Saturday, May 23, 2020

Budget and Budgetary Control Practices in the College of...

BUDGET AND BUDGETARY CONTROL PRACTICES IN THE COLLEGE OF TECHNOLOGY EDUCATION, KUMASI 1.0 BACKGROUND OF THE STUDY Universities and colleges need to recognize that they too are businesses (Dr. Brendan Nelson, 2002). Investors, senior executives and the business community have long sought for ways to better control the companies and enterprises they run. As part of a broader micro-economic reform of the public sector, the higher education sector has been targeted for its perceived role for improving the economic status of a nation (Currie Vidovich,1998; Marginson, 1997b). Government skeptical about the effectiveness and efficiency of University operations have issued policies and undertaken reviews of the sector with the intention of†¦show more content†¦These budgets from different units, subunits and other sections are incorporated into a master budget period of implementation. In the course of implementation, actual results are compared with budgeted, variances are noted and appropriate measures implemented for correction. In the view of Garrison and Noreen (2003) this is what budgetary control is all about. This suggests that for effective budgeting to be realized budgetary control must be an accompanied tool. According to Anthony and Young (1999) budgeting and budgetary controls though important for all organizations, it’s more important in non- profit making organization than in profit making organization due to its cost structure and spending flexibility. 1.2 STATEMENT OF THE PROBLEM Budgeting and budgetary control practices are employed by many institutions to ensure the orderly and efficient running of their operations as well as compliance to management policies and internal control practices. Every organization develops a set of goals such as 3 profitability, growth and other with the hope of achieving them in the face of limited resources. Economic theory however states that an organization should conduct itself in a certain economic manner to be able to ensure an optimum allocation of resources for any anticipated objective to be achieved (McConnel and Brue, 1999). Managers who have opted and practiced budgeting and budgetary control are of the opinion that theShow MoreRelatedLiterature Review on Training and Development8683 Words   |  35 Pagesstress on human resource training and development (HR Tamp;D) to provide strategic and cost efficient training services for employees has never been higher.Employee performance expectation keeps rising while the economic recession has caused training budget to shrink causing the Human Resource Training and Development unit to do more with less. Training and Development helps in optimizing the utilization of human resource that further helps the employee to achieve the organizational goals as well as

Monday, May 18, 2020

Let’s just assume that the ultimate goal of United States’...

Let’s just assume that the ultimate goal of United States’ absolutely vile public school system is not to create an army of mindless, insipid, obedient workers that specialise in the completion of mundane and menial laborious tasks to help blindly build a malevolent dystopian corpocratic regime. But shocking and uncomfortably plausible conspiracy theories aside, let us begin by observing and acknowledging the massive flaws of the US’ public education system. There are several aspects surrounding the reasons and evidence of the belief that massive dysfunction, the incursion of the 13th amendment regarding compulsory education, and largely useless content being taught in school is overwhelmingly relevant in the modern school system;†¦show more content†¦Your first sentence, dear imaginary carper, is entirely and undeniably correct; of course children require education, and of course, education is necessary for the development of their cognitive processes. How could I deny this? Notice the fact that nowhere in that statement did I say that compulsory education was necessary, helpful, or even morally legitimate; and the current methodology of education in the United States is entirely corrupt and unhelpful to overall mental development, which I will cover latterl y. Onwards to the second portion of your rebuttal, wherein you imply that schooling, as it is, directly benefits these soon-to-be working adults in their endeavors as working adults. While I will admit that, as mentioned above, education as a concept will no doubt encourage intellective competence, and therefore existing public schools somewhat aid skills in a professional setting, schools are absolutely terrible at this task in the grand scheme of things. If this is truly what public schools nationwide hope to achieve, preparing students for their adult lives and subsequent employment (which seems, to me, at least, very unlikely given their massive amount of failure on this front) then why don’t there exist courses on how to do your taxes, how to ace a job interview, or even just how to work, and I mean really work, not just solving endless streams of mathematical equations or writing

Tuesday, May 12, 2020

Personal Analysis On Being Cripple By Nancy Maris

Managing uncertainty of life can be quite a challenge if it is being approached incorrectly. When life throws you unexpected curveballs it can knock you off your feet and have you feeling disoriented. To remain balanced, human beings need to push through the obstacles and flip the situation to their own advantage in a positive way. In order to be able to handle various complications during life human beings must practice accepting the reality of problems, learn to look at life in a positive aspect by searching for light in darkness and being optimistic that things won’t always be affecting you negatively. Take everyday as a blessing because often hardships shape who you are today/ learn from them. Don’t take life for granted because†¦show more content†¦The author wants to demonstrate to the readers, that even though this woman has a disease, she isn’t bitter about it because she learned to accept that she can’t change nor would she want to change who she really is. The number one coping mechanism to complications that you necessarily can’t control is being able to affirm reality and not manipulate the situation to what you’d like it to be. We are only given one life and throughout that life human beings gravitate to taking everything for granted. Humans don’t realize that we must embrace each day with a positive mindset because anything can happen at any given moment. In the essay, â€Å"Feet in Smoke† by John Jeremiah Sullivan is referring to two brothers which unfortunately one of them undergoes a very unexpected and sudden death. Managing uncertainty of life can be quite a challenge if it is being approached incorrectly. When life throws you unexpected curveballs it can knock you off your feet and have you feeling disoriented. To remain balanced, human beings need to push through the obstacles and flip the situation to their own advantage in a positive way. In order to be able to handle various complications during life human beings must practice accepting the reality of problems, learn to look at life in a positive aspect by searching for light in darkness and being optimistic that things won’t always be affecting you negatively. Take everyday as a blessing because often hardships shape who you are today/ learnShow MoreRelatedStephen P. Robbins Timothy A. Judge (2011) Organizational Behaviour 15th Edition New Jersey: Prentice Hall393164 Words   |  1573 PagesPersonality? 147 Point/Counterpoint Millennials Are More Narcissistic 155 Questions for Review 156 Experiential Exercise What Organizational Culture Do You Prefer? 156 Ethical Dilemma Freedom or Lack of Commitment? 156 Case Incident 1 Is There a Price for Being Too Nice? 157 Case Incident 2 Leadership from an Introvert’s Perspective 158 6 Perception and Individual Decision Making What Is Perception? 166 Factors That Influence Perception 167 165 Person Perception: Making Judgments About Others

