High Fashion Fights Recession free essay sample

There is moderately no danger of replacement in the extravagance products industry. This is for the most part a result of the quality and cost of substitutes, and the expense of changing to the customer. The cost of fake merchandise that duplicate the extravagance products purposes there to be a constructive money related expense in exchanging yet there is lost notoriety as extravagance merchandise are described as having a persona, lack, that are join by a presentation of a quality item with exceptional plan, unprecedented ability and advancement. There is no correlation between extravagance merchandise and the fake items. Danger of New Entrants The extravagance products industry has a significant level capital prerequisite, brand dedication and acknowledgment by shoppers, the selective access to providers and conveyance alongside economies of scale, all make it hard for new firms to enter the business. Capital venture confines section to the business as an enormous interest in showcasing is expected to pull in clients and to expand brand acknowledgment. We will compose a custom exposition test on High Fashion Fights Recession or then again any comparable point explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page In extra providers and merchants have selective legally binding concurrence with producers, along these lines making a strain for new firms to manufacture their gracefully chain. Anyway there is an expansion danger from web based organizations. Bartering Power of Suppliers The danger of losing quality from exchanging providers and the predetermined number of abilities and specialization laborers accessible give providers a high dealing power; anyway this force is relieved by the downsizing and cancelation of requests for the provider of material from different ventures during the Great Recession. Along these lines there is a moderate force for providers, as they are all the more ready to acknowledge any request given by the extravagance merchandise industry. Bartering Power of Buyers The haggling intensity of purchasers is high in the extravagance business. The industry’s size of the extravagance merchandise advertise is little particularly in recessionary occasions as buyers spend more on quality things; anyway there is development in the market from nations, for example, China and other rising nations, which have an expansion in well off family units which is relied upon to develop. The expense of exchanging for customer is low; it is increasingly a passionate expense for shoppers as they are very brand steadfast. In this way there is a high weight on firms to stay applicable with consumer’s inclination and patterns. Firms additionally sell their items in select retail outlets in this way these outlets have some power over the business as they legitimately sway deals. Serious contention inside the business There is a solid degree of opponent among barely any huge firms in the extravagance business. The organizations have separated procedure and a few despite the fact that it's anything but an industry practice offered scaled down costs during the Great Recession to improve their business, a few firms couldn't endure and opted for non-payment. There is a high leave obstruction as it is hard for firms to recoup their venture. Doorman Five Force Intensity Threat Of Substitute Products Low Threat Of New Entrants Low †Medium Bargaining Power Of Suppliers Low Bargaining Power Of Customers Medium Competitive Rivalry Within The Industry Medium †High 2. What amount of bartering power did buyers as purchasers have during the Great Recession? The fall utilization during the time of the Great Recession 2007-2009, adversy affected the extravagance products industry and implied that organizations needed to put more accentuation into speaking to the rest of the market of observing purchasers. Customers were less obliged to attempt and ‘keep up with the Jones’, as they needed to decrease their utilization on insignificant products and enterprises and the ‘Jones’ were less constrained to hotshot. In this manner on account of the fall in numbers, the customers had a greater amount of an effect on theâ luxury firm’s primary concern and the firm hence needed to by one way or another inspire purchasers to spend, this is according to taste and inclination be that as it may, since shoppers were excessively little to fundamentally impact cost and cost is a significant factor in the apparent extravagance of a decent. In this way the bartering intensity of shoppers was medium, since merchandise must be estimated directly as well as offer some esteem and be of high caliber for buyers to buy the item. 3. Why was limiting looked downward on by the business peers, which were all separated or center contenders?

Financial Reporting in New Zealand Essay Example | Topics and Well Written Essays - 2000 words

