Purchasing And Supply Chain Management Case Study

Purchasing And Supply Chain Management - Case Study Example The first level is the need/problem recognition or identification level. This is the primary stage where an individual buyer recognizes the need or problem. After an individual realizes a need or problem then only he/she starts searching for the solution/product. The second stage is to determine alternatives or to gather information about the product or solution. Thus, after completion of searching the alternatives, next comes the assessment stage. In this step, the various alternatives are assessed carefully in order to reduce risk and maximize profitability. Subsequently, the decision making part takes place which means whether to purchase a particular product or not. This can occur only when the individual is evidently convinced about the benefits of the product. Finally, appears the post-purchase evaluation stage. This is the last stage which deals with the satisfaction level of the customer after purchasing the product. Moreover, the process of purchasing also includes certain o ther facts into consideration. The requirement of the total cost is one of the essential components which need to be accessed before purchasing. Furthermore, the selection of a supplier is also evident, prior to buying as well as to search for other alternatives in order to acquire the product at a reduced cost (Weele, 2009). Conclusively, it can be stated that the decision of purchasing a product needs a cautious review of various aspects associated with it. According to the case study, it can be stated that Dr. Spiller is surely escaping normal purchasing procedures. As he is the head of the radiology department, so he tries to circumvent the general procedure of asking the purchasing manager before finalizing the deal for purchase.

How to reduce student stress(time, environment) Essay Example for Free

How to reduce student stress(time, environment) Essay Manage time wisely Student feeling stress when they are no enough time to do their work. Student always like to do the last minute work, because they didn’t plan well for their time. And also student lazy to do their job early, they feel that they can finish at the end, but when the due date was come, they have to rush and finish the job in the limited time. Most of the last minute job was not as good as the job start early. Few ways that student can do to manage their time well, example like create their own timetable Most of the students always forget what they have to do because they didn’t plan at all. Student should create their own timetable to arrange their time, example like week to start to do the assignment, make sure they have enough time to complete the job well before the due date; time to start study for their exam, if student got enough time to prepare for their exam, they can gain a more good result. Result also one of the reason cause student stress, all the source of stress was related if student did not handle well. Besides that, student should jot down the list to do of the day. Example like what homework that lecturer given, or others important task should be finish, so they won’t miss out the important things. With the list to do, student can clearly know that what they going to do and can evaluate how they spending the time. Of course, while the time was arrange prop erly, student will found that they have a lot of time to do other things after they finish they tasks and work; they can arrange for others activity to take a break, example like sport activity they like, club society activity, have a high tea with friends, shopping, movie and so on. Always plan well, work hard to play harder, and must have appropriate time for rest, then the stress will far away from them. Create a good study environment A proper and comfortable environment to study is very important to student; it can influence student mood and motivation to study. If student be in a place was noisy and rowdy they will hard to focus and will feel annoying and irritating at the moment. The irritating emotion will also cause stress to student. Some factors will influence the comfortable of environment, example like noise, music, lighting, and temperature. For sure a quite place is suitable for study, some of the people need a totally quite environment to  study, but some people prefer have some music. The soft music can reconcile the mood of student and let them feel relax or not too tension. The lighting was also important to create a good environment to study, too harsh bright light was no suitable but too soft light will cause student feel sleepy. The lightness should in a moderate level to create the most suitable environment. Lastly the temperature, too hot or too cold both can make people feel uncomfortable. Some place was recommended as comfortable environment to study, the library, a peaceful coffee shop, bedroom, and a draughty balcony. People also can influence a comfortable study environment. Some students prefer a group study than individual, because they feel lonely and can’t stand off being alone, they need others friends accompany and they can have a discussion with friends when they have any question. And also friends can help student to share their stress when they feel pressure. References http://www.wcu.edu/academics/campus-academic-resources/writing-and-learning-commons-walc/course-tutoring-and-academic-skills/academic-strategies/ideal-study-environments-and-factors-that-influence-studying.asp

