Saturday, August 22, 2020

Case Study - Badenach v Calvert Free-Samples

Question: Dissecting a Case Study - Badenach v Calvert. Answer: The instance of Badenach Another v Calvert has inspired a great deal of reaction from the legitimate calling because of its ongoing choice on account of expert carelessness regarding lawful specialists and outsiders. The legitimate realities of the case are that: Mr. Jeffrey Doddridge, deceased benefactor in this, held the administrations of Mr. Robert Badenach, Solicitor and Appellant in this, to set up a will to discard all his estate.[1] The guidelines given to the Appellant by the deceased benefactor were that the recipient of his domain be the Respondent in this, Mr. Roger Wayne Calvert, the child of the deceaseds true partner.[2] The departed benefactor didn't benefit some other data concerning the presence of other family members[3] and the Appellant continued with the directions of the deceased benefactor and arranged the will leaving all the domain of the deceased benefactor to the Respondent. A girl of the departed benefactor from a past marriage tested the will and brought an activity for family arrangement procedures which she succeeded and was granted arrangement just as expenses of the suit the consequence of which added up to consumption of the domain which was not immense. Upon the fruitful suit of the little girl, the Respondent in this sued Badenach and his firm for proficient carelessness. His contention on the side of the case was that the Badenach neglected to appropriately counsel the departed benefactor the impacts of the will as attracted to other relatives as for family arrangements and the accessible methods for turning away such an outcome. The Respondents explicit contention was that Badenach neglected to offer lawful exhortation to the deceased benefactor that changing over the departed benefactors resources and those of the Respondent to make joint occupancy would guarantee that the Respondents share in the deceased benefactors domain was shielded as the advantages would have lapsed naturally to the Respondent. Preceding the arrangement of the challenged will, Badenachs firm had on past event arranged two wills one of which had contained a testamentary blessing to revert to the daughter.[4] Therefore, Badenach had the methods for finding out the presence of the girl. Being investigated, the Court excused the case by the Respondent holding that the specialists obligation of care stretching out to inquisitive about relatives who could bring an activity for family arrangement however was not fulfilled, on an equalization of probabilities, that the departed benefactor would have taken measures to vanquish the premiums of the family and guarantee the Respondents premiums as the sole recipient, were protected.[5] Disappointed with this choice, the Respondent spoke to the Supreme Court of Tasmania which advance succeeded. In finding for the Respondent, the Court held that the Appellants obligation to the deceased benefactor went past inquisitive about the presence of relatives and the chance of establishing family arrangement procedures yet additionally remembered offering guidance for the choices accessible to forestall the achievement of such procedures. It was concluded that this obligation to the departed benefactor was concurrent with the obligation to the beneficiary.[6] The Appellants engaged the High Court. The Court permitted this Appeal and direction was looked for on account of Hill v Van Erp[7] which authority perceived examples under which an obligation of care was owed by lawful professionals to proposed beneficiaries.[8] The Solicitor made a will be seen by a mate of a recipient in the said will.[9] This voided the will and made the case for carelessness effective. In any case, this was recognized from the moment case in that the will as drafted complied with the lawful necessities. The legitimate issue under the steady gaze of the High Court was whether the obligation of care and expert aptitude by the Solicitor owed to the customer deceased benefactor by the Appellant by prudence of the customer/departed benefactors retainer reached out to the obligation to ask about the presence of any relatives and their lawful review if they are excluded from arrangement of the will just as obligation to educate the customer deceased benefactor with respect to the vital strides to take to shield the interests of the Respondent recipient by deflecting the chance of raising cases for support through family arrangement. Confronted with this lawful issue, another issue emerged which was pondered finally. The issue under the watchful eye of court was whether the Solicitor owed an obligation of care to the Respondent to do the directions of the deceased benefactor in a way that guaranteed the Respondent was the sole recipient to the avoidance of the little girl. [10]This issue wa s the primary given for assurance from the lower court upto to the High Court. The High Court held that an obligation of care was not owed to the Respondent as such an obligation would have emerged from the retainer which was testamentary. The contention progressed by the Respondent that the Appellant should have prompted the departed benefactor to change over the properties into joint tenure recognizes the testamentary blessing as in joint occupancy the property would have decayed to the Respondent by activity of law outside of succession.[11] In showing up at its choice, the Court was of the assessment that regardless of whether the Appellant owed an obligation of care to the Respondent, causation couldn't have been proved.[12] It was noted by the High Court that it isn't sufficient to charge the presence of an obligation of care. The Respondent neglected to make an immediate connection between the misfortune endured, that is, abhorring the bequest completely and the disappointment by the Appellant to counsel the departed benefactor on the impacts of presence of family. The however for standard is the edge used to survey causation in acts dependent on tort and having bombed in this guideline, the Respondent neglected to demonstrate his case on a parity of probabilities. In deciding this case, their Honors were guided by the rule in Hill v Van Erp[13] where the Court set up that there are conditions in which Solicitor owes an obligation of care to the proposed recipient that a break of such obligation will add up to a fruitful case for proficient carelessness. This obligation is to be gotten from the retainer. In any case, the authority neglected to explain the obligation owed to planned recipients by specialists. This inadequacy has prompted clashing choices being made by courts. The lower courts just like the case in the moment case, extended the obligation to practice care and expert ability from inquisitive about the presence of relatives and the chance of establishing family arrangement procedures to exhorting the deceased benefactor on the means to take to deflect that eventuality.[14] The instance of Badenach v Calvert may have restored a portion of the issues that past legal choices have needed to manage or made. For example, the disarray on whether a specialist must exhort on cutting off a joint occupancy just like the case in Smeaton v Pattison.[15] The extent of the obligation is to be gotten from the retainer subsequently, the Solicitor is required to act inside the setting of the retainer (regardless of whether oral, suggested or express). Certain demonstrations by specialists will anyway be held to be careless significantly after the conveyance of the Judgment in the moment case. Such activities are specialists direct that is wild to the point that it nullifies the will or a testamentary blessing. A genuine model is the situation of the life partner of a recipient confirming the execution of a will. The subsequent explanation is the inability to find a way to discover and advise the agent regarding the presence, substance of the will, and its area. An infri ngement of this obligation is an infringement of the departed benefactors testamentary wishes to discard his domain in the way in which he proposed. The other explanation is disappointment by the specialist to create the will inside the time period settled upon compliant with the retainer or without a retainer, to a sensible time to be dictated by the conditions of every individual case.[16] This case has set the edge for deciding the reach out of a specialists obligation of care and expert expertise to an outsider recipient. This is on the grounds that the High Court was of the view that the obligation owed to a customer can't be abrogated by the rights and obligations owed to a customer which are conflicting with those of the departed benefactor customer. That on account of a departed benefactor and recipient the rights and obligations under the will are esteemed to be incidental in any case, the obligation owed to the outsider recipient extinguishes.[17] The realities of the moment case and in the end the judgment of the High Court soothe legitimate specialists of any commitments to evoke methods for turning away any potential cases for family arrangement while drafting a will for mien of the customers estate.[18] Most of the specialists as an issue of good practice offer guidance on the issue of other relatives and their cures should they be excluded from arrangement by the will. The Court was of the view that a specialist ought to educate the customer best methods regarding managing his benefits preceding his passing to guarantee that after death, the execution will continue in the way the deceased benefactor anticipated.[19] This anyway doesn't quench the chance of testing a will regardless of what gauges a specialist embraces to convey the customers wishes. Book index Cases Badenach v Calvert [2016] HCA 18 Slope v Van Erp [1997] HCA 9; 188 CLR 159; 71 ALJR 487; 142 ALR Smeaton Orsv Pattison[2003] QCA 341 Different Sources Badenach V Calvert: Explaining The Scope Of A SolicitorS Duty To An Intended Beneficiary In A Will | Browne Linkenbagh Legal Services (2017) Browne Linkenbagh Legal Services the-extent of-a-specialists obligation to-a proposed recipient in-a-will/ Badenach V Calvery [2016] HCA 18 - Barry.Nilsson. Legal counselors (2017) of knowledge/insurance_alerts/professional_indemnity_financial_lines/badenach_v_calvery_2016_HCA_18/ Recipients Considerations When Drafting A Will - Rostron Carlyle (2017