Wednesday, May 6, 2020

My Experience At My Life - 741 Words

September 14th, 2011, the last day I have in Manado, Indonesia. My family and friends were in the airport, waiting for me, while I was checking in my luggage. When I went back, all of my friends were standing and smiling at me. I know they were sad, but they tried to cover it with their smile. I gave each one of them a t-shirt that has writing about them, and they gave me the same thing. We talked, laughed, and joked around until it was time for me to go. Tears were falling down on their cheeks, when they heard that it was time for me to go. I gave my family and friends a hug, and went to the terminal. My journey started, when I got in to the airplane. It was a long-long journey, I thought, because it took hours to get to Los Angeles. I was excited at first, but then sad again when I think about home. I was crying while I was on the airplane, thinking, how my life is going to be in Harbert Hills. I had some stops. The first stop was at Changi Airport, Singapore. We have to stay there for a night, until the next flight (the next day). The airport is really nice and clean. They have free internet, a free place to rest, and it is very safe too, so I do not have to worry about my suit case. I was on the computer most of the night, checking my e-mails and Facebook. I could not sleep that night, because I was thinking about my life at home, and again, how is it going to be in Harbert Hills. The second stop was at Narita Airport, Tokyo, Japan. It was only 45Show MoreRelatedMy Experience In My Life742 Words   |  3 Pagesone has a perfect life or even a perfect family. At times I have experienced what losing someone or something that meant so much to me. I always wondered to myself about why these situations happen to me, which also led me to put myself in a depression stage. My father was diagnosed with liver cancer and infection in his stomach area in March 2015. As he was in and out of the hospital. First, Growing up I never had a good life but I was lucky to have both of my parents in my life. It was a bond withRead MoreMy Experience In My Life1013 Words   |  5 Pages At this point in my life , if i review my previous experiences i would say that i am fairly pleased. Ive been able to gain numerous life and academic skills through hard work and determination. Though many of my experiences havent been pleasant ,in a way it has helped me grow and build my character as a person. As individuals we all go through many harsh obstacles , obstacles we sometimes think we will never overcome . but eventually we do . right ? think about it evenRead MoreMy Experience With My Life1356 Words   |  6 Pagesdo not have an abundant number of passions myself. In fact, as I think about it there are really only two subjects of interest that I feel rise to the level of passion for me; my God and sports. These two areas have been integral parts of my life for as long as I can remember. I grew up in the church and much of my young life was spent either there or on a sports field of some sort. These two institutions, I feel have shaped me into the adult that I have become and the career I feel myself called toRead MoreMy Experience On My Life1202 Words   |  5 PagesAll I could think of sitting at my desk at work was about the conversation me and my husband had the night before. I sat there staring at my computer screen wondering if it was the right thing to do, or was I just wasting my time on a hope long forgotten. The hours slowly ticked by, and everything I was working on with my customers and their loans were a blur. I couldn’t get that thought out of my head. It was eating away at me. This is something that I have wanted for a long time. I put it on holdRead MoreMy Experience In My Life942 Words   |  4 PagesThroughout a person’s life, there can be many things, such as friends and family, education, or sports, that help them develop skills to turn them into the person they are today. Without these different skills, it can possibly lead to a lower standard of living, which is not what we strive for. The thing that helped me develop my unique skill set that I can use through the rest of my life, which is also my cultural artifact, is a football. Football has taught many different things that I am ableRead MoreMy Experience In My Life905 Words   |  4 Pagesmajority of my life I have belonged in the little world , stretching from Chicago to Cleveland and South Bend to Nashville. The boundaries of my known world have always felt like a limiting factor in my life. While my friends ventured to far away lands every year, I would spend the night at my grandparents house or we would make a day-trip to a city. With spring break approaching my family and I were going to change that, we were going to South Carolina. One dreary cold Indiana morning my family andRead MoreMy Personal Experience : My Experience In My Life1003 Words   |  5 Pagesdifficult to write about my life—not because I do not know what to say, but because I am often fearful of sharing my experiences and having them impact how people view me. My identity and upbringing are not necessarily unique, but I have been in situations that society tends to be uncomfortable with. Repeated sexual assaults, psychological abuse, neglect, and financial hardships are factors in my life that I tried to forget when I started college. Now that I am at the end of my undergraduate educationRead MoreMy Writing Experience : My Experience In My Life921 Words   |  4 PagesAs a Human, throughout life there are many skills that are critical to acquire, during childhood and as you become older. One of the most important and useful skill you will need is writing. From first, learning to write words and sentences, to more advanced writing like essays. Everyone learns to write a little differently, some ways are learning from your parents or learning words and letters in kindergarten. As you get further down the path of life you develop higher skills of writing. As peopleRead MoreMy Experience On My Life953 Words   |  4 PagesThe wind was slicing through my hair as my sweat was dripping off my metallic purple frames. I placed each foot on each of the pedals and took off. My whole world was filled with the rattling sounds coming from the dreaded training wheels. Everything would always come to a stop whenever I would hit each bump. â€Å"I need to get these thing off!† I thought constantly. The training wheels were such a nuisance because they gave me a wobble that kept me off balance, and they provided no extra speed. ThereRead MoreMy Experience In My Life1850 Words   |  8 Pagesthrough while growing up and forming into the person I am today. Going through all the experiences I have gone through, I didnâ€⠄¢t realize how much they would impact me today and serve as lessons. Today I am a freshman in college. I did not think I would make it this far. The precious gift of life is to enjoy every moment as if it is your last. May 12, 2007. Boom. A sound I will remember forever. My eyes are wide and my jaw drops. I can’t believe what I’m seeing. Let’s start from the beginning. On this

Healthy Lifestyle Final Research Report Free Essays

Life SLEEP AND HEALTHY LIFESTYLE 1 Sleep and Healthy Lifestyle National University of Singapore Undergraduates Profile Jiexuan Wang SM2 Group 1 National University of Singapore SLEEP AND HEALTHY LIFESTYLE 2 Sleep and Healthy Lifestyle National University of Singapore Undergraduates Profile Sleeping, along with other healthy life habits has arisen awareness in recent years. As will be stated later, the majority of university undergraduates rarely took healthy living seriously. University students have long been known, as claimed by Dement (1997), to burn the midnight oil and maintain an unhealthy lifestyle, which could be potentially hazardous to their health condition. We will write a custom essay sample on Healthy Lifestyle Final Research Report or any similar topic only for you Order Now Apart from dozing off in the class, sleeping deprivation and poor sleeping quality led to many long-term effects on the health conditions. Recently, we conducted a survey among the National University of Singapore (NUS) undergraduates to explore their knowledge of healthy lifestyle and sleeping habits (see Appendix A Interview Questions). The research mainly covered the concept of a healthy lifestyle, the sleeping hours and rituals. The aim of this paper is to reveal the general sleeping and healthy lifestyle conditions among NUS undergraduates and to revoke awareness on the healthy lifestyle and sleeping issue. Methodology The primary evidence was collected from our interviews, and several related materials were analyzed as subsidiary resources. We conducted face-to-face interviews and recorded down the responds from respondents. Six faculties were involved in the research, including Faculty of Science, Faculty of Art and Social SLEEP AND HEALTHY LIFESTYLE 3 Science, Faculty of Engineering, Faculty of Business, School of computing and School of design and environment. Because of the limitation of the research method, we have only covered 96 respondents in our research. Results and Discussion This research covers the concept of a healthy lifestyle, sleeping deprivation and other related perspectives. The result is to some extent in accordance with our expectation, but some of the problems of sleeping disorders and deprivation have grabbed our attention. This section will discuss these topics in detail. Healthy lifestyle concept The concept of a healthy lifestyle may vary according to different people. From the research, it is clear that sleep, nutrition and exercise are major contributing factors, with some of the respondents emphasizing the importance of scheduled and balanced lifestyle. However, they could only give an idea of the concept without knowing further about this topic. The following Figure 1 presents an idea of the respondents’ understanding of healthy lifestyle. 71 4 5 5 6 4 8 1 1 80 60 40 20 0 42 51 Figure 1 Healthy lifestyle Concept of NUS undergraduates number of espondents SLEEP AND HEALTHY LIFESTYLE 4 Sleeping hours Scientists accentuate the importance of length of sleep, suggesting a six to eight hours of sleep every night. Insufficient sleep may lead to diminishing productivity, tendency to make mistakes and most dangerously, unintended sleep. Figure 2 shows the sleeping hours among the respondents. The percentage of sleep deprivation among NUS undergrad uates is sobering. 18 out of 95 respondents stated that they have less than 6 hours of sleep each day, and as one of the respondents added, â€Å"There were many students dozing off during lectures. In addition, some of the respondents gave details of the sleeping time at night, ranging from eleven o’clock to two or three o’clock in the morning, and even shockingly, four or five in the morning when there is no lecture in the morning. However, noting that our biological rhythms work just the other way around, the sleeping habits of the majority of undergraduates are unhealthy. Reports (Fredrik, 2007) indicated that the period of 11 o’clock in the evening to 3 o’clock in the morning is when the body goes through a detoxification process and any time between 5 o’clock to 7 o’clock in the morning is suitable for defecation process. 0 60 40 20 0 below 6 sleeping hours 6 to 8 above 8 18 5 72 Figure 2 Sleeping Hours among Undergraduates in NUS SLE EP AND HEALTHY LIFESTYLE 5 Sleeping Rituals Sleeping rituals could affect the sleeping efficiency and quality of sleep. Figure 3 illustrates the major sleeping rituals among the NUS undergraduates. One major factor is eating. Eating before bedtime has been a long-discussed topics among scientists. It is a two-edged sword, for sleep-benefit drinks such as a cup of warm milk can improve the efficiency of sleep while most snacks taken before bedtime are well known to be weight gaining. Interviews with respondents reveal that most of them will choose to eat before bedtime if they are hungry. However, burning the midnight oil easily contributes to bedtime eating habit. Besides, scientists claim that eating within three hours before bedtime is unhealthy (Taft, 2012). The research also reveals that the second most favorable activity before bedtime is to exercise, which was proved to be beneficial to the improvement of sleeping quality, as stated in (Wooten, 2007). Among other common sleeping rituals, recreations like movie watching may cause an excitement before sleeping time and resulted in sleeping disorder. number of respondents Exercising Chatting Set Alarm Shower Go Out Listening to Music Reading 25 12 12 9 37 1 1 3 2 1 16 15 15 19 Figure 3 Things NUS Undergraduates Do before Sleep SLEEP AND HEALTHY LIFESTYLE 6 Conclusion The research reveals that the majority of undergraduates have a relevantly clear concept of a healthy lifestyle and that the sleeping pattern of the majority of undergraduates is reasonably healthy. The overall results from each faculty were mostly the same (see Appendix B). However, when it comes to sleeping hours and sleeping rituals, much can be done to improve the quality and efficiency of sleep, in order to avoid impaired performances and unintended sleep during daytime. The significance of the study of sleeping patterns is obvious, for it reveals the healthy condition of undergraduates and possibly revokes awareness of sleeping issue among NUS undergraduates. (846 words) SLEEP AND HEALTHY LIFESTYLE 7 References Fredrik, P. (2007). When is the Best Time to Sleep?. Retrieved November 30, 2012 from http://www. ineedmotivation. com/blog/2007/10/when-is-the-best-time-to-sleep/ Taft, W. (2012). Stop eating three hours before bed. Retrieved November 30, 2012 from http://willtaft. com/eat-at-least-3-hours-before-going-to-sleep/ Dement, W. (1997). Sleepless at Stanford. In What all undergraduates should know about how their sleeping lives affect their waking lives. Retrieved November 30, 2012 from Stanford University, Center of Excellence for the Diagnosis and Treatment of Sleep Disorders Web site: http://www. stanford. du/~dement/sleepless. html Wooten, V. D. (2007). Discovery Health: â€Å"How to Fall Asleep†. Retrieved November 30, 2012 from http://health. howstuffworks. com/mental-health/sleep/basics/how-to-fall-asle ep. htm SLEEP AND HEALTHY LIFESTYLE 8 Appendix A Interview Questions 1. What is your concept of a healthy lifestyle? 2. What do you think are the factors that represent a healthy lifestyle? 3. Do you think that sleep is essenti al in maintaining a healthy lifestyle? Why? 4. How much sleep do you normally have? Is it any different during examinations? 5. Do you have any leeping ritual- ­? a series of actions that you usually carry out- ­? before going to sleep? How long does it take you to do this? 6. Do you eat before bedtime? A. What food/drink helps you to sleep? How does it help you to sleep? B. What food/drink prevents you to sleep? How does it prevent you to sleep? 7. Do you exercise before bedtime? What type of exercise do you do? How long does it take you to do this? 8. What other activities do you do before sleeping? Do/does these/this help or prevent you to sleep? SLEEP AND HEALTHY LIFESTYLE 9 Appendix B Research Data (Original) How to cite Healthy Lifestyle Final Research Report, Essays

Is Digital Marketing the Way Forward in Marketing

Question: Write an essay on Is digital marketing the way forward in marketing?The essay question to be addressed through research and review of the contemporary literature inthe topic area: digital marketing. Answer: Introduction This paper shows and discover around the digital marketing as well as route of forward in the marketing. Many researches gave many views on it such as some said that digital marketing is a way forward, but some researcher said that they are unsure about way forward. So, we would present different researcher view about them. The main objective of this paper is to evaluate that digital marketing is the way forward for marketing or not in the current scenario. Indeed, digital marketing is a marketing which use the electronic devices such as computers, cell phone, tablets, smart phones and game consoles to involve with stakeholder. Digital marketing can through non internet channels such as SMS, TV, Radio, Social media, E-mail, Banner ads etc. Social media marketing is the part of digital marketing. Digital Marketing Institute defines the digital marketing as the use of digital channels to promote or use of market product and services to consumer and business purpose. The digital marketi ng term was used in the 1990 and its becoming more important for create a relationship with the consumer in the depth and relevant manner. (Kaufman Horton 2014) Digital marketing also called internet marketing but their actual position is different from it as digital marketing is related to targeted, interactive and measurable. Email marketing, SEO (search engine optimization), PPC (pay per click), social media, online advertising, affiliate marketing, text messaging, blogging news feeds and viral marketing are the elements of digital marketing. (Miller 2012) Indeed, forward way means the new approach or reinvent. Further, marketing is communicating the values of product and service for the purpose of the increase sales for specific product and services. Digital marketing tools such as email, internet, digital newspaper, T.V. and radio are interactive medium for marketing. These types of tools are able to target a particular market that firm wants to target for enhancing customers . Digital marketing the way forward or not in marketing The relationship between the digital marketing and way forward in marketing or not is described through literature review. This paper discuss about the digital marketing forward way structure. These are brief explanation about the literature of digital marketing that are following below:According to Lee, advertising is the most important way to increase performance of the firm. It is because advertising is an interactive process which exchanges the information of the firm to its customers. There are many components which increase scope of the digital marketing in the automotive industry such as IT sector. (Lee et al 2009) Ford motor made restructuring plan in 2006 which known as The Way Forward. Bucy also favor the perception of Lee and determine that use of digital marketing increase the performance of the organization. Knowledge exchange is the main elements which effects decision marking of the customers supports the organization to include innovation in their marketing strategies. Knowledge exchange became simple by digital marketing because it can gain the data about the firm product and services. Knowledge exchange or sharing is also supportive to the firm for improving their product and services if there is any mistake that raises problem to the customers. So, knowledge is becoming significant in global environment that also pressure the organization to develop effectiveness of their marketing strategies and scope of digital marketing. (Bucy 2004) Revere et al also support the Bucy perception and explains about digital knowledge management system. Digital knowledge management is significant to capture, distribute and apply the concept in the firm for their marketing p urpose. Therefore, digital knowledge management raises the scope of digital marketing in the automobile industry. It is because firm which is related to automobile industry have many features for their product to sale in the market. Customer cognition or knowledge is supportive to display information about the feature of their product or services effectively and efficiently. Customer can increase their cognition about product by digital marketing because it uses audio, video and other kinds of techniques to advertise the brands. (Revere et al 2007) According to Wymbs, social media is an effective to place wider scope for digital marketing. Social networking sites are supportive to create many benefits for the firm. It is because social sites support to advertising the brands and to reach their customers by sharing the data and idea in a cost effective manner. Further, digital marketing services would be improve with search engine optimization (SEO) which is significant to get correct solution. These correct solution are able to reach potential audiences in the cost effective manner that makes the firm financially strong. (Wymbs 2011) Organizations are using the digital marketing because it is an easy process to determine the technological features of the product as compare to traditional media sources. The beauty of digital marketing is the caliber to target and measure results so it is becoming effectives for any firms. In addition, Kiang depicted that online social media has changed through altering dynamic environment. It is also explains in this paper that effectiveness of online marketing media depends on the inputs of user community. Firms should follow customers and market trends carefully otherwise it would affect negatively on brand image of the organization. (Kiang et al 2000) Sharma said that digital marketing depicts to the marketing or promotion of products by the television, radio, internet etc. Digital marketing enhances the competitiveness for the firm through analyzing demand of the customers and to increase their satisfaction. Organization should use digital marketing system to convey the customers and try to maintain the relationship with them. (Sharma 2002) Globalization is the elements that increase the scope of digital marketing at worldwide. Globalization allows firm to extend their business operation from domestic market to international market. According to Prashantham, globalization raises the scope of digital marketing geographically in the international market. The firm can launch their products in the international market through using digital marketing. (Rhee 2001) At the same time digital marketing is an effective for the firm to provide information from several routes so it enables to offer huge variety product or services. Therefore, it is simple way to reach potential customers that is possible through digital marketing. It also plays an important role in many areas such as customer services sales, public relationship and information management. On the basis of literature review of digital marketing, we would discuss chief marketing officer (CMOs) perception about the way forward and they believes that digital media is way forward. The marketers all participant agreed that the digital marketing is the way forward. The general belief among the team member was that engagement, interactivity and measurability are making the marketers look at it far more seriously nowadays. When they used the digitally based on product life cycle their brands. Andre Campbell is the chief marketing manager in the Reliance Industries said that when all customers might not purchase online, they used digital way to be better informed. Andre Campbell said retail is all about value, growth, services and trust, but over the years this perception has been changed now and digital marketing supports to create a bound with the consumers. (Koleszar 2013) From the Andre Campbell statement we concluded that digital marketing is way forward in the marketing because earlier mostly used print marketing, but in the globalization chief marketing officer adopting digital advertising in marketing perspective. Reliance groups stated online buying opportunity through home delivery service. Customer need to pay when they got parcel in the hand about their desire product or services. Andre Campbell has good experience as well as marketing concern in the several organizations so its commitment and statement is valuable for marketing way forward concern. Further, Vivek Nayar the chief marketing officer at Mahindra Mahindra said that content is the key success of digital marketing because it allows multiple points for brand storytelling. Digital marketing has created consumer to strongest person for a brand. He presented some useful example to establish that digital marketing supports in better customers engagement and association. (Carver 2009) Mahindra Mahindra is a fastest growing company which uses new and creative product, technologies to explain market dominant with the use of internet. Mahindra Mahindra can use many design and process for the advertising of their product that can be done perfectively by digital marketing or media. So, creativity is also a factor which increases range of using digital marketing digital media. However, creativity is enhancing the field of digital marketing because Mahindra Mahindra want to advertise their new and creative products to a huge population in an effective route to raise its custom er oriented and market share. Further, Vivek Srivastav marketing head of Renault India said that digital marketing helps a brand to create affect and measure which cant be gained through traditional marketing such as print and mass marketing. Renault India provides features evaluation and online buying opportunity to their customer through sites. These sites and other internet sources are supportive to expand massage of the Renault India among customers and to create more opportunities. Therefore, a digital media system in the Renault India is helpful to increase customers experiences, facilities learning and to improve staff productivity. We need to book buy order online and they will provide home delivery of their product and services. In addition, Rajan Anandan is the chairman of the Internet and Mobile Association of India (IAMAI) noticed that India is the evidence of great increase in research online shop offline and at the same movement e-commerce sites are doing good level business. IAMAI said that online marketing is projected to reach Rs 2938 crore in 2014. India is the fast growing countries in the worldwide as well as digital marketing concern because India is rising in the education sector and people are using digital devices such as tablets, smart phone and phone which helps to connect social networking sites such as Facebook and Twitter. So, Indian base organizations are using digital marketing and we can say that digital marketing way forward in the Indian market perspective. Further, approach or face of the digital marketing always changing such as fashion. (Koleszar 2013) We would discuss the digital marketing trends to evaluate the way forwardness in marketing. So, these are following trends which d escribe below: Google plus- a phenomenal rise: Google launched Google plus in 2011. This is very innovative creation of Google. Initial stage they had slow start, but soon people saw the potential of Google plus in the all over the world. There are 500 million users of Google plus and its user are expanding constantly. It can impact the marketing strategy due to 90 percent of worlds daily search traffic and single handed. (Puzhar 2014) Linked In- the way forward: it is first business networking tools which gained high momentum and constantly to perform excellent with the users expectation. Innovative blogs posts: Innovative blogs affects the business and attract the consumer to buy their product and service from market. When people use internet, then good blogs attract to buy their product or services. (Puzhar 2014) While some professionals view on the digital marketing that they are unsure about the way forward in the marketing perspective. Most of people accept that they wanted to adopt new idea or reinvent itself, but they dont know how to get it because only few people knew that how to get it. Research data says that 40 percent marketers know that they want to reinvent themselves, but only 14 percent people know that how to go about it. This research based on more than 1000 marketing professional qualified people in US. Further, 64 percent marketers wanted to change their role in upcoming years and 81 percent think that their role will change in next three years. But reinvention path still a challenges for marketers because around 30 percent of cited still facing lack of training in new marketing skills. (Sangameshwaran 2014) Furthermore, if we describe the marketers for further 12 months perspective from now. Then, we got that 54 percent of marketers said they must take more risk and 45 percent wanted to take more risk themselves. 65 percent said that they are comfortable to adopt new technology once they become part of the mainstream. However, marketers wanted to play safe game when they adopted new technology. Moreover, those marketers are highlighted which spend more than 25 percent of their marketing budget on digital marketing as compared to those are not spending more than 25 percent. High digital marketing spend capacity organizations are believe that they wanted to reinvent themselves to succeed as compared to low digital spend organization. High digital spend potential organizations are three times said that they know how to reinvent themselves as compare to low performance. (Greenberg Kates 2013) In addition, Chief Marketing Officer of Adobe Mr. Ann Lewnes said that the shift to digital require new technology, new approaches are totally new role for marketers and they are not familiar with them. The good news for marketers is to that they saw the change in front of them and they need to embrace figures or data. They focus on creating personalized experience and work across web, mobile channels and social. Most of marketers wanted to more data for focused to succeed, but 49 percent reported trusting my gut to guide someone else that where to invest their marketing budget funds. 72 percent marketers accept their long term success is jointed to providing marketing return on investment. Further, 74 percent marketers said that capturing and applying data to inform and force marketing activity is the new real world and 69 percent wanted to embrace hyper personalization with the use of data to provide services, right products and content at the right time. However, only 39 percent m arketers are using the consumer data and nature to shape marketing strategy in the last 12 months and 45 percent marketers made a plan to use more consumer data and behavior in the next 12 months. (Sangameshwaran 2014) Conclusion From the above discussion, it can be concluded that digital marketing raise the performance of the organization because it is faster and broader technique to negotiate with customer for distributing the information as compare to traditional marketing so it is becoming way forward of the marketing that is approved by many chief marketing officers such as Andre Campbell, Vivek Nayar, Vivek Shrivastav and Rajan Anandan through their experience of marketing fields. It is low cost and time consuming process which is quite healthy for organization to develop their effectiveness. It is helpful for marketing managers to identify the results of marketing. The forward way of marketing in business is also altering due to technology changes in market. Digital marketing is an efficient or effective advertising media as compare of others such as mass media, print media and social media etc. However, some professional person presented view about the digital marketing is not way forward in marketing so we would agreed with them. From the data, it is develop that previous advertising trend also plays significant role in advertising, but digital marketing has way forward capability to be an alternative of the efforts related to improvement in the marketing perspective. References Bampo, M, Ewing, MT, Mather, DR, Stewart, D, Wallace, M, 2008, The Effects of the Social Structure of Digital Networks on Viral Marketing Performance, Information Systems Research, 19 (3), p. 273290. Bird, D, 2007, Commonsense Direct and Digital Marketing, 5th ed, Kogan Page Publishers, London. Bucy, EP, 2004, Interactivity in Society: Locating an Elusive Concept, The Information Society, 20, p.373383. Carver, JM, 2009, CMO: Chief Marketing Officer Or Chief "marginalized" Officer, ProQuest, Michigan. Charlesworth, A, 2014, Digital Marketing: A Practical Approach, Routledge, London. Greenberg, E, Kates, A, 2013, Strategic Digital Marketing: Top Digital Experts Share the Formula for Tangible Returns on Your Marketing Investment, McGraw Hill Professional, New York. Harden, L, Heyman, B, 2009, Digital Engagement: Internet Marketing that Captures Customers and Builds Intense Brand Loyalty, AMACOM Div American Mgmt Assn, London. Kaufman, I, Horton, C, 2014, Digital Marketing: Integrating Strategy and Tactics with Values, A Guidebook for Executives, Managers, and Students, Routledge, London. Kiang, MY, Raghu, TS, Shang, KHM, 2000, Marketing on the Internet who can benefit from an online marketing approach? Decision Support Systems, 27 (4), p 383-393. Koleszar, WL, 2013, The Chief Marketing Officer Journal - Volume I, Lulu.com, Georgia. Lee, S.M., Kim, J, Choi, Y, Lee, SG, 2009, Effects of IT Knowledge and Media Selection on Operational Performance of Small Firms. Small Business Economy, 32, p. 241257. Lovett, J, 2011, Social Media Metrics Secrets, John Wiley Sons, New Jersey. Miller, M, 2012, B2B Digital Marketing: Using the Web to Market Directly to Businesses, Pearson Education, New Jersey. Pride, W, Ferrell, OC, 2014, Foundations of Marketing, Cengage Learning, Boston. Puzhar, 2014, Digital Marketing Way Forward: Trend For 2014-2015, view 21 January, 2015 Rhee, JH, 2001, Does Digitization Enhance Firm Competitiveness? E-Business Strategies Based On Information Processing Theory, Journal of E-Business, 1 (1), p 1-99. Sheth, JN, Sisodia, R, 2006, Does Marketing Need Reform?: Fresh Perspectives on the Future, M.E. Sharpe, New York. Sharma, A, 2002, Trends in Internet-Based Business-to-Business Marketing, Industrial Marketing Management, 31 (2), p 77-84. Sangameshwaran, P, 2014, Digital Marketing: Professional Unsure About Way Forward, Finds Study, view 21 January, 2015 Revere, D, Turner, AM, Madhavan, A, Rambo, N, Bugni, PF, Kimball, AM Fuller, SS, 2007, Understanding the Information Needs of Public Health Practitioners: A Literature Review to Inform Design of an Interactive Digital Knowledge Management System, Journal of Biomedical Informatics, 40, p 410421. Wymbs, C, 2011, Digital Marketing: The Time for a New Academic Major Has Arrived, Journal of Marketing Education, 33, p 93-106.

Saturday, May 2, 2020

Commercial and Corporation Law ASIC

Question: Discuss about the Commercial and Corporation Law for ASIC. Answer: Registration of Any Aim Fitness and The Concerns Ying and Zena must turn their idea into an action in order to form a company. Section 1.5.3 of Corporation Act 2001 provides for setting up of a company. The guidelines is that having the idea of forming Any Aim Fitness is not enough, Ying and Zena have to lodge an application that is properly completed in the prescribed form. A proper application form will include the directors, shareholders and their personal information details. The Any Aim Fitness Company shall exist upon registration by Australian Securities and Investment Commission (ASIC). The second issue will be whether the proposed company to be formed by the friends would be registered. Section 112 of Corporations Act provides that a company can be public company or a private company. The intention by Zena and Ying to turn what has been a charity for a number of years into a business can therefore be realized by choosing the Proprietary Company as a vehicle of their business operation. A proprietary company limited by shares s the best vehicle in the circumstances owing to the investment which needs to be done, limitation of membership and transferability of shares and the limitation of liability of the members once the company is registered Again, it is worthy to note that being two friends; they meet the statutory minimum of members of a proprietary company asunder section 114 of Corporations Act 2001 and still be way below the statutory maximum of numbers of the 50 members of the proprietary company under section 113 of Corporations Act (CA) 2001. Having identified the business opportunity, Zena and Ying must then move to search for the name of the company and ascertain that their proposed name of Any Aim Fitness is available. This is will be their principal role as promoters of the company. The guiding principle the name search is in order to ascertain that the name that the two friends are settling on is not unacceptable or identical to an existing name as under section 147 of CA 2001. The two friends must be aware of the requirement of section 148 of CA 2001 that makes it mandatory for the company to have the word limited at the end. Since the best business vehicle is a proprietary company, the company name shall be Any Aims Fitness Proprietary Limited. The procedure of reserving the name is clearly outlined in the section 152 of Corporations Act 2001. Under the section, a person has to lodge an application for reservation if the name is available under section 147 of CA 2001. The reservation last for two months and can be extended for two more months when the ASIC discretionary powers are invoked. While the registration of the proposed company is pending, the two friends, Zena and Ying shall be called promoters of the company. A promoter is a person who undertakes in the formation of a company and sets the same going through taking of necessary steps in order to achieve a certain purpose. From the definition, it is clear that they have conceived the thought and idea of setting the business of offering fitness to the people and are tasked with the future prospects of the business. They need to be aware of their liability to the pre-incorporations contracts entered into such as the agreement to lease the office near the park for three years. The position of common law is that a promoter is personally liable for the contracts unless they are approved by the company. The similar position has been adopted by the CA under section 131 as it provides that the company formed will be bound by contract if the company ratifies it after registration. Even if it fails to ratify, the company is still able to be found liable for payment of damages or transfer if property. Therefore Ying and Zena ought to provide guidelines for ratification and the timelines in the company constitution in order to avoid uncertainty as to a reasonable time. If the registered company ratifies, the company itself shall be bound by the lease agreement. Prior to registration, Ying and Zena have to make certain decisions. This will include choosing the registered and business address of the proposed company where all communications are to be sent. Another is the choice of officeholders such as the director and to give full particulars such as full names, date and place of birth and residential address. The point of awareness in respect of this requirement is that a proprietary company must have at least a director but the position of a company secretary is not mandatory. Lastly they have to decide on the share structure of the company including classes of shares, total number of shares. Registration process also called incorporation. Currently, the incorporation can be done on an online platform for automated way of registering a company in Australia and getting incorporated. The procedure as under section 117 of Corporations Act is that a person must lodge an application with the Australian Securities and Investment Commission. The application must contain the type of the company, company proposed name, name and address of consenting persons, names and place of birth of directors, company secretary, if any, address of registered office or principal place of business, number , classes and value of shares. If the ASIC is satisfied, it shall give the company an ACN number, register it and issue a certificate starting the ACN and company name, type and date of registration. Under section 119, it is only after registration that the company shall be deemed to have come into existence. Another vital thing is the effect of registration of the company. Once registered, the company becomes a body corporate and shall have separate legal capacity from the members. This is advantageous to the two friends as their liability shall be limited to the extent of shares held alone. Section 124 of Corporations Act provides that the company has powers to issue shares, grant unissued shares, and distribute company property and to do anything authorized by law. Another point of awareness is in the area of having an Australian Company Number (ACN). This is a peculiar number with nine digits that every company in Australia has. Though Ying and Zena have opted for a name without the number, it is requirement under the law that the ACN must appear in its accounting documents, notices, letterheads, cheques and written advertisements. Arguments by Amazing Events Management Ltd and Adelaide Bus Ltd Issues The brief facts are that Adelaide Bus Ltd wants a pay for printing of picture for AEM on account of a concert with was cancelled, has been contracted to print pictures for advertisement in