A critical review of Porters competitive strategy

A critical review of Porters competitive strategy Title: A critical review of Porter's competitive strategy in relation to his five forces model in comparison to other perspectives. â€Å"All men can see these tactics whereby I conquer, but what none can see is the strategy out of which victory is evolved.† Sun Tzu, Chinese General Introduction Strategy originates from military and warfare and according to Stephen Cummings; the word itself has its origins from the Greek word ‘stratos’ which meant ‘army’ (Cummings, 1993, pp 133 – 135). A number of ancient generals and scholars have defined the character of strategy. Some famous ones are Sun Tzu, the Chinese general in the 2nd century BC and Sextus Frontinus, the Roman general in the first century AD. Frontinus has defined strategy as â€Å"everything achieved by a commander, be it characterised by foresight, advantage, enterprise or resolution† (Cummings, 1993, pp 133 – 135). Another Greek military commander Xenophon very aptly defined strategy as â€Å"knowing the business which you propose to carry out† (Cummings, 1993, pp 133 – 135). The importance of clear intent, seeking advantage over adversaries, objectives of survival and expansion, and utilisation of given resources with inherent strengths and weaknesses in a manner that successfully leverages the advantage, are as relevant to a business organisation as to military. Aligning resources to objectives to gain advantage to maximum limits requires strategic thinking. This process can be either logical or creative. Strategy formation itself can be deliberate or emergent. Strategy operates at various levels and contexts. It can operate in a combination of business level, corporate level or network level in industry context, organisational context or international context (Wit and Meyer, 2004, p.14). There are diverse models on strategy and strategic management. However all models focus on the importance of aligning the dynamics of a business system to the dynamics of its environment for meeting its long-term objectives. The goal of strategic management is to gain competitive advantage. According to Wit and Meyer, a business system is the configuration of resources (inputs), activities (throughput) and product/service offering (output) and this configuration is the cornerstone of gaining competitive advantage (Wit and Meyer, 2004 p. 231). There are two broad models on business level strategy. One involves market orientation and the other is focussed on resources. One revolves around the outside-in perspective, while the other is inside-out perspective. Both deal with the ability of a form to acquire competitive advantage (See Appendix I and II). One such prominent strategy model is Michael Porter’s Five Forces model. This assignment critically evaluates Porter’s Five Forces model and compares it with alternative models. Sustainable Competitive Advantage It is important for competitive advantage to be sustainable. But what exactly is competitive advantage and what makes it sustainable? According to Wits and Meyer, â€Å"a firm’s has a competitive advantage when it has the means to edge out rivals when vying for the favour of customers† (Wit and Meyer, 2004 p. 244). Michael Porter argues that competitive advantage is sustainable â€Å"if it cannot be copied, substituted or eroded by the actions of rivals, and is not made redundant by developments in the environment† (Porter, 1980). Wits and Meyer interpret that sustainability is determined by competitive defendability and environmental consonance. Porter’s Five Forces Model The five forces model involves market orientation and is an outside-in perspective. The model proposes that the starting point in determining an appropriate competitive strategy is to understand two dynamic factors, (1) the long-term profitability that determines the attractiveness of the industry in which the firm operates; and (2) the position that a firm occupies within an industry vis-à  -vis its competitors. Porter concludes that neither all industries are equal in attractiveness, nor are all firms equal in achieving levels of profitability with in their respective industry. But these positions change and therefore cannot fully determine competitive strategy. On the other hand, a firm can actually shape both (1) the industry attractiveness as well as (2) its competitive position. By understanding of what he calls as the â€Å"rules of competition† a firm can create an effective competitive strategy that can alter the balance in its favour. According to Porter, five competitive forces determine the rules of competition. These are: The barriers to entry for new competitors The threat of substitutes The bargaining power of suppliers The bargaining power of buyers The magnitude of existing competition As can be understood that all the above forces have a direct or an indirect impact upon how the prices and the cost that make up business operations within the industry. What’s more, the level of investment required by a new comer to get into the industry is also portrayed by these forces. The intensity as well as the importance of these forces varies from industry to industry. But irrespective of the nature of industry the collective strength of these forces â€Å"determines the ability of firms in an industry to earn, on average, rates of return on investment in excess of cost of capital† (Porter, 1985). For example, for an industry with low entry barriers, the magnitude of competition will be higher. Similarly, availability of substitutes deflates the price within the industry. Bargaining power of buyers brings down prices and as a consequence the margins for firms within the industry. Bargaining power of the suppliers has a direct impact on cost and availability of raw materials. For an industry, which is intensely competitive, the margins once again come under pressure. The UK supermarkets are clearly operating in an intensely competitive industry albeit with a certain degree of control over their suppliers. However, this is not entirely true for the airlines industry, which is not only highly competitive, but also has a low control over its suppliers, especially for its most important raw material – the petrol prices. Therefore the pressure is on both ends – the