crisp market because Barker Ltd is not in a good financial position,because the low return on capital employed is considerably small and from Acid test ratio(0.3:1)shows the poor liquidity which may brings cash flow problems.Long run loans occupied 50% of the total capital employed,it exists risks.If business entries the market,they may cover the drawbacks,also the high level of possibility of success may bring more profit even though it is romaily`s market plan which can not be representative and over optimistic.Because the company`s USP gives the good information to consumers and may bring a lots of consumers as it is a niche market leads to the demand is inelastic and company can have more revenue.Cost on market research and product design are both important to analyse the market,innovate the products and extent the products range.However,the barriers of entry is high as 83% of the total market shares have constituted by 3 large firms,it can be a difficulty for moving into the crisp market.High loans should prepare to pay the interest.

Deeply Analyse"Durva Drinks Ltd

2009-10-13T16:23:00.001+01:00

comment on DRAGONS` DAN

2009-10-10T16:34:00.003+01:00

The people who discoverd the product is asking for 80000 investment and it constitutes 15%of the shares,therefore we can calculate the total asset is 533333 which is quite enough.And the dragon who asked more,and entrepreneur promised 35% of the shares which might be 228571 and the quickest in the market,develop the market range,finally,got the offer.Another dragon who gives the 5% each year 5 years.
The entrepreneur is 19 years old who finished A-level,also had the experience doing export and import between China.

In my personal opinion,the idea is quite good,but I donnt think it has a market in China,even exporting products to China,on the one side,it might be less competitive compared to the similar products in China,and asking 80000 which is large amount of money,most of the retailers in UK such as WHSMITH prefer the products produced from China.

RATIO

2009-10-08T01:13:00.003+01:00

ECONOMICS

2009-10-04T21:04:00.002+01:00

INCOME STATEMENT

2009-10-04T15:49:00.001+01:00

it helps me a lot!!!!!!!!!!!!!!!!!!!!!!!!!!!!FROM MICA

2009-10-01T23:56:00.001+01:00

FORMULA ABOUT BALANCE SHEET

2009-10-01T23:08:00.003+01:00

total asset:non-current asset+current asset
total liability:non-current liability+current liability
net asset:total asset-total liability
net value(net asset):non-current assets+working capital(net current asset)-non-current liability
capital employed:net assets+non-current liability
non-current assets+working capital/net current liability
total equity+non-current liability
current assets:inventory+receivables+cash and other cash equivalents
working capital:current asset-current liability
asset employed:net current assets+non-current asset=capital employed

assets=liabilities+equity
annual provision for depreciation=initial costs-residual value/expected lifetime

BALANCE SHEET

2009-10-01T22:08:00.000+01:00

"7"

2009-09-29T16:03:00.005+01:00

A supermarket decides that it will open as normal on Christmas Day.

Generally speaking,as a consumer, I strongly anticipate that there are lots of shops or malls opening on Christmas Day with attractive decoration.However what will it influence the company?There are three sides which should be taken into considerations.

Consumers:

In most western countries,Christmas Day has the same treatment with Spring Festival in China,people are definitely hang out with family or friends celebrating this paramount day.A majority of consumers wish to shopping with friends and enjoying the Christmas atmosphere during shopping.Therefore,the demand on this special day will increase with an unexpected rate.Consumers will expend more than in normal days.

Company:

As I said before,the demand on Christmas Day will be inelastic and increased sharply,it is an vital opportunity for most of the companies to open as normal in order to meet the high demand,as a consequence,getting more revenue during the day.High percentage of the businesses survived only because they take well advantage of the particularly high demand in certain days,and become competitive among thousand businesses,at the same time because of the high demand,most of the companies reduce the prices of the products in this certain days as a strategy to have more quantity sold.Probably,they sell the products which is out-of date but will receive a good result,because of the demand for the products and high profits.In the real world,on Christmas day, most of the businesses prefer opening rather than closing.

LABOUR:
Labour is the greatest and the most valuable assets in the company.In this case,assume the business opens on Christmas Day,they should pay labours extra money,because they work more extra time on Christmas Day,which they are not supported to do.If the company is not following the law,they may be sued by the trade union.However,labours may feel lonely and demotivated,it leads to the low productivity but sales may not increase and cost is high but the company have to pay the extra money may be more than working days to the labours even though the productivity is low,therefore the company should think about it or taking other choices,such as employ part-time labours but the problem for them is hard to training them in a shot time period.

8 short tips

2009-09-29T15:02:00.005+01:00

1.liquidity:the ability to convert an asset into cash without loss or delay.

2.Gearing: focuses on long-term liquidity and shows whether a firm`s capital structure is likely to be able to continue to meet interest payment and to repay,long- term borrowing

EQUITY:funds provided to set up the business,fund expansion and purchase fixed assets

3.DEBTORS COLLECTION PERIOD=debtors/sales *365

4.creditors payment period =creditors/purchase*365

5.average stock:is the average amount of stock stores in the warehouse

stock turn:it is the cycle of the stock by a period of time

6.ROCE(return on capital employed:is a measure of the value of the profit over resources used by business

return on capital employed:operating profit/capital employed

7.GP (gross profit):the revenue minus costs of sales.The gross profits shows how efficiently a business is converting its raw materials or stock into finished products.

8.NP(net profit): net profit is calculated by subtracting a company's total expenses from total revenue thus showing what the company has earned (or lost) in a given period of time (usually one year). also called net income or net earnings.

Moving to China

2009-09-23T20:12:00.009+01:00

"APPENDIX A"

1.80%of all employees are in the union membership,the problem is that the a majority of the labour may ask high wages if necessary, it can directly impact the fixed costs and push up the total costs which might bring the negative effects to the company profits and liquidity,also high costs may lead to cash-flow,shortage of demand for example.Problems which can be a dangerous situation for company in a long-term run.

2.Compared to the annual pay of factory between CELLTON FACTORY and IN CHINA,salary paid to the labour in CELLTON FACTORY is 9-fold to in China,which is a good news for shareholders and investors who want to relocate the factory in China in order to gain a high level of profits.For shareholders,they may get more dividend with high level of growth in profit return,their shares can be more valuable and they can sell shares at a high price.And both of shareholders and investors are motivated when they receive the profit return

"APPENDIX B"

3.Net present value shows the positive figure at 5.7m,and this is a quite big value for the company(Net present value is the value which the company may gain in the future transfer into the current situation),+5.7 represents the meaningful situation of the economy for the company and it will encourage not only labours but stakeholders to achieve the objectives.Labours may be motivated as a result increasing the productivity and reducing the unit cost and the company will become more efficient and competitive.

"APPENDIX C"

4.Even though both sales revenue and net profit indicate the increasing trade 15% and 5% respectively.However it is evident the increasing of the net profit is one-third of the sales revenue,it may tell us the cost is increasing at the same time.The net profits may increase at a increasing costs,and increasing in costs may higher than net profits,which can be a problem to company

5. Capital employed(measured of the value of the resources used by a business) is 500m.It shows a large amount of money spent on resources,the resources are valuable and it indicates the price of the products are likely t be high,because of the resources/materials(variable costs) is high.High price may affect the demand for the products.

"APPENDIX E"
6.Compared the two line graph,it is clear that factory in China(450) gets the break even earlier than in CELLTON FACTORY(600).It will reduce the risks for the company and make the company safe(marginal safety).Capacity in China is greater than CELLTON FACTORY with 1000 and 800,the benefit for this is the company may get more profits because they have the ability to produce more,and can solve the emergency situations like if there is a high demand in a short period of time,the company with high level of capacity may overcome the problem quickly and flexibly.
Also,we can see that the variable costs in China is 18.5,which is lower than in CELLTON FACTORY with 25per unit,it means the variable costs of every product produced in China saves 6.5,if the company produce same quantity of products in both factory,the costs of the products produced in China will lower,therefore the company in China,can have such pricing strategy such as loss leader(which set a considerably low price in to the market in order to break the order of the market)and keep the price to gain more profits .They sell the same price to retailers which means that the company may gain more profits in China because of the low variable costs and fixed costs in China...

tired........

Not moving to China

2009-09-22T22:59:00.010+01:00

1.The context indicates than HURBANK which produced luxury clothing and accessories.This can be a point which supports the main argument.Because,to be honest, according to the background of China,the level of development is not increasing as much as we expected,compared to other developed nations.Selling luxury products might be suitable for high level of consumers in China which only constitutes under 10%of whole population,therefore,producers may not sell as many as they expect,and the profit can not be satisfied as a consequence,it is a risk to sell luxury products in China.

"APPENDIX A"
2.Said that the labour productivity compared to five years ago is increasing by 40%,which shows the positive number,we can`t compare this figure with China because there is not data shows the productivity in China,but we know it is a good situation for CELLTON FACTORY.labours` satisfaction can be a factor which resulting in the increasing the productivity and because labours are satisfied with their works,it can reduce the labour turnover which can reduce the company additional training costs and increase the morale around the company affects the increasing in productivity.Absenteeism can relieve as well,it directly has correlation with the quality of the products and profits,as the absenteeism reduced,the quality of the products can be improved sharply which makes more profits for the company.high level of absenteeism can cause delay the production and machines may be depreciated and out of date over times,it can lead to high variable unit cost and less profits.

3.The shirts returned is almost none in CELLTON FACTORY compared 1%in China,it may illustrates the products`quality produced in CELLTON FACTORY is higher than China,it related to the reputation of the company (which is intangible asset)and loyalty of the products,the quantity demanded might be inelastic if the company has good reputation.Consumers may have loyalty to your company`s products because of the level of quality.If the elasticity of quantity demanded is inelastic, the company can rise the price if necessary and consumers may still expense as before,it can relate to the high dividend to shareholders.

"APPENDIX B"
4.The relocation costs in China is 22m,which is incredibly a huge amount of money,and it is also a risk for shareholders and investors.High fixed cost can level up the total costs,profits may reduce and even may get a loss,and small scale business can not afford this amount,if the company decided to relocate to China,the way where to raise this finance is problem. If borrowed from bank as a long-term loan, the high interest should be taken into consideration,and such non-current liabilities should be accounted into company balance sheet.

5.Lead time to retailers in CELLTON FACTORY is 3 weeks less than in China,it impacts on retailers,it may reduce the costs of the products supplied because the retailers may more happy about the high efficiency of the production and reducing the wastage to reduce the unit cost.

6.The change in the value of the pound relative to the Chinese currency is -18%,which show than there is a increasing to the value in China,oversea companies may costs more to achieve the same amount of money in 10 years ago,it can demotivate the investors and shareholders to put money in China,and the costs are higher than before in transfer into British currency,as a result,the profits they earn are much less.