Money related Reporting in New Zealand - Essay Example Along these lines, monetary detailing gives data that help financial specialists, leasers, and others survey the sums, timing, and vulnerability of imminent net money inflows to the related venture. Leaders' uses data in the money related report on the best way to base speculation, credit and different choices underlies the goals of budgetary detailing. A basic assessment is done according to the handiness of the money related detailing and the reason it serves. This paper talks about if the arrangement of a valid and reasonable perspective on an element's budgetary position and execution is legally necessary. It shows the significance of calculated structure and why we use guidelines that are a piece of Generally Accepted Accounting Practice (GAAP) to oversee money related announcing in New Zealand. Organizations, backers and all open segment substances in New Zealand are required under enactment to act with agreement with General Accounting Acceptable Principles (GAAP) while introducing their outer money related reports. As indicated by New Zealand Institute of Chartered Accountants, they guarantee that those associated with readiness of budgetary reports of elements to conform to General Accounting Acceptable Principles (GAAP) and any resistance ought to be accounted for. (New Zealand Institute of Chartered Accountants, 2006) Sound accounting standards (GAAP) are bookkeeping decides that are utilized to get ready budget reports for traded on an open market organizations and privately owned businesses just as non benefit making associations. The sound accounting standards work under an alternate series of expectations, standards, and imperatives. GAAP guarantees that the fiscal reports are valuable to pertinent clients as they have the accompanying basic characteristics. Significance: A pertinent data help clients of the fiscal summaries to foresee the future occasion comparable to the present and the past. This data must be accessible before the choice is made, so for this case they have any kind of effect in dynamic. Dependability: The data introduced in the fiscal summary ought to be solid for example on the off chance that a free reviewer checks it utilizing a similar strategy; he ought to have the option to get a similar outcome. Equivalent: The money related announced ought to likewise have the option to be accounted for in a similar way for an alternate association consequently one can think about monetary aftereffects of various organizations. Steady: This implies a similar bookkeeping strategy applied ought to be the equivalent from period to period ought to be all around clarified and defended. This permits correlation of budget summaries of a similar organization of various periods. For GAAP to accomplish its goals, it is normally guided by fundamental suspicions, standards and obliges. The Assumptions incorporates: Monetary Entity Assumption: There is a presumption that the business is

Deutsche Allgemeinversicherung free essay sample

Deutsche Allgemeinversicherung (DAV) is one of the universes biggest insurance agencies. In 1996, 51% of DAVs business was in Germany (in which 60% was in retail protection). Supervisors of different firms state DAVs qualities lie in both sound, conventional protection the board (no doubt the center protection item offering) and extraordinary client administrations (doubtlessly the human agreement component in the protection item). The insurance agency has forefront innovation. DAV tries to bring down its deformities interior expenses and outside expenses by expanding its evaluation and preventation costs. Rivalry Concern#1: Insurance administration items are progressively getting homogeneous (and simple to repeat), and in addition to the fact that DAV competes against different goliaths of the business, for example, Allianz, Credit Lyonnais and Aetna, however likewise the organization has numerous littler insurance agencies as contenders. Separating DAVs client support can be utilized as a bit of leeway over contenders. Clients For the situation quality for clients is the thing that clients esteem, I. Dav’s goal:improve data exactness quality PDCA â€cycle †quality improvement Steps in PDCA cycle Plan: Identify and perceive issue. Build up an activity plan that incorporates a serviceable arrangement. absence of data precision and quality absence of representative aptitudes inside the associations PDCA cycle †¦. Activity plan Identify various devices inside SPC Tools: Flow graphs - visual portrayal of the procedure - recognize point where issues happen - intercession focuses for arrangement PDCA cycle †¦. PDCA cycle †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. Circumstances and logical results or Fishbone chart Identifies,displays graphically,explores potential causes identifying with the issue to find the foundation of the issue Eg. The center issue was data Precision low quality PDCA cycle †¦. PDCA cycle †¦. Create preparing programs for interior representatives E. g.. For the situation we find that there are forexample 154 perpetual workers 132 temps PDCA cycle †¦. Do: execute arrangements Implementation of a pilot PMV venture Employed a scholastic specialist to build up a measurable testing plan Provide additionally preparing to workers I. e. PMV PDCA cycle †¦. Check:Review and assess change watch that arrangement has proposed result Employees multiskilled †lessen no of temps utilized Identify SPC devices relevant to explicit Offices â€check sheets,flow graph and so forth PDCA CYLE †¦. Electronic diagramming †spares time,cost powerful General standards not applied accurately as workers didn't know whether a telephone number or a customers address can be seen as basic data Hence if all the more preparing is given improvement will be accomplished PDCA cycle †¦Ã¢â‚¬ ¦ Act: Reflect and follow up on the learning experience SPC strategy is a decent proportion of procedures and improvement anyway Dav didn’t apply it successfully The Spc method can be normalized inside the organization with the correct devices and preparing gave.