cost as well as the price. Each industry has certain economic and technical features that make up its structure. Industry structure is susceptible to change over a period of time. It is important for a firm to understand the factors that could change the industry structure. It is this understanding that can enable a firm to build an effective competitive strategy that can alter the structure of an industry. Porter argues that a successful strategy is the one that can alter the rules of competition to create a position of advantage for the firm. He states that the merit of the five-forces framework lies in the fact that it â€Å"allows a firm to see through the complexity and pinpoint those factors that are critical to competition in its industry, as well as to identify those strategic innovations that would improve the industry’s – and its own – profitability† (Porter, 1985). A strategy has a potential of altering the industry structure in a negative manner as well. It can bring about price sensitivity, competitive backlash or lowering of barriers that protect the industry and ensure its profitability. A good example of this is the low-cost airlines where pricing is treated as the strategy. ‘Smart’ companies take a long-term perspective while making strategic choices, so as not to destroy the industry structure. Industry leaders whose strategic choices can easily alter the industry structure, due to their size and bargaining power, are sensitive to the fact that an altered structure can have a negative impact on the firm’s own growth therefore a leader needs to show an approach that protects the industry structure, rather than destroy it. The importance of industry structure Two key areas are touched by industry structure. These are: Buyer needs, and Supply/demand balance Buyer needs: Serious firms treat the task of satisfying buyer needs as their core objective. The effort is always to create value for their customers. However, industry structure determines how profitable this effort turns out to be. For instance, two industries that create an equally high value for their customers may have different returns. Entry barriers, threat of substitutes, bargaining power of buyers and suppliers as well as intensity of competition, all these forces influence industry profitability vis-à  -vis customer value creation. Supply/demand balance: This also has an impact on the industry profitability and at the same time is influenced by industry structure in the long term. Entry and exit barriers exert influence as also capacities. For example, in some industries, even a little excess capacity can lead to price wars and therefore lower the profitability. This is being witnessed in the airlines industry. Competitive strategies The objective of understanding industry structure lies in the need to build a sustainable competitive strategy which results in a position of advantage relative to its competitors. The starting point is in value chain analysis that helps a firm to determine the activities which contribute to creating superior value. The goal is to achieve profitability higher than the industry average. Porter argues that based on this analysis, a firm can have one of the three competitive strategies: Cost leadership – by which a firm leverages its scale to bring down the cost of doing business and then passes the benefit to its customers. This is achievable only for firms that display one or more of such features – (1) they operate on a large scale, serving multiple segments and perhaps even operating in complementary industries; (2) have proprietary technology; (3) have â€Å"preferential access to raw materials† (Porter, 1985). What’s more, cost leadership advantage is not at the expense of differentiation and is pursued by seeking cost advantage from multiple operational areas such as marketing, finance, human resources, in addition to production and supply-chain. Porter states that â€Å"a cost leader must achieve parity or proximity in the basis of differentiation relative to its competitors o be an above-average performer, even though it relies on cost-leadership for its competitive advantage† (Porter, 1985). An example is Tesco. Differentiation: This strategy is aimed at achieving uniqueness on attributes that determine consumer preference. According to Porter, this strategy can emerge from product differentiation, distribution system, and/or marketing approach. This allows a firm to charge premium price and can result in a loyal customer base. However care must be taken that the premium price is more than the cost of differentiation as well as is sustainable in long run. Once again, pursuing this strategy does not mean that a firm can ignore the cost element, which is a vital contributor to its bottom-line. An example of this could be Waitrose. Focus strategies – cost focus / differentiation focus: These strategic choices are for firms with narrow target segment. These are achievable only if the â€Å"target segments â€Å"either have buyers with unusual needs or else the production and delivery system that best serves the target segment must differ from that of other industry segments† (Porter, 1985). These are generic strategies across industries and the manner in which these are executed also varies for different industries. Internet and the Industry Structure In recent times, Michael Porter’s five forces model has expanded in scope to include internet and its influence industries. In his article â€Å"Strategy and the Internet† published in Harvard Business Review in 2001, Porter argues that Internet â€Å"tends to influence and alter industry structures in ways to dampen overall profitability, and it has a levelling effect on business practices, reducing the ability of any company to establish an operational advantage that can be sustained.