"APPENDIX C"
7.Both sales revenue and net profit for the ending 1 June 2008 increased 15% and 5% respectively,compared with the previous year,and net profits shared one-third of the total sales revenue,which is considerably high,it shows how successful the company,it also shows how potential the company is relevant to the sustained increasing in SR and NP.

SUMMERY "USING OBJECTIVES AND STRATEGIES"

2009-09-19T01:06:00.006+01:00

Objectives:the goals or targets should be achieved in order to realise the aims of the organisation.
Corporate objectives:the goals of the whole organisation.(coordinate the business and to give the sense of the direction)
Functional objectives:the targets of each of the functional areas of the organisation based on corporate objectives.(ensure that authority can be delegated without loss of coordination)

Relationship between corporate objectives and functional objectives:
--SURVIVAL:functional objectives are to assist the business to be survival(For example:choosing the appropriate stock in order to reduce the waste of the raw materials and it will increase the profit per unit)
--PROFIT MAXIMISATION:functional objectives will assist the business will its profit(increase capacity utilisation,makes the capacity efficient and reduce labour turnover and absenteeism)
--GROWTH MAXIMISATION:increase the share to increase the finance,and expand the market if necessary and more training programmers)
--DIVERSIFICATION:develop niche market to order to provide additional finance to overcome cash-flow problems and to achieve economics of scale(when there is a high output,the average cost per unit is lower)
FUNCTIONAL OBJECTIVES ARE MADE TO ENSURE THE CORPORATE OBJECTIVES ARE MET

SMART OBJECTIVES:
S--SPECIFIC:clearly defined
M--MEASURABLE:quantifiable(should have a certain number which the business are able to achieve)
A--AGREED(achievement):the managers and subordinates are involved into the targets
R--REALISTIC:the objectives should be realistic and no conflict with other objectives
T--TIME SCALE:which the business should have the time limitation

BUSINESS STRATEGICS
STRATEGY:the long-term or medium-term plans designed to achieve the objectives

RELATIONSHIP BETWEEN FUNCTIONAL OBJECTIVES AND STRATEGIES

HELLO!EVERYONE

2009-09-17T21:23:00.002+01:00

Long time no see !!!I miss all of you so much .....xxxx
Any comment from new AS business studies and economics students is very welcome!!!!
It is the way to communicate each other and also an opportunity to improve my weakness hahaha!Anyway,I woke up ,going to continue my work!!!!

Pricing strategies and tactics

2009-04-29T22:38:00.003+01:00

Pricing strategies:are used to reach market objectives
1.price skimming:is a strategy in which a high price is set to yield a high profit margin
2.penetration pricing:low prices are set to break into the market or to achieve sudden benefit in market share
3.price leadership:involves the large companies set a market price that all small firms should follow
4.price taking:involved small firms follow the price which set by a price leader.
5.loss leadership:set a very low price in order to encourage consumers to buy other products
6.psychological pricing:to give a impression of value
7.cost-plus pricing:price set is the average costs of a product plus a sum to ensure a profit

Formula revision in UNIT 2

2009-04-29T22:17:00.002+01:00

Measuring profitability:
Two ways to measure profitability are the net profit margin and return on capital
1.net profit margin:
net profit before tax/sales

2.return on capital (invested):
net profit before tax/capital invested

Labour turnover: is the proportion of the employees leaving a business over a period of time
number leaving a business over a given period of time/average number employed over a period of time

Absenteeism:the rate of absenteeism is the proportion of employees not at work on a given day
number of staff absent on 1 day/total number of staff

Absenteeism rate for a year:
total number of days lost/total number of days that could be worked *number of staff

Unit costs:
total costs/units of output

Punctuality:
deliveries on time/total deliveries

Capacity utilisation:
actual output per annum/maximum possible output per annum

Cash flow Forecast-Budget Niche market!

2009-04-28T21:28:00.002+01:00

So tired to do blog.....anyway I should resume my blog...exams coming soon...especially business,still painful....

Today I did the BUS mock,I thought it should be fine,but actually,it isn`t...I misunderstood the last part in question 1(9marks)

Today I am going to talk about the limitations of budget,cash flow forecast and niche market.

Cash flow forecasting disadvantages:
1.Mistakes can be made in both costs and revenue
2.Unexpected cost increase can lend to inaccuracies and misleading in forecasts
3.Wrong assumption ca be made in forecast,maybe poor market research,and it will also make the forecast inaccurate.

Budget disadvantages:
1.Allocations may be incorrect because the circumstances have changed
2.the both income and costs may increased unexpectedly it also makes the figures inaccurate.

niche market cons and pros:
pros:consumers are willing to pay a high price,has demanded price inelastic

cons:lack of economies of scale may make high costs.

EXTRA WORK 1：PED

2009-03-20T09:59:00.006Z

PED:the responsiveness of the quantity demanded to a change in the price of the product.

Formula:%ch in quantity demanded/%ch in price

Notes:PED>1:ELASTIC;PED<1:inelastic:ped=1>

When the PED is elastic,if the producers drop the price,they will gain more,when they increase price,they will get a loss.

But when PED is inelastic,producers increase price,they gain more revenue,they loss profit when they decrease the price.

PED is one of the most efficient way to measure economy and market,and there are several important factors :

1.substitute:

Substitute,we can simply treat it as competitors,If a lots of producers produce the same kind o produce.Its quantity demand is elastic,the more substitutes,the bigger PED number are.Therefore,substitute is a main factor which can affect PED.

2. income level:

If there is an increasing in consumer income,the demand may increase,because people have more income than before,it may encourage people buy goods and services.But the problem is people may buy demerit goods,such as cigarette,which has negative efforts on the third parties,cause market failure,and in order to get more profit,producers may over produce demerit goods,make market failure even worse.At last,government may increase taxation to correct it closing to MSC

3.Time:

If there is a new product selling today,people may buy it,as it`s fresh goods,and want to try it.Demand may increase sharply,but....after a period of time,the demand for the product may decrease and keep remain..

4.Taste:

As I said in 3,time is a factor which might affect PED,taste is same as time,after a new product is introduced into market,people are eager to buy it,but different types of people have different tastes...after a period of time, demand for the product may decrease a lot,because of the different tastes.

5.Economics problems:

we know UK economy has deeply recession.People don`t want to expend,the demand for specific(people want but don`t need to buy)goods may decrease, because people may not need it for their normal life.So they don`t have to buy them when there is an recession.

ECO 18th Balance of payment

2009-03-18T19:48:00.005Z

Balance of payment:a record of money flows coming in and going out of a country.

WHAT IN BALANCE OF PAYMENT?

1.trade in goods

2.trade in services

3.net flow investment income

4.transfer of money

Trade deficit:money going out is more that money coming in

Fashion laptop carry cases

2009-03-18T01:26:00.003Z

This product is about the laptop carry cases,it is not a new product for us,but the point is it`s fashion and especially for female.It`s easy to understand why more product aimed to female,these product has different attraction points,as for this product,it has slight difference,separated into cold colours and warm colours.And different type of bags are for different size of the laptops.

Pink might be the most popular colour for female,as same as white...they are both attractive colours,it might attract female...

They also provide mini cases,which can just put a small size laptop into it,it might useful,because it is easy to carry,good advantage for females.

But I don`t think it is new attraction product....the reason...

Firstly,when you buy the laptop,you may get the laptop case for free,so people may not buy a new one for fashion.

Secondly,lots and lots producers have already realise this kind of market,it doesn`t make any big innovation about cases...people have more choices....

NEXT,as I know so far, some luxury brands has this kind of product as well,it makes this product has less competitive,people prefer to buy expensive,high quality,well known brands product.Even though your product is better,people won`t buy it....

Also, the price is not acceptable for mid-level income consumers,it`s a limitation.

Eco 17th Macroeconomic and TAX

2009-03-17T21:29:00.002Z

Macroeconomic equilibrium:

TAXes:

The money which government use to improve health,education,and sort of problems is tax

Category of Tax:

direct TAX:tax which get from the percentage of people`s income and company and cannot avoid.

As we know, people and salary monthly,but they must pay income tax at the same time.This is one way where government get the money from in order to something else to improve specific section.In China the start point is 1600 yuan(160pound),but as your income increase your income TAX will increase as well....income TAX is the one of the main TAX government used to get money from,it plays a important role in government.

Also,company should pay direct TAX as well,it is the percentage of your company profit.Big company pay thousands and thousands TAX to the government.

indirect TAX:a tax levied on the goods and services

another essential TAX is indirect TAX,which we can see it everywhere.Whenever we go shopping and buy something we may noticed that there is VAT(value added tax)a part of the indirect TAX in the end of receipt,in UK is has reduced to 15%.In some luxury goods,such as cars,clothes...etc..government will higher the TAX for controlling.As for cigarette,UK government has higher the TAX,the tax is even more that cost.Furthermore according to the elasticity if higher the TAX on cigarette ,consumer will pay more(inclasticity) the reason why government do that is because it cause negative externality(which affect third parties)it is harmful for our normal life

But it`s not easy to control people not to smoke by using TAX on cigarette,because it`s inelasic even the TAX is high and price is increase,people are likely to buy it as normal.

Eco 17th

2009-03-17T19:59:00.006Z

1.I put comment on first-time`s blog(It`s about house price)

2.David`s economics(the bank of England on deflation)

Deflation:a sustained fall in the general price level

Bad deflation:fall in aggregate demand may result in a harmful consequence.Lower aggregate demand will cause business firms to cut back production.It may cause unemployment ...Also might influence a country`s economy growth...

Good deflation:a fall in price level arising from cut costs of production to stimulate cosumers expending,supply will shift to the right,therefore more and more producers may have satisfying profit from deflation.Moreover productivity likely to rise as well....so we know that the output is growing.Country`s international competitiveness increase gradually.

3.Economics teacher`s blog:

ECO 16th

2009-03-16T23:17:00.004Z

PPC(production possibility curve:show the maximum quantities of different combinations of output of two products
Opportunity cost:the next best alternative foregone
Elasticity:the extend to buyers and sellers respond to a market conditions
Unemployment:people are out of work but willing and able to work
Inflation:a sustained rise in the price level
Economic growth:an increase in real GDP,in the maximum output that the economy can produce
Exchange rate:the price of one currency in terms of another currency
fiscal policy:the taxation and government spending decisions of a government
monetary policy:decision on the interest rate the money sullpu and exchange rate
supply-side policy:policy to increase aggregate supply

AD:the total goods and service in period of time

AS :the total amount that producers in an economy willing and able to supply

Result...