Smokers vs Non Smokers free essay sample

Smokers versus Non Smokers BY Jbest036 Smokers versus Non Smokers In the past when you strolled into a bar, a café or even any open spot a ton of times everything you could smell was the waiting hobby of an old cigarette. In any case, presently society has come to understand that even that recycled smoke can be a quiet executioner. Cigarettes contain more than 4,800 synthetic compounds, 69 of which is known to cause disease. Most lung malignant growth and lung maladies are connected back to the horrible expansion of turning into a smoker or being around somebody who so sympathetically imparted their smoke to you. However we ave been read a clock and time again of the unforgiving long haul some of the time deadly impacts of smoking and we will do it? Today I might want expound a little on the significant distinction in somebody who smokes and those how go without. In todays society with all the stressors and everyday things we manage, a few people are Just incapable to work without that short time moved up paper to bring some relief. We will compose a custom article test on Smokers versus Non Smokers or then again any comparable subject explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page As a past social smoker I never truly acknowledged the amount it influenced others around me or that I smelled so frightful sometime later regardless of whether it was Just an ouple while I delighted in a couple of grown-up drinks. However, presently as a non-smoker, it truly gets to me when I am around an enormous gathering of individuals or even Just one individual who is smoking in my quality. It makes my eyes water, my nose to consume and at times adheres to my garments and hair without inquiring! It has now become the legislatures increment in pay and lifestyle for some individuals. Nicotine is an addictive medication, which when breathed in tobacco smoke arrives at the cerebrum quicker than the utilization of IV drugs. Smokers not just become genuinely dependent on nicotine; they likewise connect smoking with numerous social exercises, making smoking a troublesome propensity to break. I would not really say that smoking could be something worth being thankful for yet some of the time it can assist you with meeting new individuals not that you need to step away from your companions to head outside and for some, Just make time pass somewhat simpler. The smokers shack or corner is normally where you can hear all the best dramatization and there is in every case a lot of tattle to go around. However there are such long haul outcomes for what reason would anybody decided to get one? Its a deep rooted question that will likely never resolve until the administration takes control and totally bans tobacco utilize all together. However when you quit smoking and go to the opposite side of being a non-smoker you will kick back and figure, how might I have ever done that for such a long time? As a non-smoker I am ready to walk or even run a mile without having breathing trouble, I dont need to discover additional scents and creams to cover the smell when I stroll into an open spot. No compelling reason to battle the cold or outrageous warmth to go outside for a fast puff. I sense that I have more vitality and my breath doesnt smell from the awful propensity. As a non-smoker you become grateful for the law that were extemporized to boycott open smoking in cafés, bars and inside of any sort. I currently have a grandma who has never smoked a day in her life that fghts consistently to inhale with constant obstructive pneumonic malady and emphysema on account of the recycled smoke she was uncovered while claiming a bar ee the drawn out influence she needs to manage nobody else, you get somewhat nauseated. I put stock in opportunity in doing what you need to your body and have no worries toward somebody who decides to smoke. I Just feel that on the off chance that you plunked down and really contrasted the advantages with the dangers you may second your decided to get one of the insights who will one day be not able to inhale without assistance. At regular intervals somebody passes on from a smoke related condition, OK despite everything be a smoker?

Sisiphean Richmond Writing

Metaphor of the Month! Sisyphean / Sisiphean Richmond Writing Poor King  Sisyphus! Doomed by the gods of ancient Greece to roll a boulder up to the top of a hill, only to have the task fail, again and again, for all eternity. Students, in November does finishing the semester seem Sisyphean? Or Sisiphean, if you prefer that spelling (both occur and can be considered standard).   As WordPress recognizes and the  OED gives us the y version I will continue with that one. Just be consistent when you employ the term in writing. The lapse in studying Greek mythology disappoints me. I have a dark turn of mind in literature, so I love tales of woe, death, destruction, and crushed pride. They put many a vain schoolboy, even a little Edgar Allan Poe, in his place. Today, Sisyphus boulder seems stuck. The last recorded usage of our word by the OED: spelled with y,   2002; with i, 2007. With only three pips of eight on the OEDs usage frequency chart, is preserving our word a Sisyphean task? In higher education, no. We are an old curiosity shop of language and a maker-space for new words or repurposed ones such as paradigm. So if you wish to be vivid in describing your endless, ever-repeating tasks, tell someone the work is Sisyphean. Please send us words and metaphors useful in academic writing by e-mailing me (jessid -at- richmond -dot- edu) or leaving a comment below. See all of our Metaphors of the Month  here  and Words of the Week  here. Creative Commons image courtesy of Richard Croft.