Friday, August 21, 2020

Compare Jesus in islam and Christianity Essay Example | Topics and Well Written Essays - 750 words

Look at Jesus in islam and Christianity - Essay Example Christ was conceived without a dad, yet this isn't an impression of Christs power yet it is an indication of Allahs quietness and his supremacy (Caner and Caner 214). The exchange among Mary and a holy messenger is recorded in a section of Koran 19:20-21 which runs practically corresponding to the gospel accounts (Beverly 61). In any case, the distinction between the scriptural variant and the ceaseless form is that Koran expresses that Jesus was brought into the world under a palm tree (Beverly 61). Also, when Mary carried the recently destined to her family members they stated, how might we converse with one who is in the support? To this Jews answered: Lo! I am the captive of Allah. He hath given me the Scripture and hath delegated me a prophet (Surah 19:30). Theres an accord among all organizations of Islam that Jesus was a prophet of God, yet he was not God. There is clear sign both in Quran and hadith (Mohammeds expressions) that Jesus was not the child of God either. The clarification is that God tends to Jesus as his child in the Bible the manner in which he tends to all of humankind as his family. Islam is exceptionally clear in that Jesus was not the interminable child of God (Caner and Caner 214). Muslims additionally accept that Jesus relieved the wiped out and biting the dust just with the assistance of God. He had marvels of relieving individuals, yet this force was not his own, God gave him those wonders. Koran is exceptionally clear in expressing that Jesus isn't the generated child of God. Also, any individual who accepts that God had a child is a delinquent. The popular Muslim savant and Persian researcher Al-Tabari features the unending length of time of person Jesus Christ however his issue with the heavenly nature of Chr ist is that on the off chance that Jesus was Gods child, at that point God would be exposed to change and denied of his basic solidarity (Leirvik 113). Islam stands firm and clear about the heavenly nature of Jesus that Christ was a hireling, and a prophet of God and this conviction isn't dependent upon understanding (Ataman 98). This conviction

Tuesday, May 26, 2020

Auburn University Admission Essay Topics

Auburn University Admission Essay TopicsPreparing an Auburn University Admission Essay can be time consuming and difficult, if not dangerous. Having the right background knowledge about your target university and reading the school's official website is a must. When considering the topics of your essay, remember that this is a formal way of communicating with the admissions department, a person in charge of admissions and the goal is to win an interview. Your message must be extremely clear, concise and informative so that it will stand out among all the other essays submitted for college.First, you should consider the topic of your Auburn University Admission Essay. It should address the personal question of what you would want to do with your life, your goals, and whether or not you have what it takes to be a student at the school. Some choices include: a job as a teacher, becoming a doctor, a farmer, a salesman, a teacher's aide, and so on. Your goal here is to state your talents and your core values, as well as your achievements. To be clear and direct, you must state all of these questions in your essay.Second, you need to take the college entrance exam to be admitted to your college. If you do not feel that you are ready for college yet, go back to the earlier point in your outline and re-write it so that it will address this important part of your program. Next, visit your high school or college and talk to them about your experience, if you have it, and ask them to recommend an outside advisor to you.Remember that you can write as much or as little as you would like. However, if you do not know exactly how to begin with, do not worry. Take a break for one week and do not worry about the topic or the content, just write about what you feel and think. During this time, you may also have a good attitude and enjoy the activity that you are doing. During this time, do not stress yourself, as you are just exercising yourself and making yourself happy.The thir d and last tip when writing your Auburn University Admission Essay is to apply your style of writing to the college entrance exam. To do this, start writing as if you were writing an essay for college admission. Now, when you write for the college entrance exam, do not use any specific language, or wordings, but simply use as many words and sentences as you would like, in your essay. At the end of your essay, you must state whether or not you completed the college entrance exam.Finally, write your letter of recommendation. They are forms of communication between you and the college, they are necessary and you will want to make sure that they are done properly. Do not forget to include any personal information you have. Don't include the same information twice. Once the letter is completed, you need to send it to the college.As you can see, Auburn University is not an easy school to apply to, but with some dedication and preparation, you can come out of this experience with a great d egree. Keep in mind that this is an opportunity to find out what you truly want to do with your life, and through the process, you will learn valuable lessons and become better at life.

Saturday, May 16, 2020

The emergence of the business plan - Free Essay Example

Sample details Pages: 10 Words: 3135 Downloads: 2 Date added: 2017/06/26 Category Business Essay Type Narrative essay Did you like this example? In todays environment, the business plan is the entrepreneurs most important document when setting up a new business. No company can express its business goals or secure financing without the help of a well-conceived and well-presented business plan. Without a business plan, it is almost impossible for someone to take your business idea seriously or even consider investing in it. Don’t waste time! Our writers will create an original "The emergence of the business plan" essay for you Create order Because this thesis is about setting up a business plan for the start-up of a new kind of social network, we will first start with an overview about the concept business plan throughout the literature. In this literature study the term business plan is defined as well as the main functions of the business plan followed by an overview of the typical structure of the business plan. Furthermore, a problem discussion on the topic business plan in the literature is displayed. In the next part the main focus will lay on the composition of the financial plan. Subsequently, in the section Location Based Social Network a brief explanation is given about LBSN to give the reader an idea about what the business idea is all about. An entrepreneur willing to start his own enterprise stands before a lot of obstacles. Building up a company does not happen over one night. Theoretical framework Introduction There was a time that entrepreneurs only had to write a letter to propose the ir business idea and send it to some investors to secure funding. Nowadays, investors are far more demanding and expect a far higher level of expertise and preparation from the entrepreneurs they choose to fund. Eugene Kleiner, a legendary venture capitalist states that when examining a proposal, investors want to see much more than just a good idea and a bright young man or woman: they want to see a business plan showing that the concept has been thoroughly assessed and that the entrepreneur has carefully thought through the issues for taking the necessary steps of taking the idea and transform it into a successful company. The term business plan is a word that found its origin during the Second World War period. Back then it was mostly used to define the long term strategies of big firms. The Business Plan was a highly confidential document and was only exposed to a very limited audience. During the 80s the term business plan became more popular and it was then that the first a rticles appeared discussing the issues behind the business plan. From that decade on, the term business plan was mainly used to indicate the start-up of new and emerging companies. (Karlsson, 2005). This may be the reason that when the term business plan is mentioned the first image that crosses peoples minds is the start-up business, which has not to be especially so because The Ernst and Young Business Guide (1987) points out that even established firms can have formal written business plans to determine or evaluate the accomplishment of business goals. . Definition of a Business Plan The literature on the topic business plans is awash with information. Essentially these definitions have all the same meanings. Abrams Barrow (2005) define the business plan as a roadmap to the companys targeted destination. Ideally, it enables the entrepreneur to get from the basic business concepts to a healthy, successful business. Barringer (2009) describe it as a written document that carefully explains every internal and external aspects of a new venture (Barringer, 2009, p. 1) The format of the business plan The format of the business plan depends mainly on the purpose for which the BP is elaborated. (Barringer,2008) For instance, a BP for a start-up business wanting to raise funds may somewhat differ from that of a business in expansion or from one designed to establish the feasibility of a venture. Mason and Stark (2004) argue that whether the entrepreneur is pursuing capital from a bank, a business angel or even a venture capi talist, the format of the business plan should be adapted accordingly. So we can conclude that depending on what purpose the business plan serves, i.e. to raise capital or for internal purposes, the emphasis on the topics will be different. The format will also depend on the firms level of development. For example, a start-up firm will not be able to dwell much about the companys history or past successes. Uses of the BP Abrams and Barrow (2005) argue that they see creating a business plan more as an opportunity rather than a chore. While developing the business plan, it gives the entrepreneur the chance to: 1) Learn about the industry and the market. When setting up the business plan the entrepreneur will have go through the process of writing a marketing plan. No matter how good the business idea is, without effective marketing the venture will not succeed. The marketing planning process is an opportunity for the entrepreneur to get hold of some facts of the market. After doing the market research the entrepreneur should have some valuable insights in who are the most important competitors, who will be the main customer. The main topics that will have to be investigated are facts about the industry, for instance what is the market size, restrictions entering the market. Who will be your main customer, who is the main competition, and so onÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ 2) Getting control over the business. While developing the business plan, one will increase the understanding of the many forces that have an impact on your businesss success, which in turn will give a stronger sense of control. For example in the Financial Plan: By realistically projecting Sales Forecast and a Profit and Loss Forecast you will get a better understanding in what drives the main streams of revenue. 3) Obtain a competitive edge. Evaluating the competition and your businesss strengths and weaknesses provides you with a better sense of how to position your b usiness in relation to competitors. Developing a business plan enables the entrepreneur to: Make the crucial business decisions that focus the entrepreneurs activities and maximize his resources. Understand the financial aspects of the business, including cash flow and break-even requirements. Gather crucial industry and marketing information. Anticipate and avoid obstacles the business is likely to encounter. Set specific goals and measurements to assess progress over time. Expand in new and increasingly profitable directions. Be more persuasive to funding sources. To write or not to write a business plan. The relationship between Pre-start-up Formal Business Plans and Post-start-up Performance The opinions on the topic whether a business plan is a useful document or whether it is more a waste of time are not unanimous throughout the literature. Despite a lot of researches that have been conducted within this field, the efficiency of the BP still has n ot been proved empirically. The word efficiency in this particular circumstance means that it has not been proved that the Business Plan will help a new venture in succeeding. According to Abrams and Barrow (2005) a good business plan for a sound business concept helps achieving the business goals. Furthermore, it saves you time and money by focusing your business activities, giving you more control over your finances, marketing, and daily operations, and helps you raise the capital you need. Or as Eugene Kleiner states: Even if you have all the money you need, you still need a business plan. A plan shows how youll run a business. Without a plan, you dont know where youre going, and you cant measure your progress. It typically takes several weeks to complete a good plan. Most of that time is spent in research and re-thinking ideas and assumptions. But the real value of creating a business plan is not in having the finished product in hand; rather, the value lies in the process of researching and thinking about your business in a systematic way. The act of planning helps you to think through things thoroughly, study and research if you are not sure of the facts, and look at your ideas critically. It takes time now, but avoids costly, perhaps disastrous, mistakes later. The adversary: Although it has not yet been proved that the Business Plan effectively helps a new venture in succeeding, it has been proved that there is no relationship between the BP and performance. A study conducted by Lange et al. examined whether writing a business plan before launching a new venture affects the subsequent performance of the venture. The dataset comprised 116 new ventures started by Babson College alums who graduated between 1985 and 2003. The analysis revealed that there was no difference between the performance of new businesses launched with or without written business plans. The authors suggest that unless a would-be entrepreneur needs to raise substantial s tart-up capital from institutional investors or business angels, there is no compelling reason to write a detailed business plan before opening a new business. Instead, Lange et al. (2007) suggest that entrepreneurs should make financial projections, especially cash flow. It means that they should look at expected sales revenue and operating costs including material, labour and capital assets and open their business. That advice implies that they should do business planning but not write formal plans before starting their businesses. Then, if their business grows and needs external funding, they will be able to write a business plan that is more persuasive. . Many business people or entrepreneurs defend that the time that is needed to produce a formal written BP, would be better spent on pushing the new venture forward instead of writing a plan that no one will read. (Allen 2006) This might be true if we take into consideration that the venture capitalist or the firms that provide finance to businesses receive piles and piles of business plans and have no time to read them all. Furthermore, it is a fact that if you want your BP to be noticed by investors, the chance is greater if you get a personal introduction, instead of approaching them on your own (Barringer, 2008). This is definitely the case for all businesses in China. If you want to look for capital, or even if you just want to do business, you will need Guanxi. Guanxi literally means relationships, and is the basis for conducting succesfull business in China. If you have the right connections and build a network they can indirectly link you to new acquaintances and informati on resources, thus helping you to develop other right Guanxi you need. Since Guanxi and relationship could function as an information network, companies with wide Guanxi and relationship networks often have much higher performance than companies with little or no relationship with the Chinese. We can state that is not about having a good or a bad business plan per sà © to secure finance but more about knowing the right people. This is why startup businesses have the disadvantage over established firms because they may not have such contacts. Three functions of the Business Plan According to the Ernst Youngs Business Plan Guide (1987) a business plan serves three functions: Determine the Viability of the Future Business First, and foremost, it is a plan which can be used to develop ideas about how the business should be conducted. It is a chance to refine strategies and make mistakes on paper rather than in the real world by examining the company from all perspective s, such as marketing, finance, and operations. Determine/Evaluate the Accomplishment of the Business Goals Second, a business plan is a retrospective tool, against which a businessperson can assess a companys actual performance over time. For example, the financial part of a business plan can be used as the basis for an operating budget, and can be monitored carefully to see how closely the business is sticking to that budget. In this regard, the plan can and should be used as the basis for a new plan. After some time has elapsed, and thereafter on a periodic basis, the business plan should be examined to see where the company strayed, whether that straying was helpful or harmful, and how the business should operate in the future. Raising finance The third reason for writing a business plan is the one most people think of first, that is, to raise money. Most lenders or investors will not put money into a business without seeing a business plan. Since this business pla n is written in order to raise finance, its ultimate test will be how much interest it can generate from reviewers in as little time as possible. Therefore it should convey the companys basic goals and methods in a clear, readable, and light digestible form. Putting the Plan to Work Evaluating the business plan Sources of Finance Business Angels Attracting Human Capital Zetterberg, Christer assigns In How to write a successful business plan a practical guide (2004) another internal function to the business plan: it will also be a tool for attracting human capital. It is not uncommon that a potential employee wants to see the companys business plan before making a decision whether joining or not. The external stakeholders category includes investors, potential business buyers or partners, potential customers, government and potential workers. Because each of the mentioned stakeholders has its own interest in the business, BP should be produced taking into accoun t all of these stakeholders. Business Plan Structure The Executive Summary The most important section of the business plan, the executive summary, is the first part of the plan that is going to be read by a potential investor or lender. Time is money for businessman and businesswomen and although you can have spent three months at preparing the plan, the cold, hard fact is that an investor or lender can dismiss it in less than five minutes. Therefore it is crucial that this part is very clear and gives a compelling distillation of the business so that the reader will be persuaded to wade through the rest of the plan. A typical venture capitalist can expect to read more than 1000 business plans in a year. Andrew Anker, partner of August Capital one of Americas most respected venture capital firms- explains: The first thing I read are the first two paragraph of the executive summary. If I cant be dragged in, there is no way the next five million people can be dragged in. It doesnt take me more than one minute to decide whether a business is interesting or not. The Summary reflects the results of the entire planning and should be crafted after having considerated all the other aspects of the business, so it has to be written last. The topics that have to be included in the executive summary are everything that would be covered in a five-minute interview. The following fundamentals of the proposed business have to be explained and formulated in a positive and confident tone: What will your product be? Who will be your customers? Who are the owners? What do you think the future holds for your business and your industry? If applying for a loan or pursuing investors capital, there has to be clearly stated how much money is needed, how it is going to be used, and how the money will make the business more profitable, thereby ensuring repayment. For example, an investor interested to fund a start-up company will be interested in seeing the potentialit y of the business in terms of return of the capital and how the risk will be minimized. Business Description To be completed Strategic planning is part of the ongoing management job. The plan itself is only a snapshot; planning should be going on all the time. George James Former Sr. CFO Levi Strauss Co. Location Based Social Networks 3.0 The Financial plan: Nobody plans to fail but many fail to plan This expression is to be interpreted in many ways but according to the authors of Corporate Finance it means that the failure is often attributable to a lack of systematic management. The problem with a lot of entrepreneurs is that they are most often does rather than writers. They prefer the action doing business than behind their desk drafting up business and financial plans. Financial reports display the financial status of the company. When will the company be profitable, how much cash will the company be generating, what is the value of the company? The fina ncial plan gives answers to these questions. This information is also valuable the relations outside the company like banks, investors, customers, the government. Parts of the financial plan: Profit and loss account The profit and loss account is one of the four basic statements that a company has to make. It keeps track of the financial result for a certain period in time. It answers the basic questions about the financial performances of a company such as: How much money did the company make? The profit and loss account comprises, as the name suggests two categorys in the profit and loss account, namely revenues and expenses. There are a lot of terms for revenue: sales, turnover, return, income,ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ Costs arise from using the production resources. Costs can be booked referring to the costs they rely with, like the costs of goods sold. (COGS) Or they can be booked in the period the costs are incurred. And finally costs can be booked so that a at tribution to the period is displayed. According to Cornwall et al. (2005) A written business plan is virtually a universal requirement for entrepreneurs who are seeking formal venture capital. However, very few entrepreneurs ever have formal venture capital in hand at the moment they start their ventures Bygrave and Hunt (2004), for example, estimated that fewer than one in 10 000 new ventures are funded at the outset with formal venture capital. Thus it is puzzling why so many entrepreneurs bother to write business plans if the principal purpose of a plan is to raise venture capital, because in almost every case they come up empty handed. Part of the explanation may be that there are other financing sources, such as angels, bankers and corporate strategic partners that require written business plans from entrepreneurs. It seems unlikely that the pursuit of financing is the sole justification for writing a formal business plan. Timmons et al. (19 85) in successive editions of New Venture Creation: A Guide to Entrepreneurship and in a Harvard Business Review article (Timmons, 1980) argued that a business plan is much more than a fundraising device. It has intrinsic value in articulating what the opportunity conditions are, why the opportunity exists, the entry and growth strategy to seize it, and why you and your team have what it takes to execute the plan. In a study of 65 participants who completed a business plan, Wyckham and Wedley (1990) found that 46 used it as an internal planning document, 32 used it as a marketing plan, 27 to get financing and 12 to attract a partner. Many used it for more than one purpose.

Wednesday, May 6, 2020

Descartes Meditations On First Philosophy - 1712 Words

Descartes’ Meditations on First Philosophy (1641) contains six Meditations. In the first two of these Descartes addresses doubt and certainty. By the end of the second Meditation Descartes establishes the possibility of certainty by concluding that he is a â€Å"thinking thing† and that this is beyond doubt. Having established the possibility of certainty, Descartes attempts to prove the existence of God. The argument he presents in the Third Meditation for the existence of God has been nicknamed the ‘Trademark’ argument. This argument deals with types of ideas, of which there are three, a principle called the Causal Adequacy principle, and a sliding scale of reality. The argument concludes that the idea of a God that is a perfect being is an innate idea that is real and was caused by God and therefore God is real. This argument will be explained with the greater detail in the next paragraph. In the Fifth Meditation Descartes again addresses the existence of God with an argument for His existence. This argument is a variation of St. Anselm’s ontological argument. This argument is also framed around his theory of ideas, as well as his principle of ‘clear and distinct perception’ and is explained and discussed in paragraph three. The paragraphs following these will discuss how convincing these two arguments from Descartes are and will deal with various objections. Many of these objections are strong enough that it will be clear why Descartes’ case has failed to convince everyone.Show MoreRelatedDescartes Meditations On First Philosophy807 Words   |  4 PagesConner Ruhl Professor Copley Philosophy 1000C 4 May 2015 Descartes, Meditations on First Philosophy Rene Descartes was the first great philosopher of the modern era, He had a new approach which was focused on scientific and mathematical truths. Descartes came to reject the scholastic tradition, one of which he was educated, due to his pursuit of mathematical and scientific truth. Much of Descartes work was done to secure advancement of human knowledge through the use of the natural sciencesRead MoreDescartes Meditations On First Philosophy1079 Words   |  5 PagesThroughout Descartes’ Meditations on First Philosophy, Descartes argues for the ideas and philosophical beliefs behind skepticism. In his writings, he describes the fallibility and importance of the body of man and through extension the senses with which we observe the world. This paper will first show that within Descartes’ writings the body is an extension of the mind. Secondly, this paper will prove that the senses are a false form of understanding which leads to the deception of the mind. FinallyR ead MoreDescartes Meditations On First Philosophy1318 Words   |  6 PagesPhilosophical Questions November 2, 2017 Cogito Ergo Sum Descartes Meditations on First Philosophy and his questioning of our existence in reality is a question which philosophers have tackled throughout time. Cogito ergo sum or I think therefore I am, a phrase brought about by Descartes is the backbone of his whole philosophy of our existence in reality. As long as we are thinking things, we exist. When we look at this approach to our existence we must first deny that any sensory data that we receive is believableRead MoreDescartes Meditations Of First Philosophy857 Words   |  4 PagesChristopher Joao Philosophy- 201 Mr. Jurkiewicz 4 March 2016 Descartes’ - Meditation #2 Rene Descartes was a French philosopher born in 1596. He is considered by many the father of modern philosophy and continues to have tremendous influence in the philosophical world to this day. The book, Meditations of First Philosophy, consist of six meditations and describes one meditation per day for six days. In meditation two, he claims that we have better knowledge of our own minds than of the physicalRead MoreDescartes Meditations On First Philosophy1264 Words   |  6 PagesDescartes’ Meditations on First Philosophy is a first-person record of Descartes’ descent into the bowels of disbelief, in order to eradicate all flawed belief from his life. In his first meditation, Descartes explains his argument for universal doubt, which leads him to doubt every truth he has ever established. Even the veracity of his sense perception is doubtful, as he renders those perceptions useless by arguing that in dreams, sense perceptions create the wildest of fantasies that can not beRead MoreDescartes Meditations On First Philosophy1536 Words   |  7 Pagesdid I formerly think I was? A man, of course. But what is a man?† (Descartes 340). This question that Descartes addresses in Meditations on First Philosophy is important because it outlines his core philosophical view in his work. His philosophy primarily focuses on dualism, which is the concept that there is another world that exists with ideal forms and is separate from the world of perception. The part of dualism that Descartes focuses his work on is the distinction between the soul and the bodyRead MoreDescartes Meditations On First Philosophy1080 Words   |  5 PagesRene Descartes’ Meditations on First Philosophy, God is not mentioned until the third meditation. Descartes point of view on God simply claims his existence through the act of being. According to his claim, God must, essentially, exist as well as being an outcome of His own creation. Descartes was greatly interested in the idea that God’s being promoted an external force that controlled all beings that supported his presence. Descartes declarations, presented in his Meditations on First PhilosophyRead MoreDescartes Meditation On First Philosophy943 Words   |  4 Pages In the third meditation of Descartes Meditation on First Philosophy, Descartes argues that his idea of God must have come from God himself. One can also wonder whether that very own argument could also apply when Descartes has an idea of the Evil Demon. In this paper, I will argue that Descartes would not think that his having an idea of the Evil Demon proves that the Evil Demon exists. In his paper, Descartes was trying to find the source of his idea of God in order to prove that GodRead MoreDescartes Meditations On First Philosophy1961 Words   |  8 PagesIn Descartes’ Meditations on First Philosophy, I will be considering if Descartes resolution to the â€Å"dreaming argument† seems acceptable to trust. The First Meditation is where the â€Å"dreaming argument† is first mentioned and then gets resolved later in the Sixth Meditation and the Objections and Replies. I will be touching on the idea that our experiences could be dreaming experiences based on personal experiences and thoughts I have had regarding this topic. Then I will go on to explain how it isRead MoreDescartes Meditations On First Philosophy922 Words   |  4 PagesIn Rene Descartes’ excerpt, Meditations on First Philosophy, he proclaims, â€Å"It is beyond question that I shall reach the truth if I think hard enough about the things that I perfectly understand, ke eping them separate from all the other matters in which my thoughts are more confused and obscure† ( §104). When Descartes made this statement in his fourth meditation, what was he conjecturing by the term â€Å"perfect?† According to the standard interpretation, perfect encompasses all required or desirable

Tuesday, May 5, 2020

Business Plan Impact of Nascent Entrepreneurs

Question: Discuss about the Business Plan for Impact of Nascent Entrepreneurs. Answer: Introduction: This report discusses about a new business idea of launching a new application namely Grab-a-Nurse. In the report, the detailed analysis is made on the industry as well as target market of the company. Along with that, the report also analyzes and evaluates the business plan in respect to the financial and technical feasibility (Bryman and Bell, 2015). However, at the end of the report, an overall conclusion is provided based on the findings of the study. Business Details: The following report presents business analysis, financial plan for a new venture start up by a company, Tech Nursing as grab a nurse e- service. As we know, the present market structure is focusing on procurement of business through online marketing and e- commerce by using the advanced technology. Tech Nursing also planned to start its service to provide nurses to the citizens and patients through online commercials and apps. This idea has been adapted to provide the people with best nursing services just a single click away without any hassles and worry. The organization is a partnership business with two Singapore resident partners in Singapore focusing its marketability for all classes of family and individuals. Description of Service: Grab a nurse is a service application, which will provide nurses to the patients for all types of nursing services like change dressing, in- house care for post operated patients, regular in house care for senior citizens or patients who are bid ridden and require nursing care. The services will be provided through web application, which will be available on several software users viz. Android, Microsoft, IOS under relative type of services required by the clients on different time slots and service charges. Currently, Tech Nursing is the only launcher of this type of e-service in Singapore and therefore the start up will be available on the three software used by the maximum people. Tech Nursing also focuses on sustainability of its organization in the market strategy and therefore best services at best prices will be maintained so that it can be affordable to all the citizens of Singapore. In order to start the venture, the owners had complied with all the necessary legal complianc es i.e. registration with the Corporation Act, procurement of trade license, or any other necessary requirements. The proposed venture will be available on smart phones having Android, Microsoft windows and IOS software. There would be very few simple steps for users to grab the service, users will have to download the application from the respective software app stores then they will have to register themselves either by using their contact number or email id and few other necessary details. Once the users are registered, the application will automatically detect the location of the user so that they can save time to explain the address. After this step, user is required to click on the option of service type and time he wants to avail and the expected charge will be displayed automatically before confirmation of booking along with the expected arrival time to be taken by the service provider. Once the user confirms the booking, the system operators process service immediately (Zhou and Liu, 2015). Mission statement: Providing the nursing services within minimum possible time Vision: Provide quality nursing service to the needy people Objectives: Grab the attention of 90% people in Singapore within the first 12 months after launching the business Earn minimum 10% profit to run the business successfully Make the application easily available in the market Industry and Market Analysis: Since, Tech Nursing falls into the healthcare industry number of competitors are at higher percentage even though the other organizations are not into e-commerce operation. Another challenging risk for Tech Nursing in the market is reliable and satisfactory service rendering to the clients. As we all know, that nothing is more important and valuable for people than their health it will be very difficult to get the venture started, as most of the citizens will be comfortable in taking service from their regular service providers (Bryman and Bell, 2015). Industry Analysis: At present, Singapore is considered the fourth best in the industry of healthcare infrastructure while medical practices ranks best among the world. Therefore, Tech Nursing is also required to maintain its standard and quality of services at par. For the better and detailed analysis, we have used SLEPT analysis and Porters Five Forces. Slept analysis is a analytical structure used to measure the external influence on an enterprise considering five factors that affect the economy at macro level (Chang, 2016). SLEPT analysis is used to ascertain threats and opportunities used to conduct SWOT analysis, which provides further measurement of influence through internal factors that, affect the entity. To present the industry structure and growth SLEPT analysis is briefed as follows: Factors Analysis Social Factors Social factors include analysis on the society in relation to education level, healthcare, population growth rate, class of population as per age, income level etc (Plan, 2015). On conducting survey for these factors, it has been concluded that Singapore citizens are well educated and addictive to the usage of advanced technology as well as quite particular about their health factors. Moreover, it has also been framed out that out of around 3.81 million residents of Singapore 20% have employment pass holders accordingly, availing the tech Nursing Service will not be difficult for them. Legal Factors Legal factors include laws and legal formalities regarding anti- trust laws, consumer protection laws, employment laws, corporate regulatory laws (Gregg and Strnad, 2016). The entrepreneurs of Tech Nursing have thoroughly studied the requirements of all the factors and focusing on duly compliance of the provisions and requirements of the laws and regulations. Economic Factors Economic factors represents the information and general ideas about the Goss Domestic Profit, interest rates, market growth and revenue rate, exchange rates for foreign currencies, fiscal and monetary policies, credit availability including Reserve Bank regulatory norms (Pavlou and Stewart, 2015). On going through these factors and taking into considerations, it has been observed by the owners of the Tech Nursing that it will be a big challenge to procure the market with giving considerations regarding quality of the service. Political Factors Another major factor affecting any industry is the political factor presenting government policies in relation to corruption level, trade control, competition regulation etc. (Gregg and Strnad, 2016). Initially it will be a challenge for Tech Nursing to be at par following these stringent policies but subsequently, things will fall into place as the owners are very much confident about the quality of their service. Technological Factors As the venture relates to e- commerce, technology is the most vital factor for the owners (Schlaegel et al. 2015). The entire service process depends on the technology and therefore there should be a proper research and development program has to be conducted. The application will require to be updated from time to time about new software updates. Further, in order to enter into the healthcare industry as a complete new and advanced service provider it is very important to make a thorough industry research. Hence, apart from SLEPT analysis, management of Tech Nursing has also conducted Porters Five Forces as under. Five Forces Findings Industry Rivalry As the new app Grab-a-Nurse will be made in order to provide nursing services, the business is under the nursing industry of Singapore. However, as the service will be available just through a mobile application, this will be unique and in Singapore, this kind of services is not widely available (DeMartino and Barbato 2015). On the other side, there are many good organizations available in Singapore those provide better services at lower cost. Therefore, from these points of views, it can be said the industry rivalry will be moderate. Threat of new entrants The threat of new entrants in this similar type of business is low because it is still not guaranteed that this will be successful (Schlaegel et al. 2015). So, for first three to five years the threat of new entrants will be low. However, if the business gets success then more organizations may come to similar business and then this threat may increase. Threat of substitute product The threat of substitute product will be high because there are many hospitals and nursing homes available in Singapore those provide better services at an affordable price range. At the same time, they also provide services on time. Bargaining power of suppliers Bargaining power of the suppliers will be low because there are many nurses available in Singapore those are ready to provide this type of services to the people. Bargaining power of the buyers The bargaining power of the customer will be moderate because this service is related to the health and the prices of these types of services are generally fixed. However, as there are some poor people, the companies sometimes need to lower the price. Therefore, the bargaining power of the customers will be moderate. Therefore, from this five forces analysis, it can be said that the industry situation is good for the new business. However, the new venture needs to maintain the time and price factors in order to get a good market share. At the same time, the new venture needs to maintain the service quality also. Target Market: In order to know the future prospect of the business, it is very important to conduct a market research (Hair et al. 2015). With the help of the market research, the entrepreneurs of Tech Nursing will know the actual demand of the people in Singapore. For this particular business of Grab-a-Nurse app, the entrepreneurs have used the 4Ps tool of marketing. The entrepreneurs found out the followings: 4Ps Findings Product In the market of Singapore, most of the people are technology friendly and so the demand for any new application is high. However, the product or app must be easily accessible and fast to serve in any urgent situation. Price The people in Singapore are ready to pay a standard amount of money in order to get a quality service in their home (Peroni et al. 2016). However, in order to provide the facility to the middle and lower social classes of people, the price level must be within affordable standard. Place As the service is an application oriented, this will be better to make the application available in Google Play store, App Store and Microsoft Store Promotion As most of the people in Singapore use the social networking sites. Therefore, it will be feasible enough if the promotion of Grab-a-Nurse is one through social networking sites. At the same time, the company needs to give television advertisement in order make older people aware about the product Therefore, from the above analysis, it can be said that there is a good scope for Grab-a-Nurse. As the service or application is related to the human health, there is more chance to catch the market effectively. However, the price must be affordable to all social class and proper channel must be chosen to aware the people of all age group. Customers and Value Proposition: For the Tech Nursing, owners have planned to target the entire society and all the age groups of Singapore, this is because the healthcare industry cannot segregate between the class and age group of people. As the venture is completely with the application of advanced technology, young generation of Singapore is expected to be the maximum revenue-generating source. The selling of service proposition for the organization is very clear i.e. only the nursing service will be available and no other similar or relative service is provided by the organization. From the above discussion it was very clear that the organization is going to face lot of challenges to sustain in the healthcare industry but the same is not impossible because it is concentrating on only the nursing part of the medical industry which eventually will save the time and cost of the local society (Schlaegel et al. 2015). Moreover, there will also be an option of suggestions and instructions online on general Medicare for those who would want an instant help which are at present difficult to get from the medical institutions. Marketing Strategy: Marketing Strategy for an organization is the most vital strategy as its growth, sustainability and market share depends on how well an organization is marketing its products and services. In the service of grab a nurse management of the entity planned to launch its application through placing in house services and promoting through various social sites. This strategy is planned because as saying goes service starts at home which means if the known people around are satisfied with the service then it will become a great source of promotion (Schlaegel et al. 2015). Subsequently, young group of citizens are the target as they are the most tech savvy in order to save their time and prompt services as well as quality concerned. Gradually, Tech Nursing is proposed to target the entire age group and social class citizens in Singapore including non- residents. Tech Nursing is also planning in taking steps to get the franchisee from medical institutions so that clients get prompt services with good results. Apparently, threats that Tech Nursing is going to face are about the pricing of its competitors. What if the existing hospitals and nursing homes pay more salary to the nurses? The availability of the nurses will reduce and the company will face difficulties in providing services on time. What if new company with quicker application comes in to the market? The popularity of Grab-a-Nurse will reduce and the customer base and revenue will reduce. What if the company fails to recover the initial investment? The budgeted revenue of the company will decrease to the extent to which it will be suitable for the internal funds. The scalability of a new business can be identified with the help of three factors entrepreneur base, owners capabilities and comprehensiveness of the business plan (Chua and Bedford 2015). In case of this venture, the entrepreneur base is strong because the partners of the business have enough financial backup and they have good knowledge of software and application. On the other side, the owners of the business have good motivational and managerial capacities to run a business. Management team and Company Structure: The organization is a start up with two partners who are resident of Singapore having a good Information Technology background as well as management consistent from B Tech background and Software engineers. The company seeks to absorb highly qualified nurses with good work experiences as well as fresher to be trained under the seniors (Madani and Hashemi, 2015). The nurses are required to send their resumes through the application portal or through the website. The management of the organization is also comprised of having knowledge and skills about SAPs and other technological skills. The organization will have stabilized premises in the located in the central Singapore, which will be the central head of operating the entire business with all the necessary and required technological equipments. Financial feasibility analysis: As per the planning of the entrepreneurs of Grab-a-Nursing, 70% of the initial capital will be arranged by the entrepreneurs and 30% will be gathered by taking long-term bank loan at 10% interest per annum. The company has also decided that the initial investment will be same as the initial total cost of the company. However, the budgeted cost, profit and revenue of the company for initial three years are shown below: Particulars Amount (in $) (1st year) Amount (in $) (2nd year) Amount (in $) (3rd year) Revenue 10000 13900 14700 Cost of goods sold 6300 3100 3900 Gross profit 3700 10800 10800 Expenses for software maintenance 300 300 300 Salaries to the nurses 1000 1000 1400 Fees to the software developer 270 270 270 Distribution and advertisement expenses 410 680 710 Operating income 1720 8550 8120 Interest payment (10% on 1890) 189 189 189 Profit before tax 1531 8361 7931 Tax payment (30%) 459.3 2508.3 2379.3 Net profit 1071.7 5852.7 5551.7 Workings: Calculation of loan amount = 6300 * 30% = $1890 From the above table, it can be said that in the second year the net profit of the company is expected to be highest. This is because in the first year, the initial cost of preparing the application is high, due to which the cost of goods sold of the company will be higher, which is not applicable for second and third years. However, as the company has a plan to increase the number of nurses in the third year for providing more services, due to which the cost for paying the salaries will be higher, due to which the profit will decrease. Financial Projections: As discussed above, partners will invest 70% of the capital while 30% of the capital will be invested by taking long-term bank loan at an interest rate of 10%. The management is planning to issue ordinary shares to raise capital investment. Assets and Liabilities representing financial position of the organization will be comprised of non- current and current nature. From the above financial analysis, expected profit for next three years has been determined $1,531 $8,361 and $7,931 in the first, second and third year respectively, whereas profit after tax amounted $1,071.7 $5,852.7 and $ 5,551.7 for first, second and third year respectively. Further, expected revenue has been measured as $10,000, $13,900 and $14,700 for the first year, second year and third year respectively. This shows a decent growth in the revenue generation of the enterprise. Risk and Strategic Options: In order to maintain the financial results as discussed above, Tech Nursing will have to face the challenges and risks arising from various other factors. This includes, risk of non-availability of qualified and experienced nurses, increased payments by other healthcare institutions to the experienced nurses, providing better work infrastructure etc. As Tech Nursing is a new venture, it would be difficult to overpower all the factors in first year of its operations, however once the venture sustains in subsequent years it will be easier to eliminate the above-mentioned risks. For maintain the mission and objectives of the Tech Nursing (Madani and Hashemi, 2015), Management has set out the critical success factors like, quality of the service, timeliness of the service, as well as affordable costs to the clients. Conclusion: In this business plan, it has been identified that Grab-a-Nurse has a strong market opportunity that can be used to earn more revenue. On the other side, business is also technically feasible and the demand for the service or application in Singapore will be high because most of the people in Singapore are tech savvy. However, the company needs to maintain the price and quality of the service up to the standard. At the same time, the company also needs to be prepared for any adverse situation. Bibliography: Brinckmann, J. and Kim, S.M., 2015. Why We Plan: The Impact of Nascent Entrepreneurs' Cognitive Characteristics and Human Capital on Business Planning.Strategic Entrepreneurship Journal,9(2), pp.153-166. Brinckmann, J., Read, S., Mayer-Haug, K., Dew, N. and Grichnik, D., 2015, January. Of those who plan: A meta-analysis of the relationship between human capital and business planning. InAcademy of Management Proceedings(Vol. 2015, No. 1, p. 16198). Academy of Management. Bryman, A. and Bell, E., 2015.Business research methods. Oxford University Press, USA. Chang, M., 2016. 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