major contract. From the set of facts certain issues can be identified for determination. First issue is whether the act of cancellation of the concert could be anticipated in the circumstances when AEM was contracting AB to do the advertisement. Second issue will be whether the actions of AEM were unconscionable thus warranting an exception to the application of the doctrine of frustration. The Law The law on performance of a contract indoctrinates the doctrine of frustration which flows from Coronation cases. It provides that once a contract has been entered into and is affected by a force majeure, it fails in futuro. The doctrine as it is operates has over time been modified by various statutory laws. Other inherent limitation is that the courts will apply it as a last resort only the act complained of as having caused the frustration must not have been anticipated reasonably in the circumstances. Statutory laws have also modified this doctrine by requiring that the conduct of any person who wants to be protected under this doctrine ought not to be unconscionable. It must prove that the actions were not oppressive or harsh. Application The two parties shave been entangled in a complex situation of multiple application of laws and exceptions. Amazing Events Management Ltd. (AEM) will argue that the contract between it and Adelaide Bus Co. Ltd. (AB) was frustrated. In advancing this argument, AEM will first need to prove that there is a valid contract between AEM and AB. In establishing a valid contract, ne needs to prove the existence of the elements such as agreement, consideration and intention to be legally bound. As to the first limb, Amazing Events Management Ltd can argue that there was a meeting of minds between the parties as to the advertisement of the concert. He will argue that the offer was certain and is distinguishable from an invitation to treat. The arguments can be furthered by stating that the contracting of AB by AEM to print fifty large poster advertisements was in no uncertain terms (Beatson, 1998). As to the consideration, AEM can argue that in the agreement, AB was to print fifty large posters and in the end he would be paid for the service. Thirdly, AEM will have to prove that here was an intention to be legally bound amongst the parties to the contract for printing of advertisements. This would be evident from the communication between the parties. Once Amazing Events Management Ltd has proved the existence of a valid contract, it will then advance an argument that the contract has been frustrated. Frustration here means that the cancellation rendered the completion impossible. Amazing Events Management Ltd. will argue for the application of the doctrine of frustration (El-Hassan, 1985). This will be advanced by stating that the cancellation of the concert was supervening and beyond the control of Amazing Events Management Ltd. Evidently, this was the case as the major contractor, Barry Big Noise did not formally inform AEM that they were cancelling the main contract of advertisement and organizing of the contract. AEM can rely on the case of Taylor v Caldwell (1863) 3B S 826 to persuade the court that upon proof of frustration by lack of anticipation, the contract must thus be automatically terminated (McIntyre, 2004). In Taylor case, the common law position on frustration was upheld and the court underscored that common law has no place for performance where a contract has been frustrated. Finally as to the claim of the debt, AEM ca advance the argument that the loss for termination ought to lie where they fall. Furthermore the advertisement contract was dependent of the concert events organizing agreement and that when the later failed; there was no reason in principle why the dependent contract of advertisement must not fail. AB will argue for common law exception that it will advance in the argument is that the doctrine of frustration is not absolute but applies in limited cases (McIntyre, 2004). It shall argue that the kind of frustration was common in the business of Events management and that it could have been anticipated by the parties therefore removing it totally from the ambit of doctrine of frustration (Rothschild, 1931). The second legal argument which can be advanced by AB is that the doctrine of frustration if applied would be unfair to it given its harshness in the instant circumstances. This is because, at the time of being called not to proceed with the advertisement, AB had already printed the pictures (Marchetti, 2012). Particularly, he will rely on the provisions of Part 2(C) of Fair Trading Act 1999 Act No. 16 of 1999. Conclusion The reliance on the statutory ABs reliance on section 8(2)(b) of Trading Act on prohibition of unconscionable conducts where would be strong due to the seniority that the statutes have over common law principles during interpretation (Leske and Schweitzer, 2009). Again, it is because that AEM had a higher bargaining power. This it can do by relying on the case of Cutter v Powell [1795] EWHC KB J13 (9 June 1795) KB in order to persuade the court that her is unity of the contracts. While Amazing events management Ltd will rely on the doctrine of frustration, Adelaide Bust Ltd can base the argument on the exception t the operation of t doctrine. As to the argument on damages, Adelaide Bus Ltd is likely to fall because the court is likely to consider that Amazing Events Management Ltd can be able to recover from Barry Big Noise for lack of proper notice of cancelation of the contract of organizing the concert. Secondly, it would be easy for AB to invoke courts discretion to grant damages and orders by showcasing exceptions to the general rule. References Beatson, J. (1998). Anson's Law of Contract. Oxford University Press Kelly, D., Holmes A., Hayward, R. (2002). Business Law. Oxford University Press Lunney, C. (2000) Tort Law: Text Materials. Oxford University Press Marchetti, C., 2012. Doctrine of frustration. El-Hassan, A.E.W.A. 1985. Freedom of contract, the doctrine of frustration, and sanctity of contracts in Sudan law and Islamic law. Arab Law Quarterly, pp.51-59. McIntyre, E. (2004). Business Law. Longman Publishers Anderson, A. 1953. Frustration of Contract-A Rejected Doctrine. De Paul Law Review 3(1) pp 1 Rothschild, J.L. 1931. The Doctrine of Frustration or Implied Condition in the Law of Contracts. Temp. LQ 6, pp.337. Leske, K.O. and Schweitzer, D. 2009. Frustrated with Preemption: Why Courts Should Rarely Displace State Law Under the Doctrine of Frustration Preemption. NYU Ann. Surv. Am. L. 65, pp. 585. List of Cases Cutter v Powell [1795] EWHC KB J13 (9 June 1795) Taylor v Caldwell (1863) 3B S 826 List of Statutes Fair Trading Act 1999 Act No. 16 of 1999. Corporations Act No. 16 of 2001