Serving In Florida Essay Example | Topics and Well Written Essays - 1000 words

Serving In Florida - Essay Example The story â€Å"serving in Florida† is a story about a woman, Barbara Enrenreich, who started her life on a â€Å"low-wage life† in the Key West of Florida.  Among her  main  fears is that some locals may  possibly  recognize  her.  This recognition from locals interferes with her  main  task of investigating lives of the working poor. Barbara starts her life in Florida with an allotment of about $1,300 (Ehrenreich 16). The  amount  seemed too convenient to  enable  her pay two months’ rent on the apartment she rented. Afterwards, she embarks on hunting for a job. As her search for  job  continues, she realizes that there is no correlation between the number of vacancies or jobs available with the amount number of the available adverts. Moreover, it became apparent to her that the low wage jobs had high turnover. The high turnover  job  markets  facilitate  the main restaurants and hotels to keep the ads running. Regardless o f the tussle in the job search, the author proceeded with job search, and  eventually  managed to be hired. Her first job experience in Florida was the  application  of the job to the Winn-Dixie that had a computerized interview. The question asked wanted her to  determine  the  amount  of dollar  worth  the stolen goods the  prospective  employee had purchased in the previous year, or would he or she have turned in one of the employee to  steal. The  final  computer interview question was, â€Å"are you an honest person?†... Barbara engages herself into  several  job searches; however, she declines to  accept  the job offer at the Hearthside restaurant. The rejection might be because Barbara contemplates on spending  additional  $2.15 per hour on the trips that are associated with that job. Nonetheless, she settles in being a  waiter, and a  waiter  named Gail takes the  task  of training Barbara. Gail is a  woman  in her forties, has ever been homeless, and has for most her life  spend  her nights in her truck. Just recently, her boyfriend is murdered in prison. Another waiter by the name Joan also starts liking Barbara. Joan has three kids to whom she raises in a mobile home all by herself. There seems to be a  tremendous  generosity within these women that have never been noticed. Some of these traits are witnessed in their extra croutons in serving salad whenever the  management  allow  them to only  extra  six, or an  extra  rolls whenever the  manag ement  allow  them only one. Barbara after a while begins to develop these traits of  generosity  and caring, particularly towards customers and her coworkers. These ideals are clearly demonstrated, when Barbara clienteles and serves customers and her fellow workers with the  best  of  dinner  experiences she  acquired  before she became a narcotic (Ehrenreich 293). It is  apparent  that as Barbara is carrying out her duties as a waiter, she  truly  accomplishes her  mission  of investigating the lives of the poor employees. One day while wrapping some silverware, Gail told Barbara that she (Gail) was contemplating of hiring a  room  that would cost her between $40 and $60 per day (Ehrenreich 48). Barbara then asks her why she could  go  for

Intro to Business Assignment 1 Coursework Example | Topics and Well Written Essays - 250 words

Intro to Business Assignment 1 - Coursework Example Discussion 1: Topic B The industries that the Internet has transformed are TV, Music and retail industry. TV and music industries are bringing most of their broadcast online. Especially the Music industry has gone upfront on the internet via peer-to-peer technology, downloading websites and streaming websites like youtube.com where users can download, stream and listen to the live music an watch the video. The retail industry has been carrying out most of their operations online where customers and the channel partners have been given access to the retail website where they can view their respective commodities. Customers can go online and customize their orders according to their liking after seeing the goods available on the website. Thus the internet has brought in an element of ease and comfort for the users. The hassle, of going to the store/outlet and seeing the commodity and purchasing it, could avoided. Customers can sit at their homes and with a click they can order the comm odities they want. The internet has been improving the operations of these industries because it provides a paperless environment and where the transactions can be carried out on real time basis.

What is Strategic Human Resource Management Essay Example for Free

What is Strategic Human Resource Management Essay Strategic Human Resource Management (SHRM) is concerned with establishing a specific and managed cause and effect relationship between an organisations actions to survive and grow and its HRM principle and practices. It is also concerned with the mechanism through which people in an organisation gain an understanding of the purpose of the organisation, its goals and strategic objectives. As well as how the organisation related to its external environment in order to achieve these goals and objectives (SHU International MBA, Intro to SHRM unit p. 1) Introduction Human resource management (HRM) can broadly be defined as a strategic and coherent approach to the management of an organizations most value asset the people work there, who individually and collectively contribute to the achievement of its objectives for sustainable competitive advantage. As described by beer et al (1984): Human resource management involves all management decisions and action that affect the relationship between the organization and employees It human resource.1 The different between Strategic Human Resource management (SHRM) and Human Resource Management (HRM) can be seen as the word of Strategy, Strategy, as it has come to be applied in business, is a market-oriented concept it is fundamentally concerned with products and competitive advantage. The different between are integrated as follow: Strategic human resource management is concerned with those decisions which have a major and long -term effect on the employment and development of people in the organisation, and on the relationship which exist between its management and staff. An HR strategy will express the intention of the enterprise about how it should manage its human resources. These intentions provide the basis for plans, development and programmes for managing chance. The aim of SHRM is to ensure that the culture, style and structure of the organization, and the quality, commitment and motivation of its employees, contribute fully to the achievement of Business objective. Main features of strategic human resourse management It has been suggested by Hendry and Pettigrew (1986) that the main features of strategic human resource management are as follows: The use of planning A coherent approach to the design and management of personnel systems based on an employment policy and manpower strategy, often underpinned by a philosophy HRM activates and policies are matched to some explicit business strategy The people of the organisation are seen as a strategy resource for achieving competitive advantage Formation of Strategy To understand how the SHRM can effect the whole organisation, we need to go thought the Organisation Structure and see the how Strategy Management works. The strategic management process is typically broken down into five step: 1. mission and goals 2. environmental analysis 3. strategic formulation 4. strategy implementation 5. strategy evaluation We are not interested for Step 1 and Step 2, because at these two stages, the Strategy is not form yet. It was still in the planning process, after the Strategy had been developed, it will transfer to Step 3- Strategic Formulation. Strategic Formulation involves senior manager evaluating the interaction between strategic factors and making strategic choices that guide managers to meet their organisation goals. Some Strategies are formulated at the corporate, business and specific functional levels. Hierarchy of Strategy Another aspect of strategic management in the multidivisional business organization concerns the level to which strategic issues apply. Conventional wisdom identifies different levels of strategy a hierarchy of strategy 1.corporate 2.business 3.functional Its because we are not interested in Corporate-Level strategy Business-level strategy. The deeper explanations will be place in the appendix. Functional-level strategy Functional-level strategy pertains to the major functional operations within the business unit, including research and development, marketing, manufacturing, finance and HR. This strategy level is typically primarily concerned with maximizing resource productivity and addresses the question,  How do we support the business-level competitive strategy? Consistent with this, at the functional level, HRM policies and practices support the business strategy goals. Developing human resource strategies Human resource strategy contributes top the business strategy but is also justified by, the aim should be make it imaginative, innovative, clear and actionable. Its must also be selective, focusing on priorities, and flexible, rapidly adjusting to change. HR strategy should be formulated by s continuous process of analysing what is happening to the business and where it is going. So, we do know why we need SHRM to support organisation strategy, but how can we implement the SHRM to the organisation, and what kind of tools and practice we can use to shaping the organisation strategy in the term of Human Resource Management. The answer for this is fairly easy, we know the Top Level is the Strategy, and the bottom level is the worker on work floor. The linkage between these is a linkage mechanism, which general identify as Manager of that particular department. What is the responsibility of manager? In general, the key of a manager is to keep a good relationship with the employee, without the good relationship, the organisation will unable to run the daily task to achieve what they got to achieve. In other word a manager is trying making out the most from the employee to optimise the company performance. And the follow is what a manager should do for their duties: Ability to Motivate worker recruitment and staffing employee development employee relations Leadership Communication and culture Teamwork Ability to motivate worker Motivation is defined as the willingness to do something conditioned upon the actions ability to satisfy some need for the individual. (Robbins De Cenzo, 2001) Motivation is the key to getting the job done because without it, projects and jobs are completed with no purpose or direction. Moreover rewards and bonuses gained by employees increase their moral as well as benefiting the organization. Appraisal systems for some time have served to prove that the performance of employees is under control or to give the appearance of control Recruitment and Staffing Recruitment and Selection is a well-worn topic, which is treated fully in all major texts. Just remember that there is always a tension between getting the right person for a job and how much resource in terms of time and money is devoted to recruitment. The more accurate the recruitment, the more benefits the organization will achieve. This is because the employee will carry out their tasks more appropriately and will be ideal for the new post and will be able to take responsibilities. The more recruitment in an organization, the higher the overheads and therefore HRM needs to be effectively managing and deciding whether there is a need of recruitment or not. Training and development Training and Development are currently big issues for many businesses in most  parts of the country, especially where there are low rates of unemployment. Moreover, Increase in training and development has increased productivity as well as employees moral. This is beneficial for both, the company and the employees. Although the costs of HRM increase in the short term as training and development is very expensive but at the long term it is very beneficial for an organization as job commitment is reinforced and quality increases to Employee relations Develop and maintain effective employee relations activities and programs which you can use to help create a positive organizational culture. Handle difficult employees with confidence, and learn how to reinforce good behavior as well as discipline, and terminate properly if the need arises. In addition, you will look at ways to get your employees involved and assess their needs and opinions. Leadership The leadership is someone who exercises influence over people. The ability to influence also needs the permission of those to be influenced. The functions of Lead in organization may include Enabling people and group to achieve their objectives Setting and communication objectives. Monitoring performance and giving feedback Administering rewards and punishments Clarifying and solving problems Making decision on behalf of others Represent the group to others Providing information, advice and expertise Communication and culture Communication is very important to a manager, the purpose of the manage is get people connected together, from the top-side of the CEO to the bottom side of the Shop-floor worker, without the communication skill the manager may send the wrong message the audience. Teamwork Teamwork emphasizes the successful of business. As we know there are a lot of task cannot carried out by one people such as decision making, planning and problem solving. Teamwork can speed-up the task to achieve the goal in a efficient way. Factors to implementing change to the organisation After we understand the role of the management, but how cans a manager to implement the strategy to his department, the Keyword is CHANGE. The question is how can a manger to change the behaviour of the worker to ways that will match the organisation goals and strategy. Before the implementation of change, we should make sure the manager had got the capacity to handle the change. And there are three questions to ask the manager. Does he have the right attitude? Does he have the appropriate knowledge? Do we have the necessary skill? Right Attitude for the manager A change agent cannot succeed without great persistence. Change is a complex and laborious process that arouses strong feelings and emotions. Angry people, frustrated teammates, conflicting priorities, unforeseen problems or behind-the-scene resistance pose daily challenges. A project manager cannot lead her team through these minefields without determination and stamina. To avoid mid-course changes in leadership, the person must be fully committed to see the project through completion. A good way to ensure that is to appoint an ambitious individual who presents substantial potential for career advancement within the organization. She will look at the challenge as a terrific career-building opportunity and will be highly motivated to succeed. The benefits will actually extend well beyond the projects time horizon. Indeed, the initiative will provide this high-potential employee with a broader understanding of the business, an extended network of relationships and stronger leadership skills. Appropriate knowledge of what we going to change I am absolute sure that the developer of the strategy do know what is needed to change to meet their target. But the question is the project manager is in a functional- level of the business, he is a subject matter expert in their respective area of responsibility. Are we sure he got a detail understanding of what is going on of the strategy. An expertise of the strategic goal will be needed to assist the functional level to achieve what they should achieve The necessary skills Change is complex subject; it will generate lots of pressure due to the instability and uncertainty. And also the manager has to handle manage conflicting priorities, multiple constituencies and fast-approaching deadline; Responsible for gilding the organisation through the numerous challenge of the transition. Therefore, the project leader must possess the proven ability to remain highly effective under intense fire. Otherwise, the  breakdown will occur when that person is overseeing a critical phase, so the whole project can be failed or delayed. Which is opposing what we trying to do. Step for implementation of Strategy within the Human Resource What is implementation? Implementation means causing changes to occur somewhere in your sphere of influence as a manager. It is impossible to implement any course of action and not have something change as a result. This means that certain things must be disrupted, discontinues, or deferred and new activities must begin. But most important, it means that after you have initiated action, things will be different. The key is in creating exactly the right amount of disruption. The following guide lines should help you to accomplish the implementation of your action plan with the minimum amount of adverse disruption and maximum of success: (Responsible Managers Get results- Gerald Faust 1998) Always implement changes from the top down. Always start with the best first. Set your own example. Remember that you cant motivate people to do something they dont know how to do. Recognize and reward desired performance early. Pace implementation so that the timing is consistent with the needs of your plan. Provide coaching and follow-up consulting, and, above all, be persistent Step 1: Planning the Change Process (These step are coming from article: How to implement organisation change) Like any complex project, change management requires detailed planning. Being responsible for guiding the process, the change facilitation team must see to it that detailed but realistic planning is undertaken in order to minimize divergence from the vision. Step 2: Goal translation The executive goals need to be translating to each level of the organisation in a meaningful, achievable target to each individual person within the organisation. For example: if the executive goal is increase the sales by 15 %, but how can salesman known how much is the percentage increase for a particular product. Therefore the goals must be SMART (Specific, Measurable, Additive, Reasonable and Time-bound). Furthermore the goal must is translate to a understandable language of different level of the organisation. Step 3: Barrier identification and Removal When the goals are clearly understood, we can start identifying the barriers that are preventing the achievement of these goals. The people who actually do the work should identify the barrier. Whenever possible, we must involve these people in implementation decision where these view may be crucial. For that reason, Manager must be able to communicate effectively at all levels and across each function. Resistance of Change Employees resist change because they have to learn something new. In many case there is not a disagreement with the benefits of the new process, but rather a fear of the unknown future and about their ability to adapt to it. de Jager (2001) argues, Most people are reluctant to leave the familiar behind. We are all suspicious about the unfamiliar; we are naturally concerned about how we will get from the old to the new, especially if it involves learning something new and risking failure de Jager (2001) Step 4: System for Managing Once the goals have been translated and barrier have been identify, the next critical step will be to develop a system for managing the organisation. Traditionally it will only be measured. But now it will be much larger. Not only a metrics need to designed, but meeting need to be developed, measure automation needs to be planned and specific accountability need to be determined. As far as the metrics are concerned, they need to report on goal achievement at each organisation level. And the reporting will also translated to its specificity. So if the executive goal is improved effectiveness of 25 % then that is what the metrics needs to report on at that organisation level. Similarly the metric in the finished goods packaging area may be boxed packed per hour and so on. Step 5: Rewards Recognition Rewarding and recognizing employees is essential to any business or organization. Employees like to know that the work they do is noticed and appreciated by their employers. It is important to recognize both the effort put into getting work and projects completed and the result. Recognition is one of the most effective ways to reinforce an organizations culture, support its objectives, and retain top performers. When we remember to take care of these very human needs for recognition and appreciation, we do a great deal to create an energized workplace we need in order to succeed in todays challenging times. Short Example of implementation SHRM to an organisation Age, skills and training ASDA will have a range of employees who have worked for different lengths of time and who have different levels of skills and training. The Human  Resource planner will seek to have a balance of new people entering ASDA in order to cover those who are leaving. The Human Resource Planner will also want to make sure that skill levels are raising within ASDA, and that training programmes are devised to make sure people have the skills to meet ASDAs jobs requirements. If all ASDAs skilled employees are just about to retire, ASDA will have to spend a lot of money on training to build up a new pool of expertise. Succession Succession is the way in which one person follows another person into a particular job or role within ASDA. ASDA need to make sure it is grooming people to take on the responsibility required. If ASDA do not do this, it will suddenly find itself with a vacuum where it has not developed the people to move into the appropriate position of responsibility, and ASDA will be missing the right people in key position to hold ASDA together. Learning organisation Toyota is a classics which using a life-long learning opportunity. They understand the current worker may not be able to catch-up with the current technology. Therefore they have introduce a Paid-leave learning period for those who want to going back to study Operating as a learning organization and affording all our employees lifelong learning opportunities and equipping them with the skills and abilities to cope with and develop in an environment of constant change. Conclusion: Strategic Human Resource Management (SHRM) is a broadness area. Meaning range from a human resource system that is tailored to the demands of the business strategy to the pattern of planned human resource activities intended to enable an organization to achieve its goals. Where in the first definition human resource management is a reactive management field in which human  resource management becomes a tool to implement strategy, in the latter definition it has a proactive function in which human resource activities actually create and shape the business strategy. As Strategy is equal to change, so, SHRM will be change as the changing environment. But one thing can be sure is- SHRM is a managing tool of Human factor which will assist the organization to achieve their goals, and it will controlling all the human factor, and getting the most from them, to optimize the efficiency and gain competitiveness of the organization. Reference: 1. Human Resource Management Strategy Action Michael Armstrong 2. Strategic human resource management John Bratton 3. http://adtimes.nstp.com.my/jobstory/jan20a.htm The art of people management 4. http://www.newfoundations.com/OrgTheory/Bolognese721.html- Employee Resistance to Organizational Change 5. http://www.changemanagementgroup.com/orgdevel.phtml Organizational Development and Team Building 6. Responsible Managers Get results- Gerald Faust 1998 7. Strategic human resource management, performance, alightment, management by David Baker 8. Taking a Strategic Approach to Human Resource Management by Roy Massey 9. What is human resources strategy by Mark A. Thomas 10. http://techupdate.zdnet.com/techupdate/stories/main/Implement_change_manageme

Business plan for a fruit processing company

Business plan for a fruit processing company Our Business Plan will be about fruit processing. This will reduce fruits post harvesting loss through processing fruits in syrups and concentrates. This will help middle and low income eaners as we find there is high need of fresh fruits juice as many of fresh fruits juice are imported and sold in high price which normal Tanzania citizen cant afford. Our company will be situated in Korogwe Tanga where there are many firms. Company has three partners, Mildred, Sophia and Saja. ABRIVIATION ASDP Agricultural Sector Development Programme ASDS Agricultural Sector Development Strategy BIT Board of Internal Trade DACHE Dar Es Salaam College of Home Economics Ltd GDP Gross Domestic Product HKMU Hubert Kairuki Memorial University MAFC Ministry of agriculture Food Security and Cooperatives MITM Ministry of Industries Trade and Marketing NARS National Agricultural Research Institute PASS Private Agricultural Sector Support SIDO Small Scale Industries Development Organization SIDP Sustainable Industry Development Programme SUA Sokoine University of Tanzania TDV Tanzania Development Vision TFDA Tanzania Food Drugs and Cosmetics Agency UDSM University of Dar es Salaam BUSINESS PLAN 1.0 Executive summary The current agriculture potentiality contributes about 26.5% of GDP and it provides employment about 70% of total labour force. Tanzania grows a range of fruit including topical and temperate. The annual production of fruits is 678,515MT (this is 5% of potential area exploited) [tanserve n.d] Agro processing in the industrial sector is indeed one of the underdeveloped sub sectors and according to a report by Commonwealth Secretariat (1997) it was seen to consume about 1% of the horticultural raw materials produced in Tanzania as compared to 80% in Malaysia which also is in the category of developing country [practicalaction n.d] Agro processing and especially small -scale processing is becoming very important in the country as means to reduce crop losses and value addition at production and collection sites and a way of income generating activity.[practicalaction n.d] However, the sector experience losses during and after harvest. Post harvest losses of fruits and vegetables are estimated at 50 to 80%. These losses are more meaningful economically compared to the cost of compensating for losses through increased crop production. Losses are caused by among another factors, mechanical, physical and biochemical aspects. SOMIL intends with this financial and economical projection the idea will bring new concept in a market and good strategies which will enable the company to acquire a good market position initially the company may have up and downs of new start but with the partner potentiality gradual the sales may increase once SOMIL gets good eyes to watch over it operations. A daily production of between 2000 and 3000 kilograms of fruit product is estimated to be obtained from an input of between 2000 and 3000 kilograms of fruit pulp/product is estimated to be obtained from an input of 5000 kilograms. Production time per annum is estimated to be 240 days. And the project intends to employ 22 people and it is an investment of Tshs. 300,000,000.00 which will realize Tshs 144,000,000.00 in year five times. Total production costs are estimated at Tshs. 290,000,000.00 in year one gradually rising in years two and three then falls in year five onwards. Project cash flow is favourable, it will start making profits from the first year of the project and all loans be repaid by third year of operation. This will be showing clearly in financial. 2.0 THE BUSINESS 2.1 The opportunity According to government record and statistics show the annual production of fruits to be 678,515MT, but this is only 5% of the potential area exploited and this can be caused by lack of where to send the increased production. 2.2 Need to be filled This project so as to say will focuses on increasing fruits usability which experience enormous looses especially during the season and create new opportunities for industrial development in rural areas through processing of fruits for fresh juice. More so, the initiator of this idea is a professional expert in the field of post harvest processing, having a long term experience in offering knowledge to small scale food processors and food enterprises and managed to make them grow to a medium scale capacity. 2.2.1 How the proposed business will fills the need With the capacity of operation which business plan to operate in, the company will process fruits for juice which will be consumed by low and medium income earners who are not able to buy exported fresh fruit juice. 3.0 Company and Company history Initially idea was brought by one of the partner who is professional in a filed and she has long term experience in food processing later on the idea was joined by two other partners who contribute in capital invested. 3.1 Company mission statement To provide 100% satisfaction by offering fruit in syrup and fruit concentrates of the highest quality, impeccable services, guaranteeing accurate supply, fast delivery and developing strong relationships with farmers and medium to small scale fruits processing business and entrepreneurs. 3.2 Our vision SOMIL forecast to be competitive in service while taking on prior responsibilities that are pertinent to our clients needs through producing strict quality and safe products, for health and economical satisfaction. 3.3 Company objective The products to be made include quality and safe fruits of the season concentrates and fruits in syrup. Neutrality will govern the products made since raw materials will basically comprise of fresh, mature fruits of the season without non-fruit fortification. SOMIL products are intermediate since they form raw material to juice making, wine making and fruit salads to other small to medium scale industries. Availability regardless seasonality forms another niche value to SOMIL products. The main objective is to ensure sustainable economic, food and nutrition security by seasonal reduction of fruits post harvest loses by 10% through processing. 3.4 Specific objectives To ensure the establishment of fruit concentrate and fruits in syrup industry is in place by end of year one of the project inception To establish appropriate links with stakeholders who will daily deliver to the industry quality seasonal fruits for processing To continuously encourage and support value addition to seasonal fruits so that the farmers are economically empowered Together with farmers and other stakeholders of the project area, to reduce the post harvest losses by 50% through fruits processing by year 2013 To continuously support technology developments in the post-harvest system according to zonal conditions, climatically, and socio-culturally and according to the needs of the clients for effective and sustainable availability of the industrys raw material. 4.0 COMPETITIVE ADVANTAGE Fruit concentrates and fruits in syrup are made from fresh fruits of the highest quality, maturity, and health from both temperate and tropical zones. The fruits have to be selected and graded through a rigorous quality control system so that all of our products have the best flavors and nutrient content that meet the national and international quality and safety parameters and standards. The products made by SOMIL will be raw material to other secondary fruit products that include among others; juices, wines, fruit salads and fruit based products. Bulk packaging will govern the products and minimum carriage weight will be 20 kilogram and maximum 200 kilogram drums. Literature review and a study visit to few industries in Dar es salaam indicates about 16medium scale and 300 small scale prospective competitors, however, paste, fruit concentrates and fruits in syrup are not their core activities to any of these companies. They specialize in finished products of this semi finished products. Similarly, the demand for SOMIL products especially during off seasons in which consumers shift to imported pastes and fruit concentrates is prospectively high. Furthermore, customers of secondary products (finished products) have become health conscious, which add to the unique selling point of the company products. The company is reputed of having competent employees both professionally and aggressiveness to deliver as per vision of the company. 4.1 Description of the business model The company will deliver its products in the first come first served basis. Since nature of business entail quality and safe semi finished products than enterprises of finished products will certainly find them highly convenient both as a time saver as well as all-seasons products. Despite the presence of few competitors the demand is rarely met, also they utilize mostly the imported concentrates that are generally fortified with non fruit material thus reducing the products nature and quality. Consumers of the finished products have become health conscious which adds to the unique selling point of SOMIL products as they are naturally made from whole fruits and vegetables with nothing added hence making the product whole, fresh and nutritional. The company is reputed of having competent employees both professionally and aggressiveness to deliver as per vision of the company. 4.2 How the business will create a sustainable competitive advantage Production cost govern to a large extent pricing strategy but also comparisons have to be made with competitors prices so a not to be very different for a product of similar or near similar. Other quality parameters such as health impact, intellectual property etc will also be considered in the setting. According to studies on food habits conducted by use of a case study of Dar es Salaam, consumers reported to be willing to pay a little more for a healthy product especially when they are ensured of its quality and safety (Mjawa, 2003) For this reason, if a small price difference is set (ceteris peribus), it will make the business sell few volumes of quality products yet with profits till it gains market reputation. 5.0 CURRENT STATUS AND REQUIREMENTS The location of the production area will be Korogwe town and marketing office will be Korogwe District Tanga region. The choice of a production location is strategically due to the place being the major centre of fruits growing with a horticultural hinterland. Besides Korogwe being centrally located it allows easy transportation of inputs and raw materials to the industry as well as products to the selling centre and consumers due to its proximity to most areas. The location will also tap the availability of labor that has been left redundant by many crop estates and industries that were closed and some are now affected by the world economic recession. Ample availability of steady services like ICT, electricity, and water are taken into consideration when selecting the location. Taking into consideration that this is a start up project, the following will form a production and operation processes. Table 2: Production process Step Process Description 1 Site acquisition, registration of business and other start up logistics Site us owned by one of the partner which will be transfer in the business under the law and legal contract. 2 Purchase of equipment Machineries equipment with the capacity of producing 500-800 kilograms per hour will be procured. Office equipment, a vehicle and furniture will also be procured. 3 Employees recruitment Director production and technical, manager administration and finance, manager production and technical will be the first people to be employee operators staff and hiring the security. 4 Purchases of production materials Identification of locations, suppliers of raw materials and other inputs; training on the quality to supply and later purchases to be done 5 Production process Receiving, grading, washing, desizing/pulping, packing packaging and storing 6 Marketing Market research, Transportation, advertisement, selling. 5.1 Description of where the business stands today SOMIL has 120 millions which contributed by three partners in equal shares also the company has plot in Korogwe which has own by one of the partners and transfer to a business through legal entities. 5.2 Description of what the business needs to move forward In order the company to operate successfully the business needs 300 millions. Where by 120millions has already contributed by three partners and remained 180 millions the company look for a loan which will be paid within five years. 6.0 MANAGEMENT The business is directed by three directors, who are partner and shareholder of the business. First partner is MILDRED MLAKI, who has two degree, one from Cape Town University of food and nutrition and the other is for commerce from university of Dar es salaam, Mildred will be overall in-charge of all processing operations. Second partner, SOPHIA MUSSA holder masters in human resource from makerere university of Kampala Uganda, she is working with reputable company in the country and she will be overall in-charge with human resource and public relation of the company. Third partner, SAJA JOHN is a holder of masters in strategies business from Greenwich University; she will be overall in-charge of market operation of the company. The company will employ other work 2 in finance and procurement 2 foreman, and production and technical will be hired and security on term for six month period to help initial stage of layout, installation and commissioning of the machines and equipment. 6.1 ORGANISATION STRUCTURE 6.2 Ownership The business is currently owner by 3 directors as mentioned above and the will contribute 60% of the initial investment and the rest may be sold to any interested investors or development partner. 6.3 Board of Directors/Board of Advisor A Board of Advisor will be selected to advice on matters regarding smooth running of the business based on qualification specific to the organization functions. Advisors will strictly come from research institutes like UDSM Process Engineering Department, SUA, NARS, and TBS etc since the business needs technical expertise and solutions from them for the benefit of making it outstanding in terms of quality and up to date with technological features. A political figure will be included for the health of the business; the main proposal is the Member of Parliament for Korogwe Constituency. 6.4 Key Professional Service Providers The services of a change agent like SIDO experts are vital for advising on entrepreneurship skills including business management and capital acquisition. The service of reputed audit personnel for legal advisor is required by the business, but company will higher advocate professional whenever needed. 7.0 INDUSTRY ANALYSIS The current agriculture contributes about 26.5% of GDP and it provides employment to about 70% of total labour force out of which 56% of them are women. (Human Development Index 2007). This is because of its subsistence nature of Tanzania Agriculture but its potentiality for agriculture growth is immerse taking into the focus of the government strategies. TDV (Tanzania development vision) and ASDS that envisage to transform the existing subsistence-dominated agriculture progressively into commercially profitable and viable production systems so as to make it modernized, commercial, highly productive and profitable by utilizing new technologies and available technologies and manpower in an overall sustainable manner. (www.tanzania.go.tz) Agro processing in the industrial sector is indeed one of the underdeveloped sub sectors and according to a report by Commonwealth Secretariat (1997) it was seen to consume about 1% of the horticultural raw materials produced in Tanzania as compare to (80%) in Malaysia which also is in the category of developing country. Also according to PASS (2002), 65% of the processed products are consumed within the country. This indicates the availability of investment opportunities in the fruits and vegetable processing (www.tanzania.go.tz) Most of the processing plants operate under capacity due to old technology used, irregular supply of raw materials and low technical skills. However, there is some investment in processing industry taking place and efforts are being made to promote more investment in this area. Small-scale processing in becoming very important in the country as means to reduce crop losses and value addition at production and collection sites, and a way of income generating activity. To date over 5,700 processors have been trained and at least 3000 jobs created (SIDO, 2007). The future discourse for industrial development in Tanzania is elaborated in the Sustainable Industrial Development Policy SIDP. The main purpose of SIDP (Sustainable Industry Development Programme) is to set out a path for industrializing Tanzania so that by the turn of the first quarter of the 21st Century is becomes a semi industrialized country. Recently, individuals and or groups of women entrepreneurs and youth have engaged themselves into processing of fruits and vegetables for niche markets. These groups have received basic training in food processing technology through research institutions such as TIRDO (Tanzania Industrial Research Development Organization, TFNC (Tanzania Food Nutrition Centre) SUA (Sokoine University of Agriculture), Agriculture Research Institute Uyole, Mbeya Horticulture Research Training Institute Tengeru, Small scale Industry Development Organization (SIDO) and non-government organizations supporting community, nutrition and health improvement programmes. Such groups are mainly engaged in drying of fruits like ripe bananas, pineapples and mangoes and traditional vegetables such as amaranths, cassava leaves, okra and cowpea leaves. Others are engaged in making products like juices, jams, marmalades, pickles, tomato sauce and wines. (www.tanzania.go.tz) SWOT ANALYSIS TO OUR STARTUP BUSINESS STREGHTHS Highly experienced technologically Willingness to deliver as per vision Strong team of management WEAKNESSES Limited capital to invest in large scale venture A less reputed venture not yet gained a name OPPORTUNITIES Niche markets that take advantage of seasonal shortages Consciousness of fresh and nutritional healthy products by consumers Availability of ample and variety of fruits in most time of the year Location is along the fruits and vegetable growing zone Location centrally located, feasible transport wise to both farmers and consumers Availability of many funding arrangements like loans and grants for investors and entrepreneurs. Recent economic recession will reduce competing imports to a large extent THREATS Importation of less quality but cheap concentrates Emerging large scale investors with similar project Weather calamities such as drought that may hamper production Inconsistent supply of raw materials due to seasonality Substitutes such as Soda and Mineral water especial Uhai, Kilimanjaro, Dasani, masafi and so on 7.1 Competitive position within target market 7.2 Competitors analysis Few medium to large scale industrial processing plants in Tanzania that are currently operational, are located in strategic areas of high production and/or consumption like Bakhresa Food products, Noble Foods beverages Ltd, A-One products and Bottlers Ltd and Redgold in Dar es Salaam region, Darsh Industries Ltd in Arusha region, Dabaga Fruit and Vegetable Caning Factory in Iringa region. These factories produce a range of products that include fruit juices of various kinds, tomato sauces, pickles, wine, ketchup, etc. Other factories are emerging in other potential areas like in Morogoro as more investors venture into this sub-sector. (www.tanzania.go.tz) Table 1. The following table indicates few of the prospective competitors. Name of competitors Product made Strengths Weaknesses Remarks that makes SMS to capture a market share Noble foods-fruits juices Mango juice Fresh mangoes during the season. Have good packages No production during off season, manufactures only one product -mango juice Potential customer during off season may purchase other fruit pulps for SMS Bakhresa Food Industries -|Azam fruits juices Juices: mango, guava, apple, pineapple oranges May not lack raw material due to utilizing imported concentrates, few fresh fruits. Utilizes all the raw material in his own industry Although a big competitor but not threatening because he cannot sell to others hence consumers of SMS are maintained Red Gold Tomato products Sauces and Chill Uses fresh tomatoes during the season, import during off season Do not stock enough for off season production Potential competitor and customer Small scale wineries, juice processors Tomato products, wines, juices and fruit blend recipes Uses fresh fruits of the season Normally do not stock enough for the year. Have little funds and small premises for keeping large amounts of raw materials May be competitors during the season but big customers during off season Other medium and small scale industries Tomato products, wines, juices and fruit blend recipes Uses fresh fruits and vegetables as raw materials to their secondary products Cannot stock due to capital, convenience, expertise and space Potential customer Talking about competitors also there is a threat of substitute such and Soda and mineral water. 7.3 Market size and Trends According to the Confederation of Tanzania Industries directory (2007), the total market is about 316 consumers for these products. The business estimates to capture 10% in the first year 20% in the second year and growing to 30% in year five onwards. This will be due to gaining faith regarding quality as compared to imported products. The business administration will take care of customer training building regarding confidence building. Regarding a study by Tanzania Food Drugs and cosmetic Agency (TFDA) on Inventory of Food industries (2006), medium and small scale industries that will utilize SOMIL products are concentrated in Arusha, Moshi, Dar es Salaam, and Tanga regions and most of these utilize the product as raw material for making secondary products such as sauces, wines and juices. Government efforts to strengthen the increased production of non traditional crops such as fruits and vegetables because they are of high value to both farmers and the country impact positively to the availability of raw materials for SMS products and hence ensure readily availability of raw material for SMS products and hence ensure readily availability of products to clients. The world economic trends may have a positive impact on customers products due to reduction of imported concentrates. 8.0 MARKETING PLAN 8.1 Market Summary SOMIL fruits product will possesses good information about the market and known a great deal about the common attributes of the most prized customer. This information will be leveraged to better understand who is served, what their specific needs are and how SOMIL can better communicate with them. [Kotler P Keller KL1956, P.61-67] 8.2 Marketing strategy The initial focus will be locally where small scale and medium fruits processing industries are located. Due to capacity of the industry at the moment, there are no plans to go beyond Tanzania and Zanzibar. The strategy will initially be identification using data from Board of Internal Trade (BIT), the Ministry of Health and Social Welfare-TFDA and Ministry of Industries Trade and Marketing (MITM) as well as Tanzania Bureau of Standards (TBS) and other trade newsletters. The selected few will be visited for introduction and sample sending. Then a business may further advertise in public media newspapers, radio leaflets distributed to road users for know. In future we will advertise at Televisions also. 8.3 Concept testing Concept test system can improve the company chances of success in developing and introducing new products. Our organization will go door to door for the concept test in order to get the view of the public concerning with our types of product; this will be done in public area like schools, Hospital and churches. Design employs sequential public study in which up to 50 groups of 10 to 20 participants each test one product. These studies typically consist of three surveys of up to 30 questions each. The surveys are conducted among members of our Members. 8.4 Usability testing Usability testing is a technique used to evaluate a product by testing it on users. This can be seen as an irreplaceable usability practice, since it gives direct input on how real users use the system. This is in contrast with usability inspection methods where experts use different methods to evaluate a user interface without involving users. Usability testing focuses on measuring a human-made products capacity to meet its intended purpose. Examples of products that commonly benefit from usability testing are foods, consumer products, How ever in organization will used this test to improve our product in this areas efficiency, accuracy, recall, and emotional response. The results of the first test can be treated as a baseline or control measurement; all subsequent tests can then be compared to the baseline to indicate improvement. This test will assist the industries to know where we are going and what people says about our products, This test will be assist us to maintain our product and make it durable in all time for production, our organization will insure this test done before the product enter in the market. 8.5 Channel of distribution 8.5.1 Selecting a channel of distribution SOMIL when selecting a channel of distribution as Fruit product Industry will consider the follow: The consumer characteristics need and segment The company goals, resources expertise and experience The product value, complexity, perish ability and bulk The competition characteristics and tactics Distribution channels alternatives, characteristics and availability Legalities current law and pending laws. [Kotler PKeller KL1956, P.36-72] 8.5.2 Distribution standard SOMIL will have clear and measurable goals regarding service levels in physical distribution. In so doing there must be a clear distribution strategy for products to reach the target consumers, in this respect the clear distribution channel must be in place. 8.5.3 Customer Services SOMIL will understand the decisions involve delivery frequency, speed and consistency transportation and shipping to policies, whether to accept small customer orders; warehousing coordinating assortments; and so on. Poor performance in these areas may result in lost customers. [Kotler PKeller KL1956, P.36-72] 8.6 Production 8.6.1 Social responsibility. SOMIL we will consider the impact of companys action and operating in a way that balances short term profit needs with societies long-term need this ensuring the company survival in a health environment. 8.6.2 Natural resources SOMIL will make sure that the depletion of natural resources can be reduced if the consumption of scarce material is lessened and more efficient alternatives are chosen. 8.6.3 Environmental Pollution SOMIL will make sure that dangerous pollutants need to be eliminated from the environment and safe substitutes found. The environment protection is the major federal organization involved. [Ethical Partnership nd] 8.6.4 Child labour SOMIL we will make sure there is no possibility of child labour. Sometimes supervisors use this opportunity to pay this child less while they benefit against them. We will obey the law and perform as per given instructions. 8.6.5 Marketing SOMIL as a company which deal with products fall under the umbrella of the Marketing Mix (product, price, place and promotion) which describes the strategic position of a product in the market place. An enterprise involved in producing fruits products must have clear strategies of producing those products. Also the firm dealing with fruits production should have clear pricing strategies, promotion strategies and placing or distribution strategies. An enterprise we must be able to market what we produce and produce what we can market. Consumerism SOMIL fruits product manufacturer we agree that customer has right to be informed and protected against fraudulent, deceitful, and misleading statements, advertisement, labels Consumer safety SOMIL fruits product manufacturer we will make sure that, consumer are protected against dangerous and unsafe product. Consumer information and education SOMIL fruits product manufacturer we are aware that, consumer have right to be informed includes protection against fraudulent deceitful, or grossly misleading information advertising, labeling, pricing, packaging or other practices. Consumers choice SOMIL fruits product manufacturer we know that consumer has a right to choose means that consumers have available several products and brands for which select. Consumers right to be heard SOMIL fruits product industry, consumers has right to be heard means that consumers should be able to voice their opinions to business, government and other parties. This gives consumers input into the decisions that affect them. Advertisement/Promotion Promotion and advertisement our product should be an almost unconscious part of our everyday sales plan. We dont have to look far for an opportunity to market and merchandise juice. A great way to stand out from the competition is to produce our own juice, thereby offering customer juice beverages that cant be found elsewhere. SOMIL we have to understand our competitors, what they doing and we will take action against these competitors, especially as an entire generation or retail buyers is at stake. To reach the public, advertising is a necessity. We believe that advertising may reach non-juice drinkers and thus bring in additional customer to our business. Advertising deserves greater consideration as a part of the solution to certain

The Problem of Global Warming Essay -- essays research papers

Global Warming is the increase of temperature on Earth which is caused by human activities and will have very serious consequences for life on Earth if humans don't start to do something about it now. Global Warming is caused when the Greenhouse Gases combines with the atmosphere and traps heat. It is strongly related to pre-human and pre- industrial global warming, it is also weakly related to depletion of ozone layer, which was caused by the CFC (Chlorofluorocarbons) gas. The effects of global warming on the environment are dangerous, such as: rising of sea level because polar caps melt, changes in the pattern of precipitation, floods, droughts, heat waves, hurricanes and tornadoes. These effects would take away life and destroy houses or anything else human made. The effects of global warming on humans are also dangerous, such as: affecting human health by affecting ecosystem and productivity, air quality, diseases and agricultural production. We could prevent all of these from happening by using alternative sources, for example: wind, solar, nuclear and water power. With the help of modern technologies, we could increase the Earth?s reflectivity and keep it cool. The most important thing is to keep population under control and recycle. Global Warming is the process where in the Earth is getting warmer and the atmosphere is getting thicker because the amount of Greenhouse Gases (GHGs) is increasing. Greenhouse Gases includes carbon dioxide, methane gas, nitrous oxide, water vapor and CFC (chlorofluorocarbons). These gases (except CFC) are naturally there in the atmosphere, but too much of them traps too much heat. Even though carbon dioxide is considered to be the biggest cause of global w... ...ees release lots of carbon dioxide as they are burnt. Trees should be replaced as they are chopped down. The easiest thing to start with is recycling because we could start doing it at home, office and school. Recycling paper means we reduce the need for cutting down trees for new paper and if all people started to use things carefully and recycling things, the reduction of resources need will occur. This will have positive effects and reduce Global Warming. Global Warming is a very serious problem that?s happening now to our Earth. We should do something to prevent this and become more serious before it harms us later on. There have been signs of global warming and the record of highest temperature mostly occurred on the last few years. If everybody in the world starts to do something small, the effect will be big. So, must start whenever we can.

Free Awakening Essays: Kate Chopin :: Chopin Awakening Essays

The Awakening: Kate Chopin Kate Chopin was an American author who lived during the nineteenth century, but because of The Awakening, a novel which was considered scandalous at the time, she has just recently been "†¦accepted into the canon of major American writers"(Trosky 105). Through Kate Chopin’s main character of The Awakening, Edna Pontellier, she is able to portray her feelings and desires that were otherwise suppressed by the ideals of American society at that time. Kate Chopin was born on February 8, 1851 in St. Louis, Missouri. She was brought up in a family that was a member of the prominent French- Creole community. During her childhood she possessed a love for reading. Her favorite types of literature were fairy tales, poetry and novels. She secluded herself for almost two years, away from her family and school in her attic, spending the majority of her time reading (Trosky 102). After her schooling, Chopin spent her days as a belle in St. Louis’ high society. She was greatly ad mired for both her beauty and wit. She continued her readings, becoming more interested in contemporary works. In 1869, she traveled to New Orleans where she met Oscar Chopin, whom she married. Though married, Chopin remained fairly independent, practicing habits such as smoking and walking alone in the city, two things unheard of from women at that time.(Trosky 102) In 1883, Oscar Chopin died of swamp fever. By 1884, Kate moved with her six children back to St. Louis. Around this time, Chopin began her writing career, writing in periodicals and publishing collections of short stories. She received good reviews and continued to write at an impressive rate. Her acclaim was short lived though, following the publication of The Awakening. "This work, which would eventually be recognized as her masterpiece and a seminal work in American feminist fiction, first proved her most notorious publication and her literary undoing."(Trosky 103) At the time, Chopin’s novel was considered sc andalous and immoral, for it dealt largely with a women’s sexuality. At the time The Awakening was written, a novel would be judged on it’s moral message as much as its artistic merits. After the negative response of critics, Chopin published a few more works, but nothing was well received. She received little recognition, which when given, described her as an author of southern local color stories (Trosky 103). Local color writing was a movement which tried to capture the feeling of a particular region through descriptions of local speech and manners("The Age of Realism").

The Formulation of Accounting Standards

The Corporations Law which came into effect in January 1991, has made substantial changes to the way business is conducted in Australia. Previously some illegal practices are now legal, and some legal practices are now deemed to be illegal. Under the Corporations Law finical statements have to be made out in accordance to the various accounting standards. AASB 1024 and AASB 1013 are two such standards. Both these standards have been through a reform process over the last few years, and changes that have been made to them, have determined the level of compliance to the Corporations Law. The formulation of accounting standards is based on the premise that financial information should be available to users of these statements to enable them to make decisions about the allocation of scarce resources and in the evaluation of such decisions. The ASC is the sole administering body of the Corporations Law, and it is directly accountable to the Commonwealth Attorney-General and the Commonwealth Parliament. Prior to the changes of the Corporations Law in 1991, compliance with applicable Accounting Standards as not necessary, provided that the financial statements gave a true and fair view. Yet after 1991 changes, the compliance with the applicable Accounting Standards increased. Section 298(1) of the Corporations Law requires that ‘a companies directors shall ensure that the company†s financial statements for a financial year are made out in accordance with applicable accounting standards. † By the interaction of section 298(1) and 299(1), â€Å"where the accounts are made out in accordance with applicable accounting standards but do not otherwise give a true and fair view of the matters †¦ the directors must add such information and explanations as will give a true and fair view of those matters. † Under section 224 of the Australian Securities Commission Act 1989, saw the establishment of the Australian Accounting Standards Board (AASB). The AASB supports an accounting regulatory system whereby legislation provides a â€Å"framework under which accounting regulation can be developed and implemented by a thorough due process† AASB 1024 Consolidated Accounts is one such standard. AASB 1024 requires â€Å"the consolidation of companies which are controlled even if there is less than majority ownership. The effects of most intra-group transactions will then be eliminated a part of the consolidation process† (Henderson & Peirson 1994). A company is required to present consolidated accounts only when it is the parent entity of an economic entity which is a reporting entity. The consolidated accounts are comprised of a consolidated profit and loss account and a consolidated balance sheet. This balance sheet includes all the entities controlled by the reporting entity at the end of the financial year. Compliance with AASB 1024 became mandatory for financial statements published on and after December 31, 1991. In 1991 changes were also made to definitions in the wording of AASB 1024. To remove the option to deconsolidate one or more subsidies of the reporting entity, The definition of ‘group accounts† was replaced by ‘consolidated accounts†. The Corporations Law also broadened the base of the ‘economic entity† to which consolidated accounting applies , no longer allowing other forms of ‘group accounting† reporting. In the Editorial of the Australian Financial Review on August 5, 1991, appeared the following paragraph: â€Å"The recently introduced standard on consolidations (AASB 1024) aims at producing a clear picture of the financial health of reporting companies. It will certainly catch a lot of off-balance sheet devices† The functions of consolidation or group accounting is not universally accepted. AASB 1024 and the relevant sections of the Corporations Law presume that the functions is to depict the affairs of an economic entity or group of companies. One would expect consolidated accounts to contain the data in separate accounts, but not including data which are not sourced nor excluding data which are. There is concern as to the utility of the consolidated financial statements. One such event, the $2. billion bail out of the State Bank of South Australia, confirmed the presence of doubt regarding the accounting data about groups. â€Å"The recent introduction of AASB 1024 ‘Consolidated Financial Statements† and the consequential amendments to the Corporations Law may play a significant role in determining off balance sheet financing, but these reforms have been long overdue and there still remains doubt as to their effectiveness† Prior to the changes, where the operations of a subsidiary were totally different from those of its parent company it was argued that it would be misleading to consolidate the accounts of the companies. One immediate way of establishing the impact of AASB 1024 on companies reporting practices would be, if investments, which formerly were not reported as subsidiaries, were reported as such after December 31, 1991. If compliance with AASB 1024 has had any impact on company reporting practices it could be expected that former associates as well as former subsidiaries for which separate sets of accounts were prepared, would now be included in the consolidated accounts. After AASB 1024 became effective, referencing was no longer made to parent and subsidiary companies, but rather to controlling entities. By this change in definition, resulting from the consolidation of an investment was taken as evidence that introduction of AASB 1024 has ‘influenced management†s choice of accounting policy. Consolidated accounts now give an accurate picture as to the profit and loss and provide more meaningful information for users of the accounts, however it would appear that there is substantial compliance with the consolidated accounts standard, yet little influence on the financial statements. The second standard to be examined is AASB 1013 ‘Accounting for Goodwill†. Goodwill probably is the most â€Å"intangible of intangibles because it is difficult to determine just exactly what it is† . In practice it has evolved to include everything contributing to an existing business†s advantages over a new one or anything that enhances a company†s earning potential. Goodwill defined is as an entity†s unidentifiable intangible assets. These assets that are unidentifiable include â€Å"loyal and efficient employees, an established clientele, suppliers †¦ and a good name and reputation. † (Henderson & Peirson 1994). Goodwill is measured as the difference between the price paid for an entity and the fair value of the identifiable net asset acquired. Fair value is defined as the ‘amount for which an assets could be exchanged between a knowledgeable, willing buyer and a knowledgeable, willing seller in an arm†s length transaction† . A distinction is drawn between internally generated goodwill and purchased goodwill. Both internally generated goodwill and purchased goodwill give rise to probable future economic benefits. However only the latter â€Å"is to be recognised as an assets because ‘internally generated goodwill is not usually capable of reliable measurement† â€Å". .† (Henderson & Peirson 1994). AASB 1013 was approved on April 18, 1988 and the purpose of this was in ‘regard to the acquisition of an entity, is to specify the manner of accounting for goodwill and discount on acquisition †¦ † . Prior to the dates before the goodwill standards were introduced, most preparers and their auditors â€Å"chose to ignore their professional responsibility to ensure compliance with the accounting standards. Prior to the introduction of the standard, little attempt was made to establish that the amount attributed to goodwill actually reflected unidentifiable assets. This meant the goodwill amounts was inflated by omission of valuable intangible assets. With the omission of these valuable intangible assets from the balance sheet therefore understates the net worth of the reporting entity. The introduction of an accounting standard regarding goodwill had the purpose of appropriate determination and achieving the proper recording of other acquired assets. Since the introduction of the standard, the recognition in the financial reports has reached ‘plague proportion†11 with accounting for intangibles reveals an increase in the numbers of companies recognising and amortising goodwill. It is now common place to see the recording of † †¦ brand names, software, patents and licences and even assets of a more nature like intellectual or sporting property† 11. AASB 1013 also served to minor service which was to reminder the reporting entity that the intangible assets, once recognised, attracted the same obligations as that of non-current assets, including depreciation and amortisation. Accounting for goodwill has always attracted interest, and all those involved with it have their own view on how it should be reported in the financial statements. â€Å"The failure of the community to accept readily a single concept of goodwill and to adopt the consequential accounting treatment can only be explained by the nature of the product we are considering – its† intangibility11 . Both AASB 1024 and AASB 1013 have received their criticism in the past, yet both of them have many positive aspects. Both these standard have changed management practices in the two fields. There is enough evidence for both standards to suggest that there is compliance with section 298(1) of the Corporations Law, yet in some cases this compliance is limited to the situation and the reporting entity. AASB 1013 has proven to be (prior to its introduction) a relatively large unknown quantity, now having all but changed, and with regard to AASB 1024, a more informed and detailed reports of corporate groups provide more meaningful information.