† He states that the seemingly low cost of doing online business is actually artificially depressed as it does not account for many key activities such as inventory and warehousing which are needed to deliver value to the customer. But he also determines that internet has increased the possibilities for firms â€Å"to establish distinctive strategic positionings† that traditional information technology tools could not offer. He concludes that including internet offers a new dimension to a firm’s operations and is unavoidable as a tool in carrying out business. But if real economic value is to be created then internet initiatives must be integrated with the traditional competitive strategy as â€Å"internet per se will rarely be a competitive advantage† (Porter, 2001). Alternative model: Strategy from inside-out This perspective is exactly opposite to Michael Porter’s Five Forces model. Models based on this perspective are focussed on internal strengths and capabilities for devising a competitive strategy rather than scouring external opportunities. The starting point is an assessment of firm’s resources or competences that have been acquired over a period of time. What’s more, if one such resource is not existing within, then how to acquire it? Market positioning is sought in alignment with a firm’s resource based strategy. â€Å"Selected market positions must leverage the existing resource base, not ignore it†¦.for success resources should be leading and markets following† (Wit and Meyer, 2004, p. 252). Two main models have been proposed by leading practitioners of management: Competence based view; and Capabilities based view This viewpoint does not consider just physical resources, but also intangible resources or competences that get uniquely composed within an organisation during its operational span. These could vary from competence in Internet-driven supply-chain management to offline quality process. Firms seeking leadership position make sure that its core competences or capabilities are upgraded on a periodic basis so that competitive advantage is maintained. This is termed as the dynamic capabilities view (Teece, Pisano and Shuen, 1997). It is emphasised that a firm needs to take a long-term view of its competences and take all actions to strengthen these competences. This perspective does not advocate an ad-hoc approach that results in building up of unrelated competences. On the flip side, the challenge is in dismantling of existing competences and building of new competences as market demand changes. One good example of this is the mass-production mastered by American automobile companies could not be transformed swiftly into lean production practiced by Japanese firms such as Toyota, leading to erosion of market share and competitive advantage for giants such as General Motors and Ford. â€Å"†¦companies experience that that their core competences can be their core rigidities, locking them out of new opportunities† (Leonard-Barton, 1995). The perspective is further refined by Miller, Eisenstat and Foote (2002) as they propose the terms â€Å"asymmetries† and â€Å"capability configurations.† According to them, a firm’s asymmetries are it’s â€Å"skills, knowledge, processes relationships, proper ties, or outputs an organisation possesses or produces that its motivated competitors are unlikely to acquire or copy in a cost or time-effective way† (Miller et al 2002). However these can be of disadvantage to a firm unless â€Å"carefully fostered and directed†¦.by leveraging them via an appropriate market focus, companies may be able to aspire realistically to attain competitive advantage† (Miller et al 2002). This is the essence of â€Å"capability configuration† which is a system of reinforcing elements incorporating core capabilities and the organisational design infrastructures†¦Ã¢â‚¬  (Miller et al 2002). They argue that the development process of inside-out strategy is emergent and iterative in nature and is characterised by trial and error. Three imperatives suggested by them for deriving sustainable competitive advantage out of an capabilities model are that firms need to: (1) â€Å"discover asymmetries and their potential†; (2) â€Å"create capability configurations – by design†; and (3) â€Å"pursue market opportunities that build on and leverage capabilities† (Miller et al 2002). Conclusion Both perspectives have their supporters. It is for a firm to decide the perspective that it wants to take for building its competitive strategy. It is suggested that the inside-out perspective has more depth. The argument is that although market-orientation and ability to capitalise on external opportunities are critical factors in a firm’s success, both (1) market-sensing and (2) customer-linking are distinctive capabilities that get cultivated within a firm over a period of time (Day, 1994). At the same time, Barney (1991) argues that resources become the foundation of competitive advantage only once they meet four conditions. They should be â€Å"(1) valuable, (2) rare, (3) difficult to imitate, and (4) difficult to substitute† (Barney, 1991). Appendix I: Outside-in versus inside-out perspective Source: Wit and Meyer, 2004, p.255 Appendix II References: Barney, J.B. (1991); Firm Resources and Sustained Competitive Advantage; Journal of Management, Vol. 17, No. 1, 1991, pp.99-120 Cummings, S. (1993); Brief Case: The First Strategists; Long Range Planning, Vol. 26, No. 3, June pp. 133 – 135 Day, George S. (1994); The Capabilities of Market-Driven Organisations; Journal of Marketing, October 1994, Vol. 58, No. 4, pp. 37-52 Leonard-Barton, D. (1995); Wellsprings of Knowledge; Harvard Business School Press, Boston, MA Miller, Danny; Eisenstat, Russel and Foote, Nathaniel (2002); Strategy from the inside out: building capability-creating organisations; California Management Review, Vol. 33, No. 3 Porter, M.E. (1980); Competitive Strategy: Techniques for Analysing Industries and Competitors; New York: The Free Press Porter, M.E. (1985); Competitive Advantage: Creating and Sustaining Superior Performance; New York: The Free Press Porter, M.E. (1996); What is Strategy’; Harvard Business Review, Vol. 74, No. 6, November-December, pp. 61-78 Porter, M.E. (2001); Internet and Strategy’; Harvard Business Review, March; accessed from Harvard Business Publishing online http://www.hbsp.harvard.edu/hbsp/index.jsp Prahalad, C.K. and Hamel, G. (1990); The Core Competence of the Corporation; Harvard Business Review, Vol. 68, No. 3, May-June, pp. 79-91 Teece, D.J., Pisano, G. and Shuen, A. (1997); Dynamic Capabilities and Strategic Management; Strategic Management Journal, Vol. 18, No. 7, August, pp. 509-533 Wit, Bob De and Meyer, Ron (2008); Strategy: Process, Content, Context – An International Perspective; Thomson, 4th Edition Brief 211514Page 1 of 8

Realities In Macbeth Essay -- essays research papers

William Shakespeare wrote the play Macbeth in 1606. The play tells the story of a man who is so ambitious that he commits treason and murder. His actions are predicted by three â€Å"weird sisters†, and he is also encouraged by his wife, Lady Macbeth, to perform the evil acts that will result in his ultimate demise. Throughout the play the perception of Macbeth’s character and morality are quite different than the reality that the reader is ultimately confronted with.   Ã‚  Ã‚  Ã‚  Ã‚  Macbeth is initially presented to the reader as a hero. He has been fighting courageously alongside Duncan, his king, in defense of Scotland. When the king learns of Macbeth’s fearlessness and aggression in battle, he exclaims â€Å"O valiant cousin! Worthy gentleman!† (Act I ,Scene ii) The king then rewards Macbeth’s bravery and loyalty by bestowing upon him the title of Thane of Cawdor. Unfortunately Macbeth has ambitions of becoming the king himself. This brave hero then gives in to his ambitious desire by committing murder. In so doing we realize that Macbeth is, in reality, a coward. Lady Macbeth actually accuses him of being one because of his hesitation to kill the king. But the cowardliness is in the performance of the act, rather than in the reluctance to act. Duncan is not only Macbeth’s king and friend, he is also his distant cousin. Duncan trusts Macbeth as a family member and is very grateful for his loyalty. The king refers to Macbeth as â€Å"a gentleman on whom I built an absolut...

From Teleworking to E-Work :: essays research papers

From Teleworking to E-Work The following was an invited contribution to The West Berkshire Labour Conference, which was held in July 2000 by Thames Valley Enterprise (the predecessor of the Business Link business development agency). Over the last few years improvements in portable computers and mobile communications (boosted by services from locally based Vodafone) has seen a growth in the use of virtual working and e-working (electronic working). Much of this has happened in an ad-hoc way as managers and professionals simply adapt to working in a location independent manner - in hotels, airport lounges, at home and on the move. This e-conference is an example of virtual working, where previously there would have been a real conference. In other words, business activities that once would have been specially earmarked as telework are now becoming part and parcel of everyday work - but not fast enough. The Aspiration Gap Various surveys show that about 5 per cent of UK workers are classified as teleworkers i.e. they spend significant time working away from offices using telecommunications. Yet the most remarkable finding is that some two thirds of employees would like to telework if their bosses would let them. The challenge, as always, is one of management. Managers must learn to manage at a distance. They must plan and develop work methods that allow - even encourage - employees to work in the most effective settings, which may be at home or in a shared satellite office away from areas of high rents and labour shortages, like West Berkshire. They must learn how to gauge employee's performance by outputs not by inputs (i.e. time spent sitting in the office). None of this is new. There is now over a decade's worth of proven cases where organizations, such as Siemens, Sedgwick, Oxfordshire County Council, have gained significant benefits from telework, and many practical guidelines (see Resources at e nd). Formal Telework Programmes Companies that have fully achieved significant benefits have done so through a formal telework programme. While ad-hoc or informal teleworking will have some benefits (mostly for the employee!), only a systematic approach will gain the organization-wide benefits that are achievable. Simply because someone can use a mobile telephone and portable computer does not mean a) that they are effective as they could be; and b) that the organization's work system as whole is optimized. A typical formal programme has the following elements:  ·Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  A focused programme team with representatives from different parts of the business and specialists in the disciplines needed - technology, change management, work design etc.

Difficulties of Beginning your own Business (Case Study)

Facts: After 20+ years of working for other firms, Penelope (enrolled agent, age 41), Mark (CPA, age 43), and John (CVA, age 65) want to leave the firms they are currently employed by and become their own bosses. Penelope specializes in taxes, Mark is the auditor, and John is a business valuation expert. There are so many options available as to how they can structure the new business. The appropriate business entity for any individual(s) will depend on their particular facts and circumstances. You are a valued colleague and friend of this threesome, and they have come to you seeking advice as to how to structure their new business.They have the knowledge to figure it out themselves but are looking for the advice of an unbiased third party. Please consider the following tax and nontax considerations as you recommend an entity choice to Penelope, Mark, and John.Part I: Discuss the various forms of organization that are available to Penelope, Mark, and John. There are a number of diffe rent forms of organizations for Penelope, Mark, and John to choose. The four main ones are a partnership, Limited Liability Corporation (LLC), S Corporation, or C Corporation. In a partnership all partners are personally liable for debts and obligations. Each partner claims their share of income and losses on their individual tax returns. An LLC covers the owner from personal liability from business debts. As with a partnership, the taxes for an LLC are passed through to the owners. An S Corporation, as with an LLC, the income and taxes pass through to the owners. C Corporations are considered separate entities and pays corporate income taxes separate from the shareholders. With a C Corporation, the shareholders are also taxed on the dividends received.Part II: Make your recommendation as to what form of organization you believe will be best, and be sure to explain the reasoning for your choice. The best organization for Penelope, Mark, and John is a Limited Liability Corporation (L LC). The owners will receive the benefits of limited liability as with a corporation, but the pass through option for the taxes. The LLC is not considered a separate entity so is not subjected to double taxation.Part  III: Discuss the tax consequences of contributing cash, property, and/or services to the new entity. There are no tax consequences for the members of the LLC for contributing cash, property, or services.Part IV: Discuss, in detail, how this entity is taxed (if at all) and what filing requirements it has with the IRS. A multi-member LLC is taxed as a partnership by the IRS. The LLC can elect to be taxed as a corporation by filing form 8832. The LLC files an informational tax return, Form 1065 and Schedule K-1, but is not taxed itself. Individually each member files a Form 1040 and reports their share of the LLC income or losses from the Form Schedule K-1. Each member must pay taxes, which include self-employment tax, on their share regardless if any income is distribu ted. (IRS.gov)Part V: Discuss how income and distributions may or will be allocated to Penelope, Mark, and John. The profits are shared based on percentage of ownership or equally. This needs to be decided during the set-up.Part VI: Discuss, in detail, how the individuals are taxed (if at all) with respect to the net profits from this entity and what filing requirements they will each have with the IRS. With the LLC the individual partners are liable for filing their own personal income taxes based on the guidelines of the IRS, which will include self-employment taxes and any estimated taxes. The individual return Form 1040 will also include a Schedule K-1. All credits and deductions are passed through to each member. The amount of the credits and deductions that each member files for are divided by the percentage that each member has in the company.Part VII: Discuss how Penelope, Mark, and John will calculate their basis in the new entity. Be sure to include the impact that debt ha s on basis, if any. When a partnership interest is acquired in other ways than contributions, usual basis rules apply (Code Sec 742). Since the cost is the initial basis of purchased interest it can be adjusted by the following criteria; additional contributions, partnership’s accumulated taxable income as stated separately ( ¶ 19.3), tax-exempt income from the partnership, increases in the partnership liabilities. (Code Sec. 752(a)).Part VIII (Limited Liability): Discuss the exposure that Penelope, Mark, and John's personal assets will have to the debts and lawsuits of the entity you have recommended. All personal assets of the members of the LLC are covered by the limited liability. If the company is ever sued the personal assets are protected from being taken. In choosing the Limited Liability Corporation,  Penelope, John, and Mark will be protected personally from any misconduct or illegal actions of one of the other members. Each one will be able to how to contribute and manage the company. Also, by choosing the LLC option, the company and members will not be subjected to double taxation. An LLC has no limitation on members as with an S and C corporation, but have the protection. Penelope, Mark, and John will be able to focus on their individual experience to help grow the company as needed.