2009-03-16T18:40:00.002Z

I finally got AAU in 3 exams.....
I can`t believe I got U in business studies.....
nobody knew what did I review for business...except my mother...
But...everything has gone.....

Really should do something.....

McDonald's warns of revenue drop

2009-03-09T20:58:00.002Z

McDonald's`s--one of my favorite fast-food brand,which I know big mac meal is 3.89 with large coke,large fries and a big mac burger.

Even though the whole world economy downturn,but MC does`t be affected that much.Because they have lower price and good market share and market size all over the world.

MC is elastic,it has more competitors, KFC is a good example,so if their price is lower than KFC,they will gain more.People are likely to buy cheaper goods during the crisis when the two fast-food companys produced same food.

But from the latest figure shows that there is 1.4% sales rise in FEB 2009 but compared with an increase of 11.7% in February 2008,it may tell us something.....

Experts said as the US currency is stronger and the commodity costs will squeeze its first-quarter,so we know there is a little rise in FEB 2009 but can`t compared with 2008...

After all,MC still is one of the famous brands is the world,we can image MC will do a good work during downturn when other brands have financial problems

ECO unit 1 review:YED

2009-03-08T17:53:00.003Z

DEFINATION:the responsiveness of the demand for a product when a chenge in income

Formula:YED:%change in demand/%change in income

normal goods:have positive income elasticity

normal luxury:income elasticity is grerter than 1 YED>1

normal necessity:income elasticity is less than 1 YED<1

Inferior goods:have negative income elasticity

ECO review:tax ......demand

2009-03-08T17:02:00.007Z

From the chart we can obviously see that when the demand for a product is elastic,and we draw the supply curve with tax.The supply price is higher(p1-p2),producers pay more,and quantity for this product is lower than before(q1-q2)

In this case,when the demand for the product is inelastic,supply price is higher with tax (p1-p2).Consumers pay more,and the quantity for this product is decreased,but not as same as when the demand is elastic.

ECO unit1 review:PED

2009-03-07T20:23:00.008Z

Defination:the responsiveness of the demand for a product following the changing of the price.

PED=0(perfect inelastic)
It tells us whenever the price increase or decrease,the demand for this product doesn`t change.

PED=1 (perfect elastic)(unit elastic)

whenever the demand for a product change,the price of the product doesn`t change

PED:0-1 (inelastic)

From the chart we know if price increase(p3-p2),the retailers gain more....however,if the price fall(p2-p3),retailers lost more.

PED>1(elastic)
if the price increase(p3-p2) retailers lost more,price decrease(p2-p3) retailers gain more.

Formula:PED=%change in demand/%change in price

WHAT WILL AFFECT PED?

Any substitutes?
Period of time
Taste
Peak and off-peak demand
Income
Inflation
Economy growth
TAX

WHAT IF INCOME GOES UP?

the demand curve might shift to the right from d-d1,the price will increase from p0-p1.

EURO......same conclusion

2009-03-05T20:42:00.007Z

The European Central Bank (ECB) has cut its key interest rate to 1.5% from 2.0%, the lowest since it started setting euro rates in January 1999.

As US and UK...Euro zone has also be affected by whole world economy crisis,as we can see from he chart,the interest rate of Euro zone has fallen down to 1.5%.It looks probably different from UK,but essentially,they are same....

1999,when Euro interest rate started setting to 2000,the interest rate has moved up from 2.5-4.5%,this situation might tell us that Euro is stronger that US dollar....Euros become more competitive.It has positive circumstance.

And from the start of the 2006 to end of the 2007 the interest rate had increase again...from 2-4%(SAME AS UK)

But from 2008-2009, it had jumped rapidly and incredibly....the economy crisis became more dangerous for a country`s economy...especially for capitalist countries and developed countries...

"Reduce interest rate"more and more countries which has been impacted by economy crisis and credit crunch is using this economy policy to help native economy and hope it will gradually recover ...but it`s not depends on the government, UK has published the policy before EURO ZONE,but it`s not efficient...more people are still waiting for what will happen next....

Fortunately,the economist said that such problems will be come over,moreover,the economy will recover and increase....

Canada 0.5%

2009-03-04T22:21:00.008Z

Canada's central bank has cut its key interest rate from 1% to 0.5%, a record low.

Incredible......I even can`t believe it.Before I saw this news,I knew than UK economy has been impacted deeply,and in order to recover from economy crisis,and to encourage demand, government published more and more acceptable policy...one of those is to dercease the interest rate to 1%.

But Canada government published this policy,so what might happen in the future?

Demand:as the interest rate goes down to 1%,it is more likely to encourage consumers to expend more money on goods and services.Furthermore lower interest rate might also encourage people to take a short or long-loan to start a business(might not )or pay for the mortgage.In conslusion,the aggregate demand will shift to the right....

EXCHANGE RATE:the main key point---exchange rate, the related to the interest rate,if the interest rate goes down, the exchange rate might fall,therefore it is cheaper for the exporters and more expensive to the importers,it may have a balance of payment surplus(if other factors are equal,the GDP will increase???maybe ...we will talk about it later...)

I/X:as for the import and export.Firstly let`s think about import,because of the low interest rate,people are more likely to buy....but we don`t know whether it is made in China or someoneelse...

G.S:reducing interest rate also will affect the government spending to increase the financial support like subsidy to the small businesses,help car industry or nationalise the bank...(like Uk)

TAXATION:the VAT tax will fall ....encourage consumers...and tariffe,another kind of tax,might reduce...to fit for the demand...

SAVING:definitely will goes down...

AFTER ALL...let`s think about GDP?will it increase?

IF interest rate...fallen,

government spending increase(if others keep equal):GDP increase

consumption increase(if others kep equal):GDP increase

investment increase(.....):GDP increase

export>import(...):GDP increase

BUT!

IF interest rate ...fallen

the taxation decrease,government gain less from tax,the government spending decrease(...):GDP decrease

investment might not support the CAN`s economy because it`s risky,and can even get profit...

investment fallen(...):GDP decrease

HSBC announced 12bn share sale

2009-02-28T20:32:00.004Z

Europe`s biggest bank-HSBC announced to have 12bn share sale

Why HSBC made this decision?

As the whole world economy downturn...some of the banks have suffered from it,and it`s prolonged problem.More banks found out more ways to solve it,such as got subsidy from the government,sold share to the government and may bought it back after the crisis or merge...

But in this case,HSBC asked to sale shares which might not happen in other banks .The reason is HSBC is Europe`s biggest bank,it has basic number of people who has account in HSBC which might deteminate HSBC made this decision.After HSBC start to sell its shares, more and more people might buy it rapidly and buy as much as they can afford,therefore HSBC can get more financial support and be in an positive circumstance.

Also,get more financial support means become competitive,therefore it has more possibility to resist suck economy crisis

So....it might be a good decision....

Northern Rock

2009-02-23T19:42:00.003Z

Rock to revive mortgage lending.....
which might be a good news to UK economy.
In order to get extra money from the taxpayer,Rock has revived the mortgage lending.
Rock also published the 1.4bn loss for 2008.

Is it effective and efficient?we don`t know, but it is a part of the government policy
It might be a good news to consumers recovering from crisis especially,Northern Rock`s consumers.
But the treasury also need to provide an extra 10bn in taxpayer money to the bank...

ECO summary:exchange rate

2009-02-17T13:49:00.003Z

EXCHANGE RATE:the value of a currency in terms of what it can buy of other currencies.

WHAT FACTORS MIGHT AFFECT EXCHANGE RATE?
-the price of /demand for imported goods and services
-the price of /demand for exported goods and services
-aggregate demand
-the growth of real income output in the short term
-the rate of inflation
-employment/unemployment

WHAT IF STERLING VALUE GOES DOWN?
-import price goes up
-consumer price index
-export does goes up
-strong AD -inflation

STRONG POUND?
-low import price,more import
-high export price,less export
-less inflation
-strong PPP

ECO summary：ECONOMIC GROWTH

2009-02-15T13:32:00.004Z

Long term economic growth requires:

-increase productivity

-improvements in production technology

INCREASE AD:

-higher consumer expending

-increase government capital investment

-increase government spending in goods and services and reduce tax

-increase export

-reduce import expending

SUPPLY-SIDE:

-higher productivity

-increase input

increase labour supply

increase stock capital input

-technological advances

innovation and invention

reduce unit cost

higher AD and a rise in LRAS

short term changes in sras

RISING AD

ECO summary：balance of payment

2009-02-15T12:41:00.003Z

what are included:
-trade in goods
-trade in services
-investment income from UK overseas assets
-transfer of money between people and government
trade goods -transfer of money =comprises the current account

actual GDP>potential GDP:positive output gap
actual GDP
AD:C+G+I+（X-M)

EXpenditure reduction:
-higher interest rate
-higher tax

Half time business homwork

2009-02-13T19:23:00.007Z

Market mapping:selecting the key variables that differentiate the brands within a market and then plotting the position of each one

Market segmentation: analyse the market the identify different types of consumers

Brand positioning: The distinctive position that a brand adopts in its competitive environment to ensure that individuals in its target market can tell the brand apart from others.

Advertising elasticity:measures the extend to which change in ADspending affect demand (%change in demand /% change in ADspending)

Cash flow: the difference between incashflow and outcashflow

Loss leader:product sold at less than cost to attract consumer to a product range

Adverse variance: this is a change from a budgeted figure that leads to lower than expected profit

Net profit margin: net profit which is a percentage of the sales revenue

Organisation structure:the relationship between different people and functions within an organisation

Off the job training:away from the place of work

On the job training:learning by doing the job

Person specification:which kind of person the company will employ

Induction:is an introductory training programme designed to familiarise new recruits

Empowering employees:person who has the power to do the job

Job enrichment:is where the job is expanded vertically by giving the worker more responsibility

Job enlargement:expanding the number of tasks completed by an employee

Capacity utilisation:is the percentage of a firm`s total possible production level that is being reached

Rationalisation:reorganising resources to cut costs

Quality control:this is based on inspection of the product or a sample of products

Quality assurance:this is a system of agreeing and meeting quality standards at each stage of production to ensure consumer satisfaction

Productivity:output per person per a period of time

Product portfolio analysis:analysing the existing product mix to help develop a balanced range of goods and services

Price taker:a firm which sets its prices at the same or similar level to those of the dominant firm in the industry

Deep recession

2009-02-11T21:00:00.003Z

"The governor of the Bank of England, Mervyn King, has warned that the UK is "in a deep recession" in 2009 and said rate cuts may no longer work"

The governor of the Bank of England ,MERVYN KING today said the UK is in a deep recession...
Which is a big hurt to UK businesses.....