Business Plan on Geared Up - Free Essay Example

Business Plan Contents Goals Short term goals: Long term goals: Strategies Business description and outlook Management and Ownership Operational plan 6a- roles of staff employed in the organisation Inventory of equipment Floor Layout Marketing plans Products Promotion Internal promotion External promotion Place . Goals Goals are desired outcomes that the business wishes to achieve. Goals are important to a business as it acts as a target to reach for individuals and the company as a whole, acts as a bench mark to which a company can measure their performance, works as a form of motivation and to show a sense of commitment. Goals can be categorised as long term or short term and within these are goals that are financially based or non financial. Listed below are the goals of Geared Up organised into long or short term. Short term goals: Create and improve on company website (within the first month) Have a social media page that will be actively posting updates on new products and specials (within the first 3 months) Attempt to match main competitor price, JW computers, (within 9 months) Have advertisements near traffic lights and on public transportation i.e. bus stops, in trains and on busses ( 6 months) Offer home assistance for easy to fix computer problems (first 2 months) Have business cards and hand out pamphlets (within first 4-6 months) Offer home delivery Long term goals: Create own line of computers and peripheral devices- 3-5 years Buy a warehouse to store products in a suburban area that is relatively close to minimise transportation costs but still is effective for storage uses.- 2-4 years Increase gross profit by 10-15% in the first 2 years then, Increase revenue by 20-45 % for 2-4 years after the initial 10% increase Sponsoring and Supply the equipment for professional gaming scene targeting market favourite game League of Legends- within 3-4 years Become a franchise. Strategies Short-term goals Long-term goals Acquire assistance from a professional web designer in order to get a user-friendly website that also provides customers with information on products Maintaining the page so it does not become dead content and make it as appealing as possible Determine whether it is a feasible option to match the prices and distinguish if we will make up for losses in the future Have a marketing consultant assist in developing the most effective high quality and appealing advertisements Have a professional card designer assist us in creating a simplistic yet effectual business card and pamphlets Creating business cards as well as handing out pamphlets to raise awareness of the services we offer while also providing a contact number. Maintaining a positive cash flow as well as consulting people that play a range of computer games in order to see what they look for when looking to purchase a computer or peripherals Discuss with a real estate agent where would be the most ideal location so it is beneficial for convenience, price and size. After achieving a more stable condition discounts, coupons and sales will be utilised to à ¢Ã¢â€š ¬Ã…“lureà ¢Ã¢â€š ¬Ã‚  customers in the shop ultimately, increasing income. Having a meeting with a teamà ¢Ã¢â€š ¬Ã¢â€ž ¢s captain and manager in order to negotiate sponsoring and supplying them with products and in exchange they promote the company and wear our symbol The business will hire a business consultant and discuss the most optimal locations to open up another franchise. Interviewing will be held as well as trailing in the current store to look for branch managers Business description and outlook à ¢Ã¢â€š ¬Ã…“Geared Upà ¢Ã¢â€š ¬Ã‚  is an electronic store that it part of the tertiary industry that is focused primarily on selling computers and computing accessories such as keyboards, mouses and headsets and supplying these products for a range of various uses such as at home/office based work, gaming or an all rounded computer. We also provide computing assistance, repairs and maintenance. The greatest competitor in the area will be JW computers who are although new in the area have already developed a strong customer base due to their reliability and great value. Despite the fact that JW computers is not too close to the store they prove to be a threat as both them and us provide the same services. However, Geared Up aims to develop strong goodwill and a solid customer base and in effect more potently strive in this market. There are many reasons why this business is being opened: Seeing growth in the computing and gaming field opening up new opportunities for entrepreneurs. Refer to appendix one With the belief that this business can provide better service and products then competitors such as JW computers and JB HI FI Our passion for computers, gaming and developing great accessories to optimise the gaming experience for all gamers and computer users. The demand for computer assistance and repairs in the area. Management and Ownership Geared Up is a Small sized business that is registered