School Does Not Prepare You for Life

It is argued that school is designed to teach individuals how to teach themselves, but many scholars who study the state of academia would argue this is not the case. It is a common belief that the western private schools and universities are industrialized markets more focused on their profit margins, and pleasing parents, than preparing their students for the real world. The public school system is even worse off in that their infrastructure and supplies are largely dependent on the average income tax of their local communities, which in most urban areas barely makes the grade. Not often considered to be a home for organizations, the schooling industry in the United Kingdom has become a major source of profitable income. A national curriculum is mandatory in all state schools in England, Wales and Northern Ireland and for virtually every student up to the age of 16. It is organized by the Qualifications and Curriculum Authority (QCA) and its partner authorities, the Qualifications, Curriculum and Assessment Authority for Wales and the Northern Ireland Council for Curriculum, Examinations and Assessment (CCEA) (HayGroup, 2006). The main aim of the national curriculum is to raise standards, making sure all children have a broad and balanced education up to the age of 16. In the past, many students dropped important subjects like modern language or science at 13 or 14 (Boone, 2006). If these mergers become successful, no different from major corporations, they mean expanded profit margins for whoever holds the asset. These schools are already considered financial assets, through the increase in property value around them, whether the property is owned by the government or privately owned (Boone, 2006). This is not a major issue for public schools, but when you consider privately owned schools, or Universities, the profitability of these corporations pedaling degrees must be realized. More often than not, these Universities are considered to be doing a common good, and therefore held in the charitable status tax bracket, where they are to very minimally taxed. This leads to more profit gains, and less reason to complicate the curriculum even if it fails to serve its purpose. In her essay, From Social Class and the Hidden Curriculum of Work Jean Anyon identifies the hypocrisies in the education system. One of her major points is that in the higher income classrooms the majority of the students’ parents are executives, and only 10% are minorities. A common finding in her research is that the working class schools lack the necessary materials, or faculty, to be considered equal with the other school systems. Anyon also argues that the curriculums are different. students in different social-class backgrounds are rewarded for classroom behaviors that correspond to personality traits allegedly rewarded in the different occupational strata – the working classes for docility and obedience, the managerial classes for initiative and personal assertiveness. (Anyon, 1980) The defining line of the difference between what Anyon considers to be the executive curriculum and the working class is that the use of efficient learning methods verses inefficient forms. Historically, the most efficient form of learning used in the west, more so than textbooks, is the field trip; this is also known as project based learning (B. I. E. , 2002). It is also a very expensive learning tool, which is why most lower class curriculums are deprived of it. Project based learning has a long lived tradition of learning through the use of field trips, labs, investigations and other projects. It is considered to be a substantial method of teaching. The belief that drives this form of instructions revolves around the idea that students will be more liable to gain interest in curriculum that they can connect to their surroundings. Just studying the work in a text can grow to be mundane. When she analyzes elementary and secondary classroom curriculums, she finds a methodology very different from what is inherent in Project based education. Anyon discovers that the majority of contemporary textbook instruction is designed for the working class. PBL programs are usually not supported in public schools because they are too expensive. This difference is usually applicable to public schools and whether one is located near high income housing or low income housing. In sum, the school system in the U. K. suffers from capitalist interests, so much so that it fails to prepare its students for the real world. A lack of project based learning in lower income schools deprives the majority of the U. K. population of having real life instruction. Likewise, the upper class institutions that Anyon refers to, while they prepare students for executive positions, they handicap the students from ever being able to handle manual labor in the real world (Anyon, 1980). The end result is a generation of students that are socioeconomically segregated and that lack the necessary resourcefulness to survive on their own. School systems today produce students who are reliant on major corporations to employ them for skills they were predisposed to having.