Minimum Legal Drinking Age ( Tietjen ) - 1700 Words

Minimum Legal Drinking Age On July 17 of 1984 President Ronald Reagan signed to make the National Minimum Drinking Age Act a law. This law required all states to have a minimum drinking age of 21, if a state did not comply with this law they could face up to a 10% cut in funding for their federal highways (Tietjen). Since this act became a law there has been two distinct sides arguing whether they agree with the minimum drinking age, or whether they disagree. One side believes having a minimum drinking age makes alcohol seem like a â€Å"forbidden fruit† of sorts and because people always want what they can’t have, a minimum drinking age makes underage drinking an even bigger problem. The other side of this argument is basically that if a†¦show more content†¦Those for lowering the minimum legal drinking age have many reasons why they believe it should be lowered. One issue they see with setting the minimum legal drinking age to 21 is how extremely disobeyed this law has become, as Jeffe ry A. Tucker explains in his Newsweek article, â€Å"The Drinking Age Should be Lowered, Fast,† below: The drinking-age law would surely be a winner in a competition for the least obeyed law. The notion that this law is accomplishing anything to actually stop or even curb teen drinking is preposterous. Instead, we see all the unintended effects of Prohibition: over-indulgence, anti-social behavior, disrespect for the law, secrecy and sneaking and a massive diversion of human energy. As Tucker explains, the minimum legal drinking act does nothing to stop teens from drinking underage. It’s so easy these days for an underage person to get a fake ID to buy alcohol with or to ask another friend over 21 to buy them drinks. The large amount of people drinking age then causes another problem that people believe could be solved if the legal drinking age was lower, people having less respect for the law. People who drink underage know they are breaking a law, but they aren’t very worried about that, this may then lead into them breaking other laws as well as not having much respect for the law in

Knowledge Management And Its Roots From Cognitive Science,...

Knowledge Management In today’s fast paced economy, organizations are judged by their organizational knowledge and the environment they possess to maintain the knowledge management system. Knowledge management framework for any organization must have the capability of performing all the functions like capturing, documenting and sharing. Knowledge management must be a balancing act between capturing the knowledge and documenting the knowledge thereby enhancing the intellectual asset of the company. According to Dalkir (2011), knowledge management must combine an organization’s people, technology, processes, practices and organizational structure so that it will result in innovation and reduce costs by encouraging reuse of knowledge. Knowledge Management is a coordinated process, which involves making use of both explicit and tacit knowledge. Explicit Knowledge includes the processes and documented practices followed within the organization. Tacit Knowledge includes the individual expertise a nd know-hows. Both these knowledge types are necessary for an effective growth of any organization and successful implementation of Knowledge Management Practice. Knowledge management has its roots from cognitive science, artificial intelligence and organization level learning. For knowledge management to be successful at every stage within the organization, Wiig (1993) mentions the importance of two knowledge related aspects. These are the knowledge assets that are to be implemented,Show MoreRelatedApplication For A Software Engineer For My Career1771 Words   |  8 Pagesfits my interests in math and science very well. I would also be good at the problem solving that I will have to do. I also have a lot of background knowledge in programming anyway which would be a good start. When programming began the programmers didn t even interact with the computers directly. Instead the would take them by hand to a mechanic which would batch test many at a time. The first widely used language was fortran made by IBM for math and science computing. The other major languageRead MoreContemporary Applications of Schools in Psychology8487 Words   |  34 Pagespsychology are Structuralism, Functionalism, Gestalt psychology, Behaviorism, Psychoanalysis and Humanistic Psychology. Each school in psychology followed a certain viewpoint or perspective that defined it and its research and treatment methods. From each distinctive viewpoint there arose unique theories and concepts that can be seen applied widely in various fields in today’s world. These perspectives can be seen in contemporary fields within applied psychology like clinical psychology, socialRead MoreCreativity and Innovation4159 Words   |  17 Pagesability to generate innovative ideas and manifest them from thought into reality. The process involves original thinking and then producing. 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Processes studied like for exampleRead MoreStrategy Safari by Mintzberg71628 Words   |  287 PagesSTRATEGY SAFARI A GUIDED TOURTHROUGH THE WILDS OF STRATEGIC MANAGEMENT HENRY MINTZBERG BRUCE AHLSTRAND JOSEPH LAMPEL T H E FREE PRESS NEW YORK aJaiz. u.frmiu/i  «...* „.;i†¢Ã¢â‚¬ ¢/ . †¢ . . †¢. »Ã¢â‚¬ ¢.. . .. †¢..†¢Ã¢â‚¬ ¢Ã¢â‚¬ ¢.-.†¢Ã¢â‚¬ ¢a/itiktSii^i THE FREE PRESS A Division of Simon Schuster Inc. 1230 Avenue of the Americas New York, NY 10020 Copyright  © 1998 by Henry Mintzberg, Ltd., Bruce Ahlstrand, and Joseph Lampel All rights reserved, including the right of reproduction in whole or in part in any form. THERead MorePsychology and Ob9277 Words   |  38 Pagesbe able to describe age-related drinking behavior. c) both a and b. d) none of the above. ANS: c DIFF: 3 PG: 1-4 TYPE: C OB: 1 8. A conception of apparent relationships among observed events defines a) science. c) prediction. b) theory. d) the school of psychology. ANS: b DIFF: 1 PG: 1-5 TYPE: R OB: 1 9. 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Mythology And Christianity Mythology - 948 Words

Mythology and Christianity Mythology is known for its artistic values of cultures well before the world we live in today. The stories that derive from these great folk tales set a scene in lives of people who worshipped their God’s and the items that they praised them for. Depending on the geographic location and the time of the myth, or at least what it could be traced to, the people would praise and worship different God’s for different reasons. Just like in our modern system of religion in this day and age, different groups have formed different religions and praise a different God for different reasons. With all the stories that come from mythology, how the folktale of Jesus Christ become truth in did today’s religious practices when there are comparisons throughout history that show him to be a myth like the legendary Zeus. Creation of life as we know it is debatable by those that believe God created life and those that argue for science or evolution. Referring to the creation under the principles of the Bible/ God, then one must understand the creations of the almