Four function of management Essay Example | Topics and Well Written Essays - 750 words

Four capacity of the executives - Essay Example These are as following; 1. Arranging: It is the continuous procedure of building up the business' crucial destinations and deciding how they will be cultivated. Arranging is the starting capacity of the board and furthermore typifies different capacities. It is the capacity of the executives, with which, the board guarantees coordinating worker endeavors towards gathering and achievement of authoritative objectives. For the drawn out accomplishment of an association, it is important to set quick and long haul objectives, and to pick methodologies of their accomplishment. This capacity is straightforwardly identified with the emerging of numerous inquiries; like, where are we now What would we like to achieve How are we going to do it Who will do it When will we do it Why will we do it Etc. For instance, Bill Gates - the originator of Microsoft Corporation - does the important arranging by building up missions and difficulties for Microsoft the board to achieve, for example, getting ready for the presentatio n of Windows Vista and its date for worldwide propelling. 2. 2. Sorting out: This capacity is connected with distributing and designing assets to achieve and set up the favored objectives and targets during the arranging forms. In this capacity, steps are taken out so as to make an interpretation of the arranged strides into the real world while relegating the fundamental errands, setting up cutoff times, allotting assets, and choosing what structures are yet to be made and to whom extra duties ought to be designated, and so on; In the Microsoft, Bill Gates adequately sorts out the utilization of organization's assets while ensuring that the organization effectively accomplishes its targets and long haul objectives. For instance, Bill Gates visits different nations over the world and recruits top class I.T experts to ensure that the last item is a world class one while ensuring that the simultaneous progressing ventures at Microsoft easily get inch to inch nearer towards their fruitful culmination. Bill Gates accomplishes this all by arranging Microsoft strategies over the time and by dispensing the money related assets for each and every progression forward. 3. Driving: It is the capacity which is legitimately identified with the administration assignments of building up course and impacting individuals to follow that heading (Carter McNamara, 2002). This capacity, maybe, can be separated into further three sub-classes of spurring, planning and coordinating. Coordinating is the path with which supervisors manage their subordinates while indicating them the route with which some assignment is to be cultivated. Inspiring is the arrangement of administrative exercises with the point of causing legitimate representative execution while including the discovering of worker needs and making reward frameworks for quality and convenient work. Planning is connected with who illuminates whom about what. It additionally coordinates subtleties and/of occasions, and guarantees lucid activity. At Microsoft, Bill Gates drives the exit plan to progress by setting his own model. His boss strategies for inspiring, organizing and coordinating ensure that th e organization has the correct authority to convey it forward later on with progress. Remunerating the Windows XP group for thinking of such great programming in due measure of time was an

Different Views on Organic Food Annotated Bibliography - 1

Various Views on Organic Food - Annotated Bibliography Example The branch of horticulture in the US needed to acknowledge hereditarily built sugar seeds to be offered to ranchers. There was the affirmation that this choice will expand the danger of natural food being sullied by hereditarily designed materials. This has incited a proposition to watch natural nourishments against hereditarily designed seeds. A few people contended that hereditarily built nourishments don't exist together with natural nourishments on the grounds that these two strategies for cultivating don't relate. In any case, it has been contended that hereditarily built nourishments pollute natural nourishments through exchange of hereditary materials by means of dust grains, which thus undermine natural nourishments. It is hazy to decide the medical advantages of natural nourishments since they are accepted to contain microbial microorganisms that is found in natural compost. These microorganisms are unsafe to the strength of an individual. In any case, natural nourishments are not increasingly defiled like regular food sources on the grounds that the utilization of manufactured manures in ordinary food sources is extremely unsafe in that these composts contain hazardous synthetic substances like phosphorous that influence human digestion. As Dena et al contend, natural nourishments are more secure and more advantageous than traditional nourishments since they contain more supplements and are sans synthetic. Further, Dena et alâ state that eating natural nourishments may diminish introduction to herbicide deposits and pesticides safe microorganisms.

Basic Finance :: Business Finance Analysis

The primary reason for contemplating fund is to increase a comprehension of the money related execution of an organization, partnership or industry. By taking a gander at an organization's budgetary presentation, choices can be made about numerous things by various players. Organizations are evaluated by various offices that analyze monetary records and potential for development. Fitch appraisals are a genuine case of this. My boss has an A++ Fitch rating. This high appraising permits a non-benefit organization to acquire cash at lower financing costs. In an openly held organization, which is one that has investors, the principle concern is to keep the investors upbeat. Investors inject companies they have faith in (typically dependent on monetary execution) with capital. At the point when an organization is viewed as a poor monetary hazard, the open won't be in a rush to purchase its stock. So who is influenced by fund? Investors, as referenced beforehand, are the concentration in traded on an open market organizations. They are by all account not the only individuals who consider financials, in any case. The CEO, CFO and some other C position have responsibility to answer to the board about the money related execution of the organization. The board is liable for making and keeping up both capital and operational spending plans. Representatives are required to keep up specific gauges of profitability. Clients are influenced by accounts too. Consider gas costs, and how expanded expenses underway are given to the purchaser. When taking a gander at an organization's accounts, there are basically four things to consider: the pay explanation, the value profit proportion, the monetary record, and the announcement of incomes, (Block, 2005). The salary explanation is an instrument used to gauge productivity over a given timeframe, for example quarterly, yearly. The pay proclamation assesses the expense of creating products or administrations and the cash that was made because of selling those merchandise/administrations. Net benefit and net profit are two key highlights to take a gander at. The value income proportion gauges the general valuation of profit, (Block, 2005). This is a perspective on your organization's stock profit contrast with different organizations both inside and outside your industry. This proportion is influenced by numerous factors like attractiveness, deals development, and the obligation value structure of an organization.

Radio Astronomy in the Desert

If you drive across the Plains of San Agustin in central west New Mexico, youll come across an array of radio telescopes, all pointed toward the sky. This collection of big dishes is called the Very Large Array, and its collectors combine to make a very large radio eye on the sky. Its sensitive to the radio part of the  electromagnetic spectrum  (EMS). Radio Waves from Space? Objects in space give off radiation from all parts of the EMS. Some are brighter in some parts of the spectrum than others. Cosmic objects that give off radio emissions are undergoing exciting and energetic processes. The science of radio astronomy is the study of those objects and their activities. Radio astronomy reveals an unseen part of the universe we cannot detect with our eyes, and its a branch of astronomy that began when the first radio telescopes were built in the late 1920s by Bell Labs physicist Karl Jansky. More about the VLA There are radio telescopes around the planet, each tuned to frequencies in the radio band that come from naturally emitting objects in space. The VLA is one of the most famous and its full name is the Karl G. Jansky Very Large Array. It has 27 radio telescope dishes arranged in a Y-shaped pattern. Each antenna is large — 25 meters (82 feet) across. The observatory welcomes tourists and provides background information about how the telescopes are used. Many people are familiar with the array from the movie Contact, starring Jodie Foster.  The VLA is also known as the EVLA (Expanded VLA), with upgrades to its electronics, data handling, and other infrastructure. In the future it may  get additional dishes.   The VLAs antennas  can be used individually, or they can be hooked together to create a virtual radio telescope up to 36 kilometers wide! That allows the VLA to focus in on some very small areas of sky to gather details about such events and objects as stars turning on, dying in supernova and hypernova  explosions, structures inside giant clouds of gas and dust (where stars might be forming), and the action of the black hole at the center of the Milky Way Galaxy. The VLA has also been used to detect molecules in space, some of them precursors to pre-biotic (related to life) molecules common here on Earth.   VLA History The VLA was built in the 1970s. The upgraded facility carries a full observing load for astronomers around the world. Each dish is moved into position by railroad cars, creating the correct configuration of telescopes for specific observations. If astronomers want to focus on something extremely detailed and distant, they can use the VLA in conjunction with telescopes stretching from St. Croix in the Virgin Islands to Mauna Kea on the Big Island of Hawaii. This larger network is called the Very Large Baseline Interferometer (VLBI), and it creates a telescope with a resolving area the size of a continent. Using this larger array, radio astronomers have succeeded in measuring the event horizon around our galaxys black hole, joined the search for dark matter in the universe, and explored the hearts of distant galaxies.   The future of radio astronomy is big. There are huge new arrays built in South America, and under construction in Australia and South Africa. Theres also a single dish in China measuring 500 meters (about 1,500 feet) across. Each of these radio telescopes is set well apart from the radio noise generated by human civilization. Earths deserts and mountains, each one with its own special ecological niches and landscapes, are also precious to radio astronomers. From those deserts, astronomers continue to explore the cosmos, and  the VLA remains central to the work being done to understand the radio universe, and takes its rightful place with its newer siblings.

The Battle of Fort Niagara in the French and Indian War

Following his defeat at the  Battle of Carillon  in July 1758, Major General James Abercrombie was replaced as the British commander in North America that fall. To take over, London turned to  Major General Jeffery Amherst  who had recently  captured the French fortress of Louisbourg. For 1759 campaign season, Amherst established his headquarters below Lake Champlain and planned a drive against  Fort Carillon  (Ticonderoga) and north to the St. Lawrence River. As he advanced, Amherst intended for  Major General James Wolfe  to advance up the St. Lawrence to attack Quebec. To support these two thrusts, Amherst directed additional operations against the western forts of New France. For one of these, he ordered Brigadier General John Prideaux to take a force through western New York to assault Fort Niagara. Assembling at Schenectady, the core of Prideauxs command consisted of the 44th and 46th Regiments of Foot, two companies from the 60th (Royal Americans), and a company of Royal Artillery. A diligent officer, Prideaux worked to ensure the secrecy of his mission as he knew if the Native Americans learned of his destination it would be communicated to the French. Conflict Dates The Battle of Fort Niagara was fought July 6 to July 26, 1759, during the French Indian War (17654-1763). Armies Commanders at Fort Niagara British Brigadier General John PrideauxSir William Johnson3,945 men French Captain Pierre Pouchot486 men The French at Fort Niagara First occupied by the French in 1725, Fort Niagara had been improved during the course of the war and was situated on a rocky point at the mouth of the Niagara River. Guarded by a 900-ft. battlement that was anchored by three bastions, the fort was garrisoned by slightly less than 500 French regulars, militia, and Native Americans under the command of Captain Pierre Pouchot. Though Fort Niagaras eastward defenses were strong, no effort was made to fortify Montreal Point across the river. Though he had possessed a larger force earlier in the season, Pouchot had forwarded troops west believing his post safe. Advancing to Fort Niagara Departing in May with his regulars and a force of colonial militia, Prideaux was slowed by high waters on the Mohawk River. Despite these difficulties, he succeeded in reaching the ruins of Fort Oswego on June 27. Here he joined with a force of around 1,000 Iroquois warriors which had been recruited by Sir William Johnson. Holding a provincial colonels commission, Johnson was a noted colonial administrator with a specialty in Native American affairs and an experienced commander who had won the Battle of Lake George in 1755. Wishing to have a secure base in his rear, Prideaux ordered the destroyed fort to be rebuilt. Leaving a force under Lieutenant Colonel Frederick Haldimand to complete the construction, Prideaux and Johnson embarked in a fleet of boats and Bateaux and began rowing west along the south shore of Lake Ontario. Evading French naval forces, they landed on three miles from Fort Niagara at the mouth of Little Swamp River on July 6. Having achieved the element of surprise he desired, Prideaux had the boats portaged through the woods to a ravine south of the fort known as La Belle-Famille. Moving down the ravine to the Niagara River, his men began transporting artillery to the west bank. The Battle of Fort Niagara Begins: Moving his guns to Montreal Point, Prideaux began construction of a battery on July 7. The next day, other elements of his command began building siege lines opposite Fort Niagaras eastern defenses. As the British tightened the noose around the fort, Pouchot dispatched messengers south to Captain Franà §ois-Marie Le Marchand de Lignery asking him to bring a relief force to Niagara. Though he had refused a surrender demand from Prideaux, Pouchot was unable to keep his contingent of Niagara Seneca from negotiating with the British-allied Iroquois. These talks ultimately led to the Seneca leaving the fort under a flag of truce. As Prideauxs men pushed their siege lines closer, Pouchot anxiously awaited word of Lignerys approach. On July 17, the battery at Montreal Point was completed and British howitzers opened fire on the fort. Three days later, Prideaux was killed when one of the mortars burst and part of the exploding barrel struck his head. With the generals death, Johnson assumed command, though some of the regular officers, including the 44ths Lieutenant Colonel Eyre Massey, were initially resistant. No Relief for Fort Niagara: Before the dispute could be fully resolved, news arrived in the British camp that Lignery was approaching with 1,300-1,600 men. Marching out with 450 regulars, Massey reinforced a colonial force of around 100 and built an abatis barrier across the portage road at La Belle-Famille. Though Pouchot had advised Lignery to advance along the west bank, he insisted on using the portage road. On July 24, the relief column encountered Masseys force and around 600 Iroquois. Advancing on the abatis, Lignerys men were routed when British troops appeared on their flanks and opened with a devastating fire. As the French retreated in disarray they were set upon by the Iroquois who inflicted heavy losses. Among the multitude of French wounded was Lignery who was taken prisoner. Unaware of the fighting at La Belle-Famille, Pouchot continued his defense of Fort Niagara. Initially refusing to believe reports that Lignery had been defeated, he continued to resist. In an effort to convince the French commander, one of his officers was escorted into the British camp to meet with the wounded Lignery. Accepting the truth, Pouchot surrendered on July 26. The Aftermath of the Battle of Fort Niagara: In the Battle of Fort Niagara, the British sustained 239 killed and wounded while the French incurred 109 killed and wounded as well as 377 captured. Though he had wished to be allowed to depart for Montreal with the honors of war, Pouchot and his command were instead taken to Albany, NY as prisoners of war. The victory at Fort Niagara was the first of several for British forces in North America in 1759. As Johnson was securing Pouchots surrender, Amhersts forces to the east were taking Fort Carillon before advancing on Fort St. Frederic (Crown Point). The highlight of the campaign season came in September when Wolfes men won the Battle of Quebec.

Solow Model Essay - 3120 Words

What are the main limitations of the Solow model? Discuss with reference to theory and evidence. The Solow Model, also known as the neoclassical growth model or exogenous growth model is a neoclassical attempt created in the mid twentieth century, to explain long run economic growth by examining productivity, technological progress, capital accumulation and population growth. This model was contributed to by the works of Robert Solow, in his essay ‘A Contribution to the Theory of Economic Growth’ and by Trevor Swan in his work, ‘Economic Growth and Capital Accumulation’, both published in 1956. The model is perceived to be an extension of the 1946 Harrod-Domar model, which Solow (1956) describes as a ‘model of long-run growth which†¦show more content†¦Also, technology is regarded to be exogenous and is not explained by the model. Both these assumptions have been used by many economists to critique the model and contribute to the limitations of the model elaborated on further in the essay. What is the Solow Model designed to show? The Solow Model is designed to show how the growth in the labour force, capital stock and advances in technology interact and how they affect a nations total output. The model is important for the analysis of economic growth in developing countries as it demonstrates the nature of an economy to be a key determinant of steady-state capital stock within a country. If the savings rate is high, the economy will have a large capital stock and thus high level of output and vice versa. Correspondingly changes in capital stock can lead to economic growth. The Solow model indicates that countries with high population growth (with no change in capital) will have lower levels of output per person. In the model therefore, population growth capital per worker and output per worker are constant. Correspondingly, the aim of the Solow Model becomes clear: it is to show that an economy will incline towards a long-run equilibrium K/L (k) ratio at which Y/L (y) is also in equilibrium, so that Y, K and L all grow at the same rate, that is n. Ultimately the model predicts long run equilibrium at the naturalShow MoreRelatedThe Solow Growth Model By Robert Solow1705 Words   |  7 PagesThe Solow growth model was created by Robert Solow and was introduced to show how factors of production and advances in technology effect the nation’s total output. The model is made up of two components being the production and investment functions. This essay will discuss the possible effects, aspects and traits that an increase in population will have on the steady-state of the Solow growth model. This analysis will be followed by the effects of population growth on the growth rates in the modelRead MoreThe Effect Of Population Growth On Solow Growth Model1532 Words   |  7 PagesThe effect of population growth on Solow Growth model I. Introduction In order to study the economic growth, many economists had established a large number of economic growth model. In 1948, Roy Forbes Harrod (an economist in UK) and Evsey David Domar (the economists in US) propounded a economic growth model together. It called Harrod-Domar Growth Model. But Some Western scholars believe Harrod-Domar Growth Model overly pessimistic. And it does not fit the fact of the development of capitalismRead MoreThe Solow Swan Model : An Economic Model Of Long Run Economic Growth980 Words   |  4 PagesAnalysis The Solow-Swan model is an economic model of long-run economic growth in neoclassical economics. The model was developed by Robert Solow and Trevor Swan, independent of each other in 1956. This model is sometimes referred to as simply the Solow model, or the Neoclassical Growth model. The model focuses on four variables: output or GDP, capital, labor, and â€Å"knowledge†. The textbook Solow-Swan model is set in continuous time where there is no international or government trade. The Solow-Swan modelRead MoreThe Effects Of Population Growth On The Steady State Of The Solow Growth Model1502 Words   |  7 Pagessteady-state of the Solow growth model INTRODUCTION As the creation of neo-classical economic growth model pioneer, Solow growth model creates a new breakthrough in terms of the theoretical model in the reality and plays an important role in study in long-run economic growth model. The main purpose of this paper is to discuss the effects of population growth on the steady-state and growth rates of the Solow growth model. The structure of this essay is as follows: Section I introduces the Solow growth modelRead MoreExplain How the Solow Growth Model Would Analyse the Effects of a Fall in the Household Saving Ratio.2346 Words   |  10 PagesPART 1 Explain how the Solow growth model would analyse the effects of a fall in the household saving ratio. In this essay, I will focus on two important aspects. The first is to give a brief historical outline of the Solow growth model. The second thread runs express how the outline on the Solow growth model might explain the effect of a fall in the household savings ratio.My essay will be guided by the diagram provided on which I have to make specific references and to think throughRead MoreThe Theory Of Economic Growth Model2281 Words   |  10 PagesMany model mechanisms have been used to study the worldwide growth and income differences across countries. A fundamental model that economist have used to study these issues is the Solow growth model. This essay concentrates on the analysis of this model. Firstly, the derivation of the model will be demonstrated including the needed assumptions. Then the impact of a change in the saving rate on output and on consumption will be illustrated using diagrams. The primary conclusion of the Solow modelRead MoreInstitutional Environment as a Determinant of Chinese Private Firm Export Behaviors899 Words   |  4 Pagesintroduce â₠¬Å"institutional environment† as a measure of the degree to which policies and institutes in one region differ from those in another region in china, where market are distorted across space and region[1]. We employ a modified heterogeneous firm model developed by Mayer and Melitz et al(2011)[12] to examine whether such institutional environment differences affect the firms’ export behavior. Employing data for china firm-level exports in 29 province for which measures of institutional environmentRead MoreThe Model Of Economic Growth1346 Words   |  6 PagesThe authors have studied the Solow Model of economic growth, which assumes the neoclassic production function of decreasing returns to capital. Solow proposed the model while considers the rate of saving and population growth as exogenous and demonstrated that the countries reach the steady state level of income per capita. However, the classical Solow model is not able to explain cross-country variation in the stand ard of living. The Solow model predicts the effect of saving and population growthRead MoreHuman Capital And Non Physical Capital1535 Words   |  7 Pagesdifferences in human capital reveal as cross-country differences in TFP, but it is still hotly debated for how much human capital can account. Mankiw, Romer and Weil (1992) emphasize the importance of investment in human capital and claim that the Solow growth model augmented to involve human capital can account for most of the variation in differences in output per capita. On the other hand, several recent works provide different conclusion, for example, Manuelli and Seshadri (2005) argue that most crossRead MoreEconomic Growth Theories and Models, A section of a Research Paper1524 Words   |  6 PagesLiterature review Classical Theory of Economic Growth Harrod Domar Growth Model The Neoclassical growth Model Empirical literature 2.1 Theoretical Literature The long history of ideas on economic growth started from the classical economists like Adam Smith, Robert Malthus, Ricardo and Marx. For more than three decades the Neoclassical and the Endogenous Growth theories were arguing and forwarding economic reasons on trend of economic growth through investment as a general and private investment

Business Plan for Toy Shop free essay sample

They are used for decorations by adults and for education amp; play by children. Toys are also being used for entertainment and child development. Plastic toys, along with soft toys (mainly dolls) and board games, make up about 80% of the Indian market in value terms. The change that is discernible is the decline in Importance of board games (other than puzzles), which involve play by a group of children. Those in the trade argue that, with smaller family size today and the growing incidence of both parents working, there is little scope for board games, which families used to traditionally play together. The emphasis these days is much more on toys, with which a child can play on his/her own. Market Dynamics of the Indian Toy Trade The Indian toy market exhibits some of the characteristics common to any toy market while others have uniquely the Indian character. Individual toys have a short life cycle. There is a constant need for novelty. Consumer tastes change rapidly. Resurrection of old toys does not work – a new content has to be added or altered. These rules, in general, apply to most toy markets internationally. In addition, the Indian market has its own angularities. Toy sales in India have well defined seasonal patterns coinciding with the festival season. Generally, the time period from July to November is the high season with temporary surges in some States in December amp; March. Toy selling in India often involves selling to 3 individuals simultaneously, namely the child, who will use the toy, the mother, who is concerned with safety, space to play, etc. and the father who controls the purse strings. The market is also highly price sensitive. This trend has been reinforced by the entry of large-scale imports of cheap and novel toys from China. These have mostly been unbranded, of low priced and indifferent quality toys. The past decade has seen the Indian toy industry making quick strides in terms of production and exports. At present, India produces a wide range of toys, namely plastic and mechanical activity toys, plastic and soft dolls, stuffed toys, board games, puzzles, educational games and toys, metal toys, electronic toys and games. It is estimated that the toy production in India is around INR 5. 50 billion in the organized sector and INR 12. 50 billion in the unorganized sector with nearly 20% annual average growth rate. There are more than 3000 units in the small-scale sector including large number of units in the cottage sector. Some large/MNCs’ toy units like the Mattel, Lego and Funskool are also present in India. With international quality toys available in India now, the average spending on toys has increased substantially and this process is supported by an increase in disposable income at the customer end. Introduction â€Å"To every child, presenting a toy creates a special attachment between the two. † We intend to satisfy the needs of the children mainly aged below 10yrs. y having an â€Å"KIDZONE† as a part of organized retail, catering to almost all the trifling requirements of kids. Service will be one of our main focus areas wherein we intend to have a â€Å"play n feel the toys† zone attracting the kids to enjoy with toys. This facility will give a real feeling of amusement to children, hence attracting the kids and parents towards it. Thereafter we will al so provide a babysitting facility for parents shopping throughout the mall and in the meantime the trifling needs of babies will be taken care of. Secondly, we will focus on disintermediation of procurement channel by directly sourcing the finished products from the toy manufacturers mainly from China amp; other manufacturers from India. Most importantly we are looking forward to revolutionize the toy industry by having merged quality with fun wherein all the safety issues would be taken care ensuring the source of playfulness not becoming a hysterical item. Above all our long term goal is to make our retail outlets as a brand name well recognized in toy industry and increase the organized retail market share in toys segment. Management Team Vishwanath Patil Ajit Mangarulkar Piyush Borde Yogendra Bhosale Kunal Dalal Marketing Plan SWOT Analysis Strengths: Our business would impart touch amp; feel factor to the child We would impart child caring facility in our store where the parents can leave their child and go for shopping which will in turn lead to sales by having child for more hours in shops amp; can be addicted or fascinated to any of the toy Large amp; Growing Population (Market Size data to found out) – Age group between 0-8 years Maximum Loyalty towards shop Demonstration Effect Higher Margins due to large imports from China, Hong Kong amp; other countries Wide range of products to choose Fewer bargains for the products Increase in disposable income of middle class Weakness Emotional attachment towards toy which leads to non repetitive buying Price sensitivity market Safety Issue in terms of lead contain, sharpness of toys etc Individual toy have shorter life cycle amp; consumer taste changes rapidly Opportunity Untapped organized sector which consists of only 10% of total toy industry. Better support from government Demand for Educational toy in the market Threats Due to large expansion of Mall Culture, there is increase in competition from the players Big Fish with deep pockets will able to sell products at competitive price (Entry of global brands) Marketing Mix The marketing mix is often summarized as the four P’s – Product, Price, Place and Promotion. Product The type of product that would be placed in the store will be dependent on the age group. During the initial period the store would cater to age group of from the day child is born to 8 years. The later as the store expands and capital is generated the store would cater to toys catering to people with age more than 8 years and toys for adult. The product that will be defined within age group is as follows 0-24 months: Teethers, squeaks, Tomy, balls, soft toys, baby education toys and others. Photos of some of products are given below. 2 years to 4 years: puzzles, cars, Helicopters Photos of some of products are shown below 4years to 6 years: Magic tricks, electronic cars and helicopters, electronic gadgets and toys of film stars and other famous personality, famous cartoon character, Barbie amp; others. Photos of some of products are shown below: 6years to 8 years: Tricycles, Bicycles, and other ride on toys. Apart from that the musical toys and electrical operated toys will also be placed in the shelves 8 years to 10 years: Board room games, chess and other family games would be the major attraction The stuffed toys and Plush toys would be all time major attraction towards the customers. The above mentioned is only a part of whole list of offerings offered by the store. The main unique selling proposition would be the Indian touch in toys. We will also try to procure the toys of famous personalities –all time legends like Shahrukh Khan from film industry, Dhirubhai Ambani from business,  Narayan Karthikeyan from F1 racing like all the famous personalities in their respective fields will be incorporated as toys. The toys projected in any of Bollywood and Hollywood industry will also be major attraction for the customers. We will try to innovate and help suppliers to also make customized product if possible and thereby increasing the revenues. The key to business will be continuous innovation in all product ranges. Price: The price of the product sell in the shop will depend on the sourcing and also the total cost of procurement. In the initial years of opening of shop we will not be having competitive pricing but the prices would be at par with other competitors in the market. After years of experience in the business and due to strong hold with the suppliers, we will be having a bargaining power with the suppliers and will try to sell product at lower prices compared to competitor. We will be having Lowest Prices in the Town in one of product everyday to attract as many customers as possible. Moreover the product would be selling at par with our costing, so we won’t be able to generate from the product sold at lowest prices. The whole list of prices with the name of the product is attached in the annexure 8. Place: The majority of the product would be procured from China and also some of the product would be procured from India itself. The main source from India would be Chennai, Noida and Mumbai. The sourcing from China would be in terms of imports via sea route. The cost of procuring of the product is already been included in the financials. The time for procurement of goods would be taking near around 28 days from the day of placing of order from China and the procurement from Chennai or Noida will take maximum four days and from Mumbai it would take one day lead time. The toys would be stock in the store itself; there won’t be any special storage place or another location of the toys. The toys would be readily available to the customers on demand if stock is available. Promotion: The less effort would be required in terms of promotion as the store will be located in Thane East But still promotion will be required to create a buzz in the city which would be carried out be two means. 1) Print Ads in local newspaper. As maximum people in Maharashtra are habituated of reading of local newspaper, so the ads would be given in local newspaper on repetitive basis. The ads will also be given in other non local newspaper but frequency of ads would differ in both the cases. 2) Advertisement would be carried out in radio stations. Continuous announcement would be given in all leading radio stations like Radio Mirchi and Big FM. ) Distributions of pamphlets would also be one of the marketing strategies for carrying out promotion. As in the initial period it is not possible to be present in all the malls, so distribution of pamphlets in all the malls will be carried out on weekly basis. 4) All this promotion will in turn lead to Word of mouth marketing 5) In later stages o f business the viral marketing will also be carried out. OPERATION PLAN Location The location selected for opening an outlet is THANE (Maharashtra). Thane is the largest city in the state of Maharashtra and the The city is witnessing a major construction boom and population increase. A rising centre of education, information technology and scientific industries, Thane remains the cultural and commercial heart of Maharashtra, and much of western India. The main reason behind selection of this city is the city is developing stage amp; we witness tremendous opportunity in the coming years. The real estate boom will be going to come in the city so we don’t won’t to miss the opportunity to be there within couple of years. The reason for selection of the city is its proximity to MUMBAI. The proximity to the city will help in reducing the transportation cost and increasing overall efficiency and savings in operations. Type of Building The location of the shop would be in the shop in Thane (East). Amount of Space The amount of space needed would be around 2000 sq feet of area which would be more or less compared to any retail chains. The amount of space needed would be targeted in malls in the basement near around the entry of Reliance and Big Bazaar shops. We targeted the basement due to its cost effectiveness. The shop would be lease for 5 year period for the initial purpose and then if needed would be bought out. The general lease rental of the area in Thane (East) is around Rs. 30000 per month. Other Details The business hours of the shop would last from 10am to 10pm as major. We see the timings to be getting extended at weekends. Moreover the timing would be subjected to the change. Lead Time The main source of supplier would be from the Shantou in China and from Shanghai in China. The other supplier from India would be the Hanung toys in Noida, Mattel Inc. in Chennai and also the Funskool India Ltd in Chennai. The cost of transport of freight from China to India ranges from 428 USD to 600 USD depending on the date of ordering. The other cost of transportation from Mumbai to Thane would be around 2000 INR. The cost of procurement of consignment from Mumbai to Thane would be is 3000INR and from Delhi/Noida it is around 8000 INR. So the lead time if calculated to import from toys from China would be around one month and from procurement from India only it would take around one week from farthest place i. e. Chennai in India for procurement of toys. Sales Estimation Due to prime location of the shop in the malls we expect the sales to be reaching high in the weekends and also in the festivals. This figure comes from the fact that out of 15000 people visiting Thane East daily on an average, around 82% are parents and remaining are youth. So out of 82% of total population we average that around 35% of parents would be with child who comes for the shopping. As mentioned that we shall be a unique adventure in the shop as a playing area specially allotted for the kids to play with the toys which ever they want out of majority of samples placed in playing area. The other advantage is that the child would be taken care of specially trained employees and all this package would come for free. We expect the shopping time taken by any parents would be around 1 hour. So we provide facility for parents to leave their child to play in the shop and if they want they can buy the toy. We rely on the fact provided by the doctors that one hour is enough for a child up to 6 years to get addicted with the toy. Hence as a child gets addicted to play with the toy, they would force parents for purchase of same toy. We only expect 75 customers to get converted out of minimum 1500 people visiting per hour (which is around just 5% of total customers visited in the mall. ) The other occasion for increase in the sales would be the festivals and also the Valentine’s Day for the youth. The shop target customer is up to 14 years but due to presence of Splush toys and also teddies and fur toys which stand attraction for the youth, so we expect the sales to increase in valentine day. Personnel In order to manage the day to day operations we along with three partners have decided to keep the following personnel for smooth operations. In order to reduce our fixed expenses we have restricted ourselves to six employees in the initial three months of our operations. However with time and requirement we shall keep increasing the strength. Number of employees: * Store Facilitators-02 Store Manager-01 * Housekeeper-01 Financial Details Projected start up cost Projected start up cost| | Security Deposits Monthly RentSalary to StaffPurchase of ToysFurniture and StationaryReserved| 100000 30000 20000250000 50000 50000| Total Start Up Cost| 500000| Sources of Fund 50% fund from Partners50 % fund from State Bank of India| 250000250000| Total Fund Raised| 500000| Projected Balance Sheet Liabilities| Rs. | Assets| Rs. | Capital| 500000| Furniture ComputerStockCash DepositeCurrent assets| 50000 20000250000 50000100000 30000| Total | 500000| Total| 500000|