as a sole trader business owner Justin Saliba will hire store managers after a large amount of interviewing and finding the right applicants in order to maintain functioning of the store when the store manager is not available. Being a sole trader has many advantages and along with these many disadvantages. One major concern is the fact that sole traders have unlimited liability meaning that If the business is unable to meet any financial obligations or settle any outstanding liabilities, the owners personal assets can be seized to satisfy the debts. However the potential benefits can possibly outweigh the negative aspects these include: see appendix two for a pros and cons table Efficiency setting your own deadlines Control maintaining full control of the business and running it without interference of other people. Profit allowing you to retain the full amount of profit made and doing what you want with it. Decision making make decision to your liking and carry them out the way you find most viable. Self reliance relies on your own power and resources rather than being dependant on someone elseà ¢Ã¢â€š ¬Ã¢â€ž ¢s. ( this does require you to stay self motivated) Financial independence Job security with the fact that you are your own boss. 5b- Details of management structure and division of labour. Geared up will take up a flat organisational structure, that is, a structure that minimises the levels of management between owner and employees. This is ideal for a small company that is just starting off as it removes salaries of middle management and unneeded layers of management allowing for more efficient communication and coordination. This structure also prompts the employees to be more productive as they are involved in decision making and determining the success of the business Operational plan 6a- roles of staff employed in the organisation Store owner- the role of the store owner includes: Managing all daily operations of the business Train and higher the appropriate staff needed to help excel the business Be present and at the store as often as possible through the week Set a good example by being an active leader and promoting productivity Managing all financial aspects of the business such as: taxes and stock ordering. Manage advertisements and promotional ways to get the business name to the public Store manager- The store managersà ¢Ã¢â€š ¬Ã¢â€ž ¢ role is to: Provide supervision in the store when the owner is not available Assist all customers that confront him as well as attending to all un aided customers Ensure the store remains in its most prestige condition throughout the day Attend to phone calls when available and not attended Be present at least 35-38 hours per week Attend to duties of owner if asked to or if the owner is not present Set an example for all employees and represent the company professionally Assist in reperation of computers that need fixing Full time employee (/ at home service): Stock shelves Serve and attended to customersà ¢Ã¢â€š ¬Ã¢â€ž ¢ needs In charge of reparation of computers that need fixing Clean and tune the store to make it presentable Work 38 hours a week or as required Provide at home assistance for easy to solve computer problems when needed Part time employee: Part time employees will be obliged to do the same tasks and are entitled to the same benefits as full time employees but on a Pro-rata basis Works an average of less than 38 hours a week but more than 23 Inventory of equipment Cash register and receipt printer Credit card and paypass machine Check out counter Display monitors (x3) Telephones (x2) Display cabinet (x2) Barcode scanner Tool kit(x2) Repair table Shelving (2x wall and 2x isle shelves) Floor Layout Marketing plans A marketing plan is used to elucidate the primary marketing elements of a business and setting a foundation while also providing direction on the objectives, goals and activities for the business to collectively work towards. Products Geared up provides a range of products and services. The products supplied by Geared up include: Premade computers, laptops, computer components, peripheral devices, USBà ¢Ã¢â€š ¬Ã¢â€ž ¢s and monitors. Services that are provided are: In shop computer repairs and at home computer repairs. Product Price Premade computers Home and office computers $700-$1,399 Gaming computers $999- $2,999 All rounded computers $850-$1,499 Laptops Acer $649-$908 Asus $699-$1,874 Toshiba $469-$1,129 Samsung $599-$1,088 Computer components CPU/ Processors- AMD $79-$245 CPU/ Processors- Intel $89.95-$450 DDR3 Ram $35-$269 Graphics card- Gigabyte $75-$549 Product Price Graphics card- Asus $45-$999 Peripheral devices (computing accessories) Keyboards $39-$179 Mouse $9.99-$125 Speakers $49-$239 USBà ¢Ã¢â€š ¬Ã¢â€ž ¢s $8.00-$34.99 External hard drive $69.00-$229 Monitors- Acer $99-$299 Monitor- Samsung $120-$389 Computer cases Corsair Tower $79-$184.99 Gigabyte tower $80-$189.99 Corsair cases $89-$199.95 Services provided In store repairs $25+ cost of added components At home assistance 35+ cost of needed material Software Microsoft office home edition-2013 $249.95 Norton antivirus-2014 $59.99 Adobe Photoshop $99.99 Promotion Promotion is fundamental for a newly established business as it provides a way to allow the business to reach out to potential customers through the use media, techniques and strategies to attain peopleà ¢Ã¢â€š ¬Ã¢â€ž ¢s attention. Promotion can be widely divided into two categories: Internal External Internal promotion Internal promotion is useful for establishing a customer base by allowing them to gain something for the more they spend in store. Geared up will be implementing a rewards card system named à ¢Ã¢â€š ¬Ã…“Geared UP Rewardsà ¢Ã¢â€š ¬Ã‚ . This reward system will allow customers to gain points that represent in-store credit as well as receiving discounts on selective items. Another form of internal promotion that will be used is the placing of posters in and around the store raising awareness for specials and deals. This will be used to à ¢Ã¢â€š ¬Ã‹Å"lureà ¢Ã¢â€š ¬Ã¢â€ž ¢ customers into the store and forcing them to walk past many objects to reach the item advertised as on sale. External promotion External promotion is practical for raising awareness of a store for people that do not regularly come to the store location. Geared Up will utilise many types of external promotion during the establishment phase of the business. This includes Newspaper advertisements (see appendix 3), handing out flyers (see appendix 4) and business cards (see appendix 5). Place Where will you locate your enterprise and why? Geared Up will be located in Little Saigon Plaza (462 Chapel Road, Bankstown NSW 2200). Primary reasons for this location include: Due to a recent survey conducted people in the area want more variety/choice of this particular product and service Bankstown not being as technologically advanced means that people have a higher tendency to be unaware of any technological defect or product, Geared up will provide 100% assistance. Increase of population in the area Little competition ( none within walking distance) Easily accessible with transportation services How will your goods or services be delivered to customers? All goods will be available in store, however, in the near future home delivery will be implemented to supply goods for customers with the addition of a call out fee. What is your proximity to suppliers? There is no computer manufacturing outlet in the area and for this reason products must be delivered to the shop in exchange of a transportation fee. Stock in high demand will be bought in bulk in attempt to minimise avoidable costs. SWOT Analysis. Strengths (internal, positive factors) Strengths describe the positive attributes, tangible and intangible, of your organization. These are generally within your control. High demand, little supply Increase of population in area Skilled and motivated workforce Provide high quality products High level of communication Have a cohesive business plan Weaknesses (internal, negative factors) Weaknesses are aspects of your business that detract from the value you offer or place you at a competitive disadvantage. No established reputation Must invest in advertisement Not many employees with correct expertise Very fast paced type of business No close supplier increasing costs for transportation Opportunities (external, positive factors) Opportunities are external attractive factors that represent reasons for your business to exist and prosper. Expand business- franchise Expanding market To gain a loyal company base Trends in market suggest success Threats (external, negative factors) Threats are external factors beyond your control that could put your business at risk. Competition from an established business- JW computers, Dick Smith High cost of transportation could lead to loss A possible downturn in economy meaning people spend less Ever-changing technology means we must constantly upgrade stock Finance plan Budgeted revenue statement Geared UP Statement of financial performance- for the year ended 30 august 2015 $ $ Sales revenue 400,000 Sales Less Costs of Goods Sold Opening Stock Purchases Closing stock 87,700 38,500 126,200 47,200 79,000 Gross profit 321,000 Expenses Total expenses Advertising and marketing Legal fees Wages Insurance Telephone cost Rent On-going stock purchases Computer Motor vehicle purchase Motor vehicle running cost 1,000 500 100,000 1,500 3,900 43,200 32,000 3,000 16,000 3,120 321,000 Net Profit 0 Budgeted balance sheet Geared UP Balance sheet for year ending 30th august 2015 Current assets $ Current Liabilities $ Stock Accounts Receivable Prepaied Expenses 87,500 521,500 17,000 Accounts Payable Overdraft Wages 80,000 32,500 65,000 Total Current Assets 626,200 Total current liabilities 177,500 Non Current Assets Noncurrent liabilities Land Vehicles Furniture 10,000 16,000 6,500 Mortgage Owners equity Capital Retained profits 300,000 145,000 36,000 Total Non-current assets 28,500 Total Noncurrent liabilities 481,000 Total assets 658,500 Total liabilities 658,500

Should We Increase Minimum Wage - 1508 Words

The topic on whether the minimum wage should be increased our untouched has been a hot topic in the media and political scene lately. Both the republicans and democrats have spent some big bucks lobbying their insights on the matter. There has been a lot of subjective and objective arguments that are reasonable on both the pros and cons of increasing our national minimum wage. To add to the drama associated with this topic, President Obama endorsed a bill proposing a nearly 40% rise from $7.25 to $10.10 per hour. The President has been campaigning around the country ever since his State of the Union address, pushing congress to raise the minimum wage to $10.10 an hour. Many say this is too high due to the costs of enacting such an increase, and many say this is a little low due to the increased cost of living. After looking into both sides of this debate, I realize that overall it would be better for the well-being of our nation to increase the minimum wage due to the short term and long term costs that an increase of the minimum wage could lead to. In terms of helping out the lower class and poor citizens of the United States, increasing the minimum wage level is not the answer. Many argue that raising the minimum wage makes hiring workers more expensive, eliminates jobs at the bottom, slows growth and ultimately raises unemployment. Economic studies show that raising the minimum wage to keep pace with inflation creates little additional harm, but what the president isShow MoreRelatedEssay We Should NOT Increase the Minimum Wage1754 Words   |  8 Pagesthemselves. How do we make a living? Through working,but is that work enjoyable for us? Many of us have thought about what our purpose is in working. Should it be mainly focused on providing the basic necessities for our families? Or should we trade off enjoying our job to bet better able to support our family? We all want to provide our families a decent standard of living. What is our second goal? Our second goal is likely the desire, and ability to enjoy our job. The reason we should care about thisRead Moreminimum wage1601 Words   |  7 Pagesgood news for the low-income workers and their families w henever the government increases the minimum wage. The United States Congress adopted the Fair Labor Standards Act in 1938. Congress created the minimum wage toward the end of the Depression era to ensure a minimum standard oPremium 2048 Words 9 Pages Macroeconomics: Should the Minimum Wage Increase? Should the Minimum Wage Increase? Minimum wage is the lowest wage permitted by law or by a special agreement that can be applied for an employeeRead MoreThe Effects of Raising the Minimum Wage on US Economy1507 Words   |  6 Pagesfamily. 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There are states right now at the time that are trying to raise the minimum wage, and see how this will effect the economy of the area. As prices continue to increase in every day expenses, it becomes hard for us to keep up and be able to provide for our family or get even the basic necessities that we may need. People are saying that with more money, they will spend more back to the economy, thus helpingRead MorePersuasive Research on Minimum Wage1002 Words   |  5 Pagesvery different beliefs on how our country should be ran, and one of the most important and most frequently asked questions ties along with money. Our dollar allows us to buy the luxuries to make us happy and gives the lower class the chance to buy the necessities they need to keep them going. Money has been the center of attention for centuries, and one of the controversial topics that surround money is if the government should increase the minimum wage to help boost our frail economy and lower classRead MoreMinimum Wage Should Be Legal1435 Words   |  6 PagesMinimum wage is currently a very heavily debated topic. Many are in favor of raising the current national minimum wage of $7.25 to a more livable wage; suggestions for this increase are anywhere between $9-15 per hour. While the minimum wage has been raised several times throughout the years, it has not been kept proportional to raises in inflation which has led to a decrease in the amount of goods that people are able to buy with those wages, in turn making their economic lives more difficult. ThoseRead MoreThe Pursuit Of Happiness Essay1700 Words   |  7 Pageslobby rises as the excitement of the workers increases, today is payday. Or is it anxiety? Are their thoughts, masked behind idle chit chat, of how am I going to pay rent and feed my family? How am I going to make this pay last for two weeks? These fellow humans are the full time working poor. Increasing the Federal Minimum wage to from $7.50 an hour to $15 an hour would be shocking to the US economic system but a proposal of an immediate increase to $10.50 an hour and three years later to