In my opinion,it is a even worse news compared with interest rate declined to 1%....
From the chart we can see that 2009 is the worst year,because in this year output might touch the lowest point(-6%)...which means this year for UK economy is the most difficult year ever...

So,what will it impact business...
During the recession,some business might merge,because they strong company has more probability to keep alive...but it doesn`t fit for small businesses..some of the small businesses might bankrupt...therefore powerful company may merge small businesses as they want get benefit from it...for instance,they might consider that merge a small business might reduce their raw material or have good business idea and feature produts.

The structure of the organization might be recombined:they might have
-tall structure with a narrow span of control:the advantage of using this structure is subordinates might be more promotional...the productivity might increase

-flat structure with a wide span of control: the advantage are it will reduce overhead costs(total cost)and there will be more delegation and more responsibility it also is good for the company in such awful conditions

Even the unemployment rate is high,but I think it should be a good opportunity to big company,because they can employ some workers with low salary,so it also causes reducing total cost

Government support:In this situation,government may not help any of the small businesses,it`s risky,however the banks might be asked to sell shares to the government,it is a way government support the banks

Shareholders:shareholds might get loss ....

tourism:people may stay at home instead of going abroad....

X/M:import might expensive,export might cheap....

But the forcast said that this situation will recover from 2010....is it ture?....

Interest Rate:1%

2009-02-07T11:47:00.004Z

Yesterday, Bank of England published the latest Interest Rate....cut 0.5% to 1%.

It reveals UK is suffering the deeply strike from RECESSION....

From the chart we can see that 1% is the lowest point ever since 1951.Interest Rate never below than 2%.But because of the recession,credit crunch,high rate of unemployment and economy crisis,UK economy become depressed...

That also affects consumers confidence.As credit crunch,people lose their confidence to borrow money,small business can`t get loan from the bank,some of them bankrupted for can`t can finance immediately....Big celebrated companies have to close a few of their multiple shops in order to reduce the fixed cost,and keep gain profit.Some of them,such as BMW,Starbucks reduce their workers to decrease the costs....

It is risky to bank to borrow money to some business firms ....

Now,the interest rate has fallen again to 1%,government want to increase consumer`s confidence,house price increase...people might gain confidence to UK economy..but not as much as before...VAT has decrease to 15% aims to want people take out the money from the bank,to expend...encourage people to buy in order to help UK economy...but now inflation is 3.3%,Which exceeded 2%.People can`t get confidence from the government policies....these policies are not really successful, people still looking on what will happen...

ECO short summary

2009-02-03T20:27:00.005Z

GDP:gross domestic product
formula:GDP=I(investment)+C(consumption)+G(government spending)+(x(exprot)-m(import))
IF X>M:SURPLUS
M>X:DEFICIT

FACTOR COST=GDP at market price-indirect tax+subsidy
NET GDP=GDP-depreciation

HDI:human development index
-real GDP per capita at PPP
real GDP is norminal GDP after allowing for inflation

-education/literacy

-life expectancy

PPP:purchasing power parity

problems with the basket of goods:
-over a period of time the contents of the basket will change
-we must allow for weighting
the relative importance of a price change for different products

shame ON YOU!

2009-02-02T22:19:00.003Z

This is Cambridge？University rank no.1 in UK？？？

Chinese PM speech AT cambridge

2009-02-02T21:25:00.003Z

PODCAST

2009-02-01T21:29:00.004Z

http://www.bbc.co.uk/radio/podcasts/bizdaily/

it is like a interview....talking about economic crisis...influenced to China,India...and other countries

China GDP has fallen down.....

Unemployment rate

2009-01-30T20:48:00.004Z

This is the chart about china Unemployment rate from 2005-2008.The red line shows unemployment rate,and the green line shows the rate of the job which is absent

As we can see from 2005-2008 both of the lines are decreasing,but the key is red line above the green line.It may told us there are some people still waiting for a job.

But green line doesn`t change a lot.....(3%-2%)it`s like a straight line.Red line changes(6-3.9) and more and more close to green line(3-1.8%).

Also, we can have a look the UK`S unemployment rate from 2006-2008.

we can see that in 2007 is the lowest point about 5% and the highest point is in 2008...or after 2008,it`s alread touch 6.2% point which is a high rate of the unemployment....and the incredible news is unemployment people are nearly 3 million...amazing number....it might because of recession.....

Compared with two countries we can see,the unemployment rate in china is decreasing...to 3% let`s assume the population is 1.3billion 1.3*3%=3.9million and the population of UK is 60 million 60*6%=3.6million....it is a big difference....actually,China has more people don`t have job even the unemploymet rate is decreasing....as for UK, 3.6m is not a big number,but for UK is sufficient.....

which is better?!

2009-01-26T20:33:00.008Z

Before......
Video games can influence on the human behaviour. Noawadays play male and female of different age, them interesting virtual life, because there thay can do what they want, no roles, no preasure from other peolpe And people become agressive after. For example female play Sims. The presence sexist stereotyping in games is hardly surprising. But it is influence on the state of mind, such as when you play you can do what you want but afterthis you want to try in the real life. There are many choices when people after game they went out and killed person or crushed something. At the real life for this you should pay, you can be arested.I think tha t after the playing games person can be change, because some of them can play all day, it is a drugs when yu try ones and cant life with out them. I think that should to influence to stop sell agressive games cwhich bring bad position. "

After I checked english mistakes and adjusted some sentences order
Video games can influence the peoples` behaviour . Nowadays, people like playing different genders in different ages in the video games,because they are addicted in virtual life and can do whatever they want without rules and pressures from other people And becoming more aggressive . For instance, girls are likely to play "Sims",the presence sexist stereotyping in games is hardly surprising,but it might influence the state of mind.When you play video games you can be whatever roles you want ,but after this you eager to try it in your real life. Here are many examples show people murdered someone else or broke up after playing game, they must be arrested and force to pay fund .I think playing games may change people personality, because some of them are happy to play video games all the days just sitting in front of the computer, it is like drugs, you can not give it up and control youself after merely try it once. I think government should intervene and ban selling aggressive video games which have negative externality. "

Personal inflation calculator

2009-01-22T20:38:00.008Z

As a piece of homework,I found this advanced software"Personal Inflation Calculator"
A poor person,such as me...here is the result.We can see the differences..
My personal inflation :1%
Official inflation :1.6%
Which means Official inflation is more than my personal inflation

LET`S see median income people(my host mother)

And finally upper income people(BECKHAM)

The difference is 0.3%,it`s acceptable number...

pixar .....enjoy

2009-01-21T20:40:00.005Z

Pixar is a strong company making cartoon...Its famous cartoon are "CARS" "FINDING NEMO",it`s quite famous...
1.lifted

2.the birds

Business article (M1)

2009-01-19T21:47:00.006Z

I have read this business article:http://www.guardian.co.uk/business/2009/jan/03/small-business-government-loan-guarantee-scheme
It is about the difficulty to borrow money from the bank,also as the interest rate is rising thus the new entrepreneurs are worried to borrow money from the bank to establish the small business.
Another reason is government support.....It is hard to borrow from the bank if there is not government support
So,banks are not always being gentle to you.......are not always suit for you

Finally

2009-01-13T18:14:00.002Z

Finally I finished the business exam.....what grade I could get? who knows...........but hopefully is a grade A..............

CHris Bus

2009-01-11T22:29:00.004Z

MR chris,which your blog you want me to see????

And I have a advise to bus stop
To provide weekend bus ticket......bucause OXFORD is a international city.Full of foreigners especially international students........so student want to go to city centre for instance,they might go to city centre for shopping more than once and may go to pubs after that.....therefore they need to take buses for their main transportation.....so,the bus company should provide a weekend ticket....the price could be 6.5pounds(compare day-pass is 3.5pounds and 2days travel)I think it is likely to have more people,international student who study in university OR EF STUDENTS to buy it.......it is a good market.......also,the bus company should have cooperations with railways`company because people want to go to LONDON at the weekends ....and they need to take bus to get there .....
And bus company should give special route for example:bicester(is it right ??it is a town where sells luxury brands clothes in cheap price.........

what to do these days

2009-01-10T14:21:00.005Z

3days to take business exam in Unit 1 ......A short plan .....

finish glossary and definitions

finish some real mock papers

.....bring black pen

1D 4D 8D

2009-01-04T17:20:00.004Z

1D....tomorrow new study-term will start
4D....MATH c1 c2 exam
8D....business exam

.....I go back home
.....I take IELTS exam
.....I send application to university
..........

HAPPY AND HAPPY NEW YEAR

2008-12-31T16:17:00.003Z

hahahaha.
Now is beijing time00:18.....2009 came.........
HAPPY NEW YEAR......HAHAHAHAHHA
Wish everybody is happy!And have a good grade in Jan`s exam.....
HAHAHAHAHHAHAHAH

13D 5D time to go back

2008-12-30T05:16:00.004Z

5D I just have a few days to prepare Math C1 C2 EXAMS..............

13D I have lots of days to prepare business unit 1 exam...............

I have submited my application for IELTS on April 4th .......

I have a plan to take part in IELTS in AUG(if I can`t get 6.5 or better)

I have a plan to take part in IELTS in DEC(if I can`t get 6.5 or better)

So.....when can I have a short break........???

ABOUT IELTS EXAMINATION

2008-12-29T14:07:00.003Z

MR CHRIS .
I WANT TO ASK YOU SOMETHING ABOUT IELTS EXAMINATIONS
I SEARCH EXAM DATA THERE IS ONE EXAM ON APRIL 18TH IN BEIJING BUT THE SCHOOL TERM START ON APRIL 14TH ....THIS MEANS I HAVE TO STAY IN BEIJING 5 DAYS MORE ....AND I DON`T KNOW THE EXACT DATA OF ORAL EXAM...MAYBE 1DAY LATER OR.......SO.....IS IT POSSIBLE TO TAKE PART IN THE EXAM......??COULD YOU GIVE ME SOME SUGGESTIONS>>>>>>>>>>>>>>>

EVERYBODY HELPS ME

2008-12-28T12:23:00.004Z

HELLO!I need HELP!!!!
I have a question about math past paper(c1,6663/01,10 WED JAN 2007)
question9,part C
I can`t show it ...I don`t know how to work out this question...

IF anybody has mark scheme`s answer or knows how to do it ,please show me in comments

THANKS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Happy Happy!

2008-12-24T14:00:00.003Z

festivalHELLO!!!EVERYONE
I just want everyone have a happy day
And
Happy Christmas Eve
HAPPY CHRISTMAS

So......no .....work .,,,,,,today...and ....tomorrow,,

21D what I did

2008-12-22T08:22:00.005Z

Friday:I read books...(business)
Saturday:Nothing
Sunday:Nothing
Monday:did some past paper(MATH)
check the mark scheme
1.2007 JUNE
2. finish and check the mark scheme 2006JUNE

I have 5 more past paper TO GO!!!
2008 real past paper
2006JAN
2007JAN
2008JAN
2005JUNE

26D internal and external

2008-12-17T14:20:00.006Z

Internal sources of finance are ones which come from owners of the business.
EX:Owner’s personal funds

income from a sale of the company assets

AD:
No cost to using this money
Doesn`t worry about the money being withdrawn.
No risk of interference in decision making by a lender
Doesn`t have to pay anything from profit which they don`t want to pay
Borrowing from friends or family rarely means interest has to be paid
Friends and family may be more willing to lend

DA:
Have limited finance to start, limited which business can purchase
New business has risk. Entrepreneur could lose everything
If business doesn`t run well, may have argument

External sources of finance are ones which come from outside of the business

EX:overdraft
loan
share capital

overdraft:

AD:

it`s flexible source of finance,you can use when it is needed

quick and easy to arrange

DA:

expensive if used for a long term or large amount
business has to have bank account

loan:

AD:

interest is fixed for the period of the loan
loan is guaranteed for the period
don`t need to give the lender a proportion of the profits earned by the business

DA:

interest is paid whether company earn
business is paying for something it no long needed

26D yo~yo

2008-12-17T13:53:00.004Z

hahaha!
What a sunny day.....enjoy...!!!!!
I have finished one mock which has two articles"Walkers`new recipe" and"Gardiner Stores plc"
completely finished...But I haven`t checked the mark scheme yet....

And I`m reading a book called "Greed Fraud and ignorance"wrote by Richard Bitner...
It`s about the US`s economy .....about the mortgage...

28D HAHA!

2008-12-15T11:28:00.003Z

Today I did some mock questions.And prepare some key knowledge......
I haven`t prepared to do the real mock....
A week past>..I didn`t prepare Math exam ....c1,c2
next week I will put more effort on Math...

31D I did something

2008-12-12T07:34:00.004Z

yesterday,I saw a film with my mother....It`s good!And bought a pair of jeans....actually I don`t like to meet people wearing jeans>.....

today I have read business book....And achieve some knowledge about qualitative and quantitative which I think is useful....what do you think?MR CHRIS

In the evening I will print the past paper...and do it next week.....

That`s all

comment is very welcome

33D what I have done

2008-12-10T12:39:00.004Z

today...I just read some pages of business book....I had no motivation to write a blog.....
Why so tired today.......

34D I LOVE THESE WORDS

2008-12-09T04:21:00.002Z

To what extent
Asks students to evaluate the success or otherwise of one argument or concept over another. Students should present a conclusion, supported by arguments. For example: To what extent should LDCs adopt outward-oriented strategies rather than inward-oriented strategies to promote economic development

Evaluate
Invites students to make an appraisal of a situation. Students should weigh the nature of the evidence available and discuss the convincing aspects of an argument as well as its implications and limitations, and the less convincing elements within an argument. For example: Evaluate alternative policies designed to reduce inflation.
Evaluation occurs when a judgment is made. It is the weighing or measuring of factors followed by an attempt to give relative weight to those factors. Questions that begin "evaluate", "assess", "critically assess", "discuss" or "to what extent" require students to show their skills of evaluation in order to reach the highest achievement levels.
There are many ways that students can be encouraged to improve their skills of evaluation.

When factors such as causes, consequences or remedies are asked for, students should attempt to identify the most important ones and then to justify the reason for the choice.

When advantages and disadvantages are asked for, students should attempt to identify the most important advantage (or disadvantage) and then justify the reason for the choice.

When strategies are asked for, students should attempt to assess the short term and long term implications.

When data is offered, students may question its validity, in terms of whether it is appropriate, whether it is reliable, or whether it is still relevant

When summarizing a theory, students may question its validity, in terms of whether it is appropriate, whether it is reliable, or whether it is still relevant.

Analyse
Here you are being asked to provide a comparison in detail of the causes and any possible effects of how the thing under consideration has developed or happened. Wherever it is possible ,try to give examples, this is especially true if the material offered has examples within it. If the term “critically" is prior to the term analyse. This is telling you that you need to make suggestions as to possibly why or why not something may or may not, in your own opinion, be appropriate considering the issue or event being analysed. Always try to offer support to your findings and/or opinions. For example: Analyse the extent to which foreign aid promotes economic development

34D 41tips

2008-12-09T03:42:00.003Z

Develop ways to read books more quickly and effectively

1. Make sure you try to scan your textbook prior to arriving at your class.
2. When scanning a book make sure you are reading for both details and ideas.
3. Always read any assignment guides and materials in FULL.
4. Try to always look for what are the main or central ideas that need to be covered and what exactly will be assessed.
5. A useful measure to recall the material you have read is to get another person to ask you questions or alternatively ask yourself questions about the material you have read. i.e. What is the main assessment criteria?
6. Carry out reflection by transferring the different information that you have read into useful and practical knowledge. (i.e." Why exactly is this criteria or point important?)
7. Write brief summaries.

How to improve my learning in the classroom
8. ALWAYS ..Go to your class. . . . Every lesson is important. Do not skip lessons.
9. Try to think about the specific subject prior to you attending the class. Try to anticipate what you think will be discussed in class.
10. Make sure you always pay attention for the entire class. Do not allow yourself to become distracted.
11. Concentrate on what your teacher is doing and saying, not on the people walking down the corridor or the notices on the class notice board.
12.Always focus on what the teacher/speaker is actually saying. Try to learn how to tune out the teacher/speaker's voice quality, mannerisms, appearance, accent etc.
13. It is always important to make sure you are listening with your mind not judging what is said with your emotions.
14. Try to develop the skills of listening for the important word cues that illustrate or reveal the teacher/speaker’s emphasis. These include words like most important, on the other hand, in addition to etc.

Tips on note taking.
15. Make sure you take as complete notes as possible. Practice your note taking skills. Learn how to abbreviate words and develop you own shorthand methods. One useful tip is to leave out vowels (wrk hrd) and use a ‘g’ for ‘ing’ (stdyng). Use other common single letters or different symbols
16. Make sure you get the important facts or details written down correctly.
17. Try to have just one notebook and keep all your individual subject specific notes in that one book.
18. It is important to re-read and review your notes. Read them again after the class and try to fill in any blanks or missed out notes. Read and review again before the next class in order to remember what you covered last time and try to anticipate what you expect to come this time.
Tips on exam taking
19. Read the whole exam paper first. Make sure you read all the relevant exam questions first. 20. It is good to answer what you think are the easiest questions first.
21. Make sure you underline or highlight the most important facts and any key words in questions before you begin to write your answer.
22. It is always good to take a couple of minutes to organize your thoughts before you begin to write.
23. When you are taking a true/false or multiple choice test pay attention exactly what is written - consider the absolutes. Choose the BEST answer.
24. Do not leave a multiple choice or true / false question blank.Always try to answer any questions you are sure you know the answer to first. Come back to the more difficult ones later.
25. Use your time wisely. Do not spend more than the allocated length of time any one specific question.
26. Never leave an exam early. Look back over your answers if you have the time and proof read carefully

Important dos and do nots
27. Do not study for a test while watching television or eating a meal etc.
28. Do not try to study while straining to listen to the basketball game on the TV in the other room.
29. Do not stay up all night studying.
30. Do not try to study when you are very sleepy.
31. Do practice past papers and exam questions to improve your test performance.
32. Do hand in your homework neatly done and on time.
33. Do practice different memory strategies.
34. Do stay healthy and fit and try to eliminate your bad time wasting habits

Managing you time
35. It’s a good idea to keep a daily/weekly "to do" calendar/notebook. Put the different tasks in the order of priority. Make sure your list is realistic.
36. It is advisable to try to schedule work or study that demands high levels of concentration, such as taking notes on a specific text in 50 minute time periods. Then have a short break.
37. Make sure you have always allowed enough time in your schedule for conducting library research.
38. When researching on the internet do not become distracted by irrelevant sites.
39. Get specialist help wherever possible. Make sure assessable work has been properly proofread before submitting it
40. Get some sleep.
41. Balance your time – even though study is extremely important, don’t cancel all of your leisure activities either.

I found it!

2008-12-09T03:40:00.003Z

Finally, I found it!!!!!!Male bra!!!!

I hate pink.........special bright pink!!!!!!!!!!!

35D WORD REVISION 2 (whole page)

2008-12-08T13:18:00.004Z

PREDATORY PRICING:setting a price low enough to drive competitors out of market or the business.....

PRICE DISCRIMINATION:means charging different prices to different people for what is essential the same product

PRICE ELASTICITY:is a measure of the way the demand for a good responds to a change in price

PRICING STRATEGY:is the medium-to long -term plan for the price level that a firm wished to set for a product

PRICING TACTICS:ways of using price to take advantage of a short-term opportunity or threat

PRIMARY RESEARCH:field research,which has first-hand information and relevant to the business which is new

SECONDARY RESEARCH:which has second-hand information and has collection the data and has already existed

PRODUCT DIFFERENTIATION:is the extent to which consumers perceive one product as being different from its rivals

PRODUCT LIFE CYCLE:the theory that all products follow a similar life course of conception

PRODUCT PORTFOLIO:the range of products or brands held by a company that provide it with diversified sources of income

QUALITATIVE RESEARCH:is in-depth research into the motivations behind consumer behaviour or attitudes
QUANTITATIVE RESEARCH:research using pre-set questions among a large enough sample size to provide statistically valid data

SAMPLE:a group of respondents to a market research exercise selected to be representative of the views of the target market as a whole

SIGNIFICANCE TESTING:checking the statistical validity of a sample result

UNIQUE SELLING POINT:the feature of a product that can be focused on in order to differentiate it from all competition

35D I met my girlfriend today!

2008-12-08T13:04:00.005Z

after arrived in BEIJING.....after I cleaned my suitcase...after I took a shower...
I went to school to meet my girlfriend!Because of the school ceremony...she wore so unusual>..that I can`t identify her .....But still.....you knew what I mean.....hahahahah

we had a deep hug..and `````and`````...I just wanted to stop the time at that moment.....

Time is limited.....I just saw her off in front of the door>....what a pity.....

By the way, 35 to have the business exam...this is the point!

35D WORD REVISION 1 (half page)

2008-12-08T12:09:00.005Z

ADDING VALUE:the process of increasing the value of resources by changing them during the production process(the difference between the price of the finished product and the costs incurred in making it)

BOSTON MATRIX:a method of analysing the current position of the products within a firm`s portfolio.

DESIGN MIX:how the firm combines three key design elements in order to fit the market gap that has been identified.

aesthetic appeal(appeal to the senses)
function(how well the product works and lasts)
economic manufacture

DISTRIBUTION CHANNELS:the stage of ownership that take place as a product moves from the manufacture to the consumer

EXTENSION STRATEGY:a medium-to large-term plan for lengthening the life cycle of the a product or brand

INCOME ELASTICITY:measures the way in which demand changes when consumer`s real income change

MARKET MIX:the main variables through which a firm carries out its marketing strategy(4P)

MARKET OBJECTIVES:marketing department must achieve in order to help the company achieve its overall objectives

MARKETING STRATEGY:a medium-to long-term plan for meeting marketing objectives

MARKET RESEARCH:the process of gathering primary and secondary data on the consumer

MARKET SEGMENTATION:analysing a market to identify the different types of the consumer

MARKET SHARE:the percentage of all the sales within a market that are held by one brand or company

MARKET SIZE:the total sales of the producer within a market-place

MASS MARKETING:target the firm`s advertising and promotional spending an the whole market

NICHE MARKETING:a small range of market

I need some help....chris

2008-12-04T23:14:00.004Z

I have balloondebate，why should I survive？？I·m a cook.....could you give me some ideas.......thanks

list....Chris

2008-12-01T21:56:00.003Z

After I saw my name on the candidate list.....I got confused/.

I have 2 ways

1.Ask Mr Ian if my information is right or not......it will impact my decision directly....

2.Take the exam in Jan .......I have 5weeks more .......Chris ....give me some help.....what should I do to improve my business.......

Male Bra

2008-11-28T19:59:00.004Z

STRINGS ATTACHED

2008-11-27T22:38:00.002Z

Sorry No blog today!

2008-11-26T19:05:00.002Z

Because of the Math test tomorrow,so....no blog today......

Video revision(3)

2008-11-23T16:44:00.007Z

ORGANISATION STRUCTURES

size
culture
activities
history

Delayering:reduction of the length of a chain of command by the removal of one or more "layers" of a hierarchy.

Advantage:

more communication
more responsibility
better motivation
reduced the cost

drawback:

causes staff redundancies
loss of knowledge
"loss of a corporate memory'
affect customer relationships

LEADERSHIP STYLES

Autocratic
paternalistic
consultative
democratic

STOCK:

raw materials
partly finished products
finished products

STOCK CONTROL:

JUST IN TIME(JAPAN)

ADVANTAGES:

IMPROVES CASH FLOW
DECREASE WORKING CAPITAL REQUIRED
MORE SPACE MORE PRODUCTION
LESS WASTE AND DAMAGE
LINK WITH SUPPLIER IMPROVED
MORE CONTROL OF SUPPLIER
OPPORTUNITY OF COMPUTERISATION
WORKER MOTIVATION
MORE FLEXIBLE DESIGN OF PRODUCT

DISADVANTAGES:

GREAT RELIANCE ON THE SUPPLIERS
ORDER COST PER UNIT MAY BE HIGH
ADMINISTRATIVE BURDEN AND COST
HARD TO COPY WITH SHARP RISE IN DEMAND
MAY LET CUSTOMERS DOWN
NEED EFFICIENT MANAGEMENT AND CONTROL SYSTEMS

NEWS:VAT to be cut by 2.5%

2008-11-23T16:44:00.006Z

A talk with MR brown
As we know,the VAT used to be 17.5%.but recently,aimed at kick-starting the economy.government want to cut VAT by 2.5% to 15%.

WHY IS THAT?
In my opinions:because of the recession.People get less money than before.so people won`t buy more products...adding the "economy emergency"has impack whole world.It hits consumers` confident indeed!And "credit crunch"for instance harder to borrow from the bank.so the bank gets less interest rate!!!It lend to bankrupt.......

So what is VAT?
I think it`s a type of tax included the products.Such as food meat....etc...
Government uses that tax to improve produce merit goods.New equipments and health care.
And some of taxes are used to improve public goods!(road,motoway,road sign)

Why government cuts VAT?
The main point is to increase expenditure!If you bought a bottle of milk was 2.35pounds(2pounds for sale,0.35pound for 17.5%VAT)and you buy it now should pay2.3pounds(2pounds sale,0.3pound for 15%VAT)you save 5pence!That just a example to show how the VAT impack real life.That means people pay less on the products even if the price of the product doesn`t change before the tax.

But if cut the VAT,goverment will loss more taxes to improve merit goods!
Why?>..........
Is it really influence the damand and supply?
As we know food and meat are inelastic!That means if price goes down,the quantity of the good won`t change alot!It doesn`t really affect people to consume....It doesn`t make a big difference!

mortgage problem and job problem can be solved out!
Because of the price of the house is decreasing!People can not pay back!If VAT cut down,people have more money in pocket!It will slowdown the problem.......

How about job problem?
To be continued................................

Christmas Gifts(enjoy it)

2008-11-19T21:28:00.007Z

BOOM FOR ONLINE FASHION FIRM ASOS

2008-11-19T18:21:00.003Z

a. possible reasons for the success of ASOS
I think the possible reasons why ASOS make a big success are:
First,they sale on online you can order the clothes 24hours!!! And ask them to delivery it for you.It makes a big difference from shop.Assuming you are an housewife,you have no time go out for shopping,you should look after your child and prepare the dinner for you husband,wishing clothes.....etc...if you buy clothes online,it will save you much time....

Second, Location,as we know some businesses opened in their own house,it means you don`t need to open a shop and pay rent monthly!It`s easy to open,and easy to manage...

Third,you can do all these things by yourself,or ask your family to help you,you don`t have to employ people,it also saves money.

Because of second and third reasons,they can offer low price....it`s full of competition...

b. who the main competitors are:
Because not only ASOS manages clothes online,more and more small firms of business aim at this market...
Some famous brand are popular,so people prefer to buy some luxury clothes than spend money online.
c. strengths/weaknesses of their products
strengths:
24 hours open,free delivery?pay with credit card.update information.easy to start-up.no pay for rent and employee salary.you can offer low price comparing with same product.easy to gain profit

weaknesses:
Maybe normal quality??And not famous brand name?New consumers have less confident than entity clothes shop.
d. what steps can they take to ensure continued success?
find the market gap
improve quality of the clothes
do some market tests or market research
the features of the products.some humanize services?

I `M FEELING LUCKY

2008-11-18T17:49:00.005Z

When you explore the website,have you ever typed "www.google.co.uk"?If you have,and did you use the button which is next to the "Google search"called "I`m felling lucky"?I don`t think so....

so,what does that use for?
If you want to search some website,you just need to press "Google search"then you will see lots lots websites which is related to the word which you typed.But if you press"I`m feeling lucky" then you will go to the official website directly.

For example:
First you type "apple"(I want to something new about ipods!Not fruit)then press "Google search" you will see hundreds of websites not just apple company but something about apples(fruit) supply or some weird thing happened related "apple".

Second back to the homepage of Google,then press "I`m feeling lucky?",you will see the apple official website immediatly.Which means you can visit the official website easyly.

But does this button help Google to earn more profit?--Obviously not!!!So,why doesn`t Google abolish the button???
According to "Marissa Maye"said,it is essential for Google.
As we know because of keeping this button,Google has lost more profit!Because 99% of the incomes is advertising, therefore,advertising is the main way to make profit for Google.If more and more people click"I`m feeling lucky",they will enter the official website without adverts,so the Google can`t make more profit.....It`s huge loss.........

Sergey Brin who is Google founder said merely 1% people used the "I`m feeling lucky"button to visit the website.That`s means Google will lose 1.1billion dollars annually.......

Video revision(2)

2008-11-15T22:28:00.003Z

MARKET STRATEGY

Objectives: what you want to achieve.

Specific—increase the sales
Measurable—10percent
Within a time frame—in 3 years

Strategy: how you achieve.

Niche market: focus on a specific segment of the market.
Mass market: much bigger market.

Introduction:

Create awareness
Encourage sales
Develop an image

Decline :( Product start to fall)

Withdraw product
Wait for other competitors to withdraw products
Extension strategy

MARKET PLANNING

4PS:

Product
Price

new product pricing strategies
existing product pricing strategies
pricing methods
pricing tactics

Place
Promotion

1.above the line(advertising):TV,RADIO MAGAZINE

2.below the line:

a.sales promotion:BOGOF,25%extra free

b.personal selling:face-to-face selling

c.direct marketing:mailshots

pricing strategies:

price leader strategy(a firm sets market prices then follows other competitors)
price taker strategy(a firm follows market prices sets by the leader)
predator strategy(a firm undercuts the competitors to force them out of the market)

pricing:

cost-plus:a amount of profit is added on the unit cost

contribution

discrimination:setting different prices for the same product/service at different times

loss leaders:very low prices to attract customers

psychological:3.99

chapter 4 finance(3)

2008-11-13T23:12:00.003Z

THE BALANCE SHEET
Business need to know how much they are worth.To find out,a business can use its balance sheet.This shows it how much it owns against how much it owes .The balance sheet is often called a "snapshot"because it shows the situation at the point at which it was drawn up.The balance sheet for a small business is relatively simple,that for a large business more complex,but the principles are the same.

Some definitions:
assets:anything that a business owns that has a value.
creditors:those to whom the business owns money such as banks
debtors:those who owe the business money,such as other businesses that have yet to pay for goods bought
liabilities:anything that a business owes that has a value

THE ACCOUNT

There are three parts to a balance sheet.Each is linked to the others

Assets--what a business owns
liabilities --what a business owns
capital--where the business has raised in money from

ASSET

Items,are only assets if they can be valued."Reputation",for example,does not appear in a balance sheet.Assets are either fixed(e.g buildings and machinery used in production)or current (e.g stocks of finished product that could be easily turned into cash,or money that is owed to the business by debtors)

LIABILITIES

Items are only liabilities if they can be valued.Liabilities are either current (debts that must be paid back within a year,such as bank overdraft and debts owed to creditors)or long term(debts that the business has more that a year to repay,such as long-term loans and mortgages)

CAPITAL

The final part of the account shows how the money for these net assets employed was raised.This could be via shares,though profit,or from profit made in previous period.Capital must balance with net current assets.

KEY POINT!

fixed assets +current assets =total assets

current liabilities+long-term liabilities=total liabilities

total assets -total liabilities=net assets employed

PROFIT AND LOSS ACCOUNT

THE ACCOUNT

3 parts to the profit and loss account

trading account -what the business has sold and what it has cost to achieve these sales.
profit and loss account-gross profit minus expenses
appropriation account-where the net profit has gone

INCOME

The account shows that what the business has earn.This is called its income.The biggest source of income for most business is sales revenue.However,the cost of buying or marketing the items sold has to be deducted from this total.

STOCK

The only time this is different is if you have stock left over.This is our "opening stock"for the next year.

EXPENSES

Buying and selling the pencils will have taken you time,you may also need somewhere to sell them from .These are all expenses.A bigger business will have to pay items like wages,rent on premises,power bills and equipment costs.

GROSS AND NET PROFIT

Gross profit is the amount that you have made before expenses are taken into account .Net profit is the amount after expenses are deducted.

Appropriation account

What happens to the gross profit.Some of it goes in taxes,some may be given to shareholders in the forms of dividends and some may be kept to help the finances of the business.

KEY POINT!

trading account :

sales revenue-costs of sales=gross profit

profit and loss account:

gross profit -expenses=net profit

appropriation account:

profit after tax-dividends=retained profit

CASH AND CASH FLOW

SOME DEFINITIONS:

budget-a plan of future expenditure

cash-flow crisis-when a business cannot pay its immediate debts

forecast -an estimate;trying to look into the future

CASH FLOW

If there is more cash coming into in than the business needs ,this is called cash surplus,If there is less cash coming than the business needs,it is called cash shortage.Remember that it can be just as bad to have too much cash as to have too little.It is inefficient to have too much.It is better to turn an excess of cash into assets that can earn more money

KEY POINT!

If a business knows when it is going to need cash it can plan to do something about it

borrow money
increase sales
decrease costs
persuade people to pay more quickly

THE NEXT BOOKHOLDER IS NARA!!!!!!

chapter 4 finance(2)

2008-11-13T21:42:00.005Z

Breaking even

When revenue is greater than costs, a business is making a profit.Where revenue is less that costs,the business is making a loss.The point where the amount of revenue is equal to the amount of costs is called the break even point.At this point the business is making neither a profit nor a loss.

Some definitions:

breakeven:the point where a business is making neither profit nor loss.

contribution:a method of using breakeven to show how much(if anything)each product contributes to profit.

Moving breakeven:

If a business is making a loss,it can try to make changes.It can seek either to lower costs or to increase revenue.Managers can use breakeven as a tool to help them predict what might happen as a result of such changes.

Contribution

The example we have been looking at assumes a single product,and that all output is sold.Obviously this is not always the case.To see how each product is doing,managers can use the contribution method.This is looks at the contribution to overall revenue from the sale of each product.Contribution is calculated by taking the variable costs of a product away from its revenue.The formula for working out the number of sales necessary to break even is:

Formula:

breakeven sales=fixed costs/contribution

It is also important for a business to look at revenue -that is,actual sales -rather than the number produced,as some products may not be sold.

Financial documents

Think about a transaction that you have carried out in a shop.What paperwork was involved?What about if you ordered something online?When you buy something in a shop you are entitled to a receipt,to show that you have paid for the goods.The business also keeps a record of the purchase.

Some definitions:

B2B:the abbreviation for "business-to-business"transactions

B2C:the abbreviation for "business-to-consumer"transactions

transaction:the term used for buying and selling a good or service

Business-to-consumer transactions(B2C)

The process of ordering,buying and paying for something involves records.Imagine buying a present from a catalogue.You order it,it is delivered with a request for payment, you pay for it.Buying from the internet is similar.You order the good,usually pay for it then and there,and receive a receipt to print off.The business then delivers it.If you are unhappy with it,you can return it and get a refund.

Business-to-business transactions(B2B)

Business-to-business transaction are not much different.If a business wants to buy something,say stock for sale or raw materials,it will buy it from another business.There are three phases to the transaction:the order,the delivery and the payment.Each has its own special document to make sure that each business has a record of the transaction .

The order
Another word for"buy"is "purchase".Business use a purchase order to say what they want to buy,how much they want and what they expect to pay.Between businesses,it is rare for payment to be made at this stage.Usually it is made on delivery.

The delivery
The goods are delivered to the buyer,who signs the delivery note to show that the goods have been accepted.The buyer completes its own paperwork to show that the goods have been received.This goods received note is passed to finance so that it knows it can pay for the goods.

The payment
The seller prepares a bill for the buyer,so that it knows how much to pay,when and how .This is called a sales involved .This will match the description of the goods delivered on the delivery note.The buyer then pays for the goods.Another word for payment is"remittance".A remittance advice slip is sent with the payment.This says what the money is for.The seller may then send the buyer a receipt,to show that payment has been accepted.If an order is incomplete or there is a problem with it,the seller may issue a credit note,allowing the buyer credit against a future purchase.

Regular business
If the two businesses trade together regularly,the buyer may have an account with the seller.In this case, the buyer may be invoiced on a regular basis.A record of sales and payments will be kept on a statement of account,prepared by the seller and checked by the buyer.

KEY POINT!

The all transactions ,there are 3 parts:

the order
the delivery
the payment

chapter 4 finance(1)

2008-11-13T20:05:00.005Z

SOURCES OF FINANCE
the money that a business needs may come from its owner,from lenders or people who are willing to take a risk,or from other outside sources.usually there is a risk attached to borrowing money,but that is what enterprise is all about--risk taking

some definitions:

discount:a reduction in prices
retained profit:amounts not distributed to owners but "ploughed back"into the business
start-up grants:an initial sum of money,given to help a business become established

owners` funds

one of the main sources of finance for starting a business is the money that the owners already have.they can risk this in the business in the hope that the business will be profitable.sole traders may use their own funds.partnerships will share resources.limited companies can rise funds by selling shares to the owners(the shareholders).once a business is a success and profitable,it may keep some of its profit for future finance.this is called retained profit.

Borrowing

if business owners do not already have the funds,then they need to borrow them.usually businesses borrow from lending institutions such as banks.the most common forms of business borrowing are shown in the table below.there is a cost to borrowing.usually this takes the form of interest.generally,the riskier the loan and the longer the period of borrowing,the more interest will need to be paid.

short term:(from a few days up to 3 years)

overdrafts

loans

trade credit

factoring

medium-term:(from 3 years to 10 years)

hire purchase

loans

debentures

long-term:(10 years +)

loans

mortgages

the types of borrowing can be described as follows:

trade credit--a business promises to pay in the future for goods that is has received (hopefully,it will pay for the goods that it has sold them).the period of trade credit can be up to 90 days but is often less.unusually,interest is seldom charged-but there will be penalties if payment is not made and there could be discount for early payment.

overdrafts--a bank allows a business to take more out of its account than it has in,up to an agreed limit.this is very flexible and interest is only charged on what is actually owed,for the time that it is owed.

loans--borrowing a fixed amount,for a fixed term.the business makes regular repayments and is charged interest on the full amount for the term of the loan.

factoring--selling debts to a specialist firm,which then collects the money owed.the factoring firm makes its money by paying less for the debt than it actually collects.

hire purchase--paying for a piece of plant or equipment in instalments.the business can use the item while it is still paying for it.

mortgages--long-term loans used to buy expensive items such as land or buildings.

debentures--guarantees to pay at a time in the future,which may offer low risk but good interest rates for investors.they can be issued by large businesses.

Secured and unsecured borrowing

a mortgage is a secured loan,an overdraft is likely to be unsecured.but what does this mean?in the case of the mortgages,if it is not paid,the lending institution may be able to retrieve its money by seizing and selling the asset(a house or factory,for instance).if the loan is unsecured,the lender has no security of this type.

Grants

sometimes businesses do not have to use their own funds or borrow them,because there are grants available.a grant is sum of money made available to a business by a body such as central government,the European union or a local council.charities may also provide grants.the prince`s youth business trust,for example,provide start-up grants for businesses set up by young people.

key points!

three main sources where come from

owners` own money--owners`funds
money from banks or other lenders--borrowed funds
money that dose not have to be paid--grants

COST AND REVENUE

businesses produce either a good for sale or a service.if it is a good,there are raw materials and other inputs to pay for.if it is a service,the business needs to let people know that it exists. in either case,therefore,there are costs.the money that the businesses received for its sales is called revenue.business costs are divided into fixed costs -also called indirect costs or overheads-and variable costs .

Fixed costs

Fixed costs do not vary with output-that is, with the amount produced.Example are rent,interest payments and rates.They have to be paid whether or not a business is producing.

Variable costs

Variable costs are those costs that vary with output,such as raw materials.packaging,parts and components,ingredients,power and labour charges.Total cost is fixed cost plus variable cost.Sometimes it is difficult to decide whether a cost is fixed or variable,as it may have elements of both within it.Utilities are a case in point .A power or telecommunications bill,for example,has a fixed element for the supply of the service,plus a variable element for the amount of the service used.

Semi-variable costs

These are costs that do vary with output,but not directly.For example,a business may need to pay overtime,or a shop may need to open for longer hours.

Other definitions

Costs can be divided into start-up costs and running costs.Start-up costs are only paid when setting up a business.Financing this may become part of a business`s fixed costs.Running or operational costs have to be paid to keep the business going.These may be fixed costs such as rent,or variable costs such as wages.

KEY POINT!

fixed costs do not vary with output
Variable costs vary with output.
Semi-variable costs vary indirectly with output
Start-up costs are paid to get a business started
Running costs are paid to keep it going

some definitions:

output:the amount of a good produced,or service carried out
overheads:the term often used in accounting to refer to fixed costs
utilities:essential services such as water and power

video revision(1)

2008-11-12T22:05:00.005Z

Market share:
--High market share gives business more powerful to set prices, keep customer loyalty and negotiate better terms with suppliers
--Low market share lead to fail sales
Business need information from customers (FYI)

Market segmentation：
Business spend less on advertising and more successful with there advertisings
Lead to low cost, lower prices, higher sales.

Market research can’t guarantee success
But improve firms making decisions

primary market research:
1.qualitative
2.quantitative

secondary research:
1.internal sources
2.external sources

Which university I really want to enter

2008-11-12T20:44:00.004Z

This is rank of economics:
4 University College London 5*A 459 87% 93.9
http://www.ucl.ac.uk/
5 Warwick 5*B 473 90% 93.2
http://www2.warwick.ac.uk/
6 Durham 4B 462 82% 90.5
http://www.dur.ac.uk/

This is rank of business:
5 Warwick 5*B 440 77.7% 91.2
3 London School of Economics 5A 437 90.0% 94

small summarise

2008-11-12T19:56:00.005Z

Accounts
----Balance sheet
1.assets
a.fixed:buildings
b.current:
stock
debit
bank
cash

2.liability
3.capital
----T+P+L
trading
profit
loss

8types of pricing
skimming
psychology
cost+
contribution
competitive
penetration
discrimination
destroyer

How does HSBC help you start-up a new business

2008-11-12T19:51:00.002Z

Practical support for your business from our Business Specialists

Up to 18 months free business banking, this means there are no charges for cash and cheques.

Commercial card fee-free for the first 12 months

Annual Business Reviews.

Government help
Many government bodies offer help to new businesses

Professional help
At some stage you need an accountant and a solicitor your local chamber of commerce, business link,the law society or association of chartered accountants can provide you with lists of firms on your area

Trade associations and other help
At HSBC we have extensive experience of helping businesses to succeed by ensuring that your financial planning is rigorous and comprehensive

1. We have policies to protect you and your premises
2. Our multi-award winning Business international banking service gives you the freedom to do your banking when it suits you
3. we have a wide range of loan options to help you fund or expand your business
4. we provide “overdraft” service
5. our international solutions are designed to simplify the process of trading overseas
6.we can give new start-up businesses projection a turnover exceeding 5 000 000 and trading with other businesses

LONZIM(company report)

2008-11-12T18:50:00.004Z

website:www.lonzim.co.uk
”000
Revenue 290
Cost of sales 107

Gross profit 183
Other operation income 52
Operation cost (620)

Operation loss before financing income (385)
Finance income 503
Finance expenses (18)

Net finance income 485

Loss before tax (699)
Income tax （17）

Assets
Business combinations 3561
Non-compete agreement 6554
Property plant and equipment 373

Liabilities
Interest bearing loans and borrowing 138
Deferred tax liabilities 21

Cash flow from operation activities (385)
Cash paid for inventories (11)
Increase in trade and other receivables 190
Increase in trade and other payables 512
Cash expensed from operations (74)
Interest paid (18）

Net cash flow from activities （92）

some ads

2008-11-10T15:45:00.007Z

car!

2008-11-10T15:39:00.002Z

DO you like this car?

HEINZ BEAN BARS

2008-11-09T12:10:00.006Z

Beans with Beers(BWB),have you ever thought about it?-But it became true.

In order to promote their “Saucy Beanz” range,HEINZ put them together.(SOUNDS CRAZY,I can`t image how does it taste)

As we know, HEINZ is famous for their beans!That means it`s inelastic,even if the price goes up,the demand won`t change a lot.People still buy its products!(like nike)

HEINZ produce this new products,why?

1.Because of it is a new project,new product,people would like to give it a try....

2.strong brand!!!HEINZ is a strong brand name!Even it fail,it gets exprience it`s good for a large business company(like a market test).small businesses can`t do it

3.ADDING VALUE:A strong brand can do it when they sell these products.

4.beans with beers in UK!!Do you achieve some information?I dare to say "BEAR" is the most popular product in UK,people like to watch football match with beers."BEAN"(by the way my dish has beans 3times a week when I have dinner) also is essential for people who live in UK.

Are there any competitors??so far I don`t think so......

Is this a good idea?Who knows...1+1=2 not fit for business

It is pizza machine,not vending machine!

2008-11-04T21:01:00.003Z

Before today`s topic,I want to say I have order a company report.
these days I just wrote some of vending machine which makes me sick!!!Because most of them are same,maybe the different is what are the machines sell......get bored........

Todat,we are going to talk about the new machine---pizza machine!Have you realized this machine somewhere is weird?
Yes!You got it!This machine is twice as big as the normal pizza machine!does it make you surprise?!That means you spend same time,but you got two pizzas!Are you still feel hungry?Enjoy it!

If you eager to cook pizza quickly,don`t worry,it just takes 90 seconds(15minutes faster than other normal owen)remember 2 pizzas!It is better to invite someone to your house and cook pizza like a piece of cake!

Sometimes you afraid of ironing your hand when pick out the pizza,we have already think about it.The stainless steel slide out, allowing you to easily insert and remove pizza.

What`s more,the prize $249.95 it`s acceptable.And the key point is it saves your time!And you can treat it as your best assistant!

But...on the other hand,does this machine need more electricity??????.....And it`s really big ..we need give it more space....of cource it`s elastic...but in my opinion,it`s a good product for our normal life

Sun Screen vending machine

2008-11-04T20:00:00.005Z

This vending machine will give you different feeling!It dosen`t sell anything...it gives your service will protect your skill from sunshine!It`s sun screen vending machine.

It has 3 modes for you to choose

And also, its essential function is to protect your body from sunshine,which is good for someone who want to enjoy sunshine bath but afraid of the sunshine.It merely take your 3 to 10 seconds.

Another convenient point is it will put something which helps to protect sunshine cover your body it doesn`t matter how long you want to play on the beach,you don`t need to think about the sunshine,just enjoy yourself.

Do you know how cheap it is.Just $1 .....can you image?!And support credit card....hehehehe...

where will it be full of exploited?

some hot countries(like some region of USA)

where has beach(like france,some parts of UK,greece)

what`s wrong with me?!

2008-11-04T19:21:00.004Z

Last weekend,I always got tired!!!But the reason is I didn`t do anything....add.....

ON Saturday,I woke up at 11am and had a short breakfast,then I felt tired...and went to sleep....till 3pm.I felt nothing to do(my laptop is broken....f***)what I did is finish business homework until page52(about 1hour at 4pm)and whached the Formula one,the last race.Actually,I don`t like him although he is talent,is genius,it`s his second year...he has a long way to go...At 7pm I got tired again!(what`s wrong with me)I just couldn`t control myself to go to bed....I just realized I even went out of the door.

Sunday... bad weather,it made me lazy.........................

what`s up...........

but now I`m back!

maybe it`s because I have full of energy!!!(over slept)

Something important

2008-10-26T12:53:00.005Z

DIFFERENCE:(member,liability,formation,transfer interest,tax,legal entity)
sole trader:one person ,un,no,yes,income,not separate
partnership:between 2 and 20,un,partnership deed,no,income,not separate
limited company:is a legal entity,lim,memorandum articles,yes(if others agree),cooperation,separate

AD and DA:

sole trader:
AD:simple to set up a.No complicated paper work,has complete control of the business
DA:Noing to prevent a sole trader taking on employes and many do
It`s liable for all debts the business incurs
In worst case,sole trader may face bankruptcy

partnership:
AD:offering for professional service
can bring more capital and awider range of skill
work and idea to the business
DA:partners may fall out

limited company:
AD:share of any profit
it offers shareholders limited liability
the liability of each shareholder is limited to the amount of capital,they have invested in the business

question 1

2008-10-22T21:08:00.007+01:00

Question 1 - The Nostalgic Lamp Company
The Nostalgic Lamp Company manufactures three types of lamp: Mr T., Gloria Gaynor and Donny Osmond models. Production of the lamps are organised into three costs centres. The profit and loss account for the year just ended shows that the Donny Osmond makes a loss and it has been suggested that they may be discontinued.

£000s Mr T Gloria Gaynor Donny Osmond

Sales 500 350 650
Direct Materials 150 80 250
Direct Labour 100 100 250
Variable overheads50 40 60
Fixed overheads 100 80 110
Totals costs 400 300 670
Profit/loss 100 50 (20)

Questions
1. Define the term ‘cost centre.’ (2 marks)
2. What are the pros and cons of using costs centres in dealing with costs? (4 marks)
3. From the above schedule of costs and profits:-
a) Calculate the variable cost of producing the each of the three lamps (3 marks)
b) Calculate the contribution of each of the three lamps (3 marks)
c) Calculate the total fixed costs (1 mark)
d) Calculate the overall level of profits. (2 marks)
4. The Donny Osmond lamp is discontinued. Evaluate the impact on the company’s overall profits

answer:
1.cost centrer:a department or section of an organisation to which specific costs can be allocated
2.pros:
(1).team spirit is easier to generate among 20 people than among 2000
(2).by identifying the costs generated by each department,the firm is better able to decisions(3).bucause the costs can be allocated,so it`s easy to collect the money.
cons:
1.maybe after a long time there will be some impacts.
2.YOU should give each individual benefit,maybe some argument appears,bucause of personal

ipod vending machine

2008-10-22T20:23:00.004+01:00

I have already evaluated some topics about "vending machine",but it`s one is more interesting thing to evaluate.

Like other vending machines,it is more convenient than others.I like it!It looks fashion!cool!You may get the things that you want to buy in shops.

BUT!!!!I think the drawbacks is obvious!

1.you can`t get more information from it!what you can do is just buy it....if you don`t know some key point!Maybe you will regret...

2.HOW MUCH MONEY IT ACCEPTS?

AS we know,in EF school, the self machine just accept the coins!thet don`t accept the cash!This is a problem!LET US ASSUME the ipod machine accepts the cash,so what per value does it accept?10?20?because most of machine don`t accept 50!(when I take money from the bank,the machine only gives me 10and 20)so if you want to buy ITOUCH( cheapest:179pounds )you must put 10times 18=180.You must put 10pounds into the machine 18times.....get tired!

ALSO,does the machine give back you cash or coins???if I want to buy an IPOD 129pounds and I just got 140pounds(20times7=140)so the machine must give 11 pounds back to me.Is it 11 one pound coins????heavy....................

SOMETHING I WANT TO MENTION:the security!IN THE MID NIGHT,some one break the glass by using hammer or screwdriver and they stolen the ipod?What to do???(I don`t think the glass is as strong as diamond)

Emmmmm....I think it is a good idea,but bucause you put IPOD in the machine not 50p`s sweets.It`s difficult to protect the machine....that is the point!

FOR CHRIS!

2008-10-21T18:38:00.002+01:00

thank you for you business exam book!It`s really helpful!

and I`d like to retake the exam which we did today!COULD YOU ASSESS IT ???or give me a new textpaper!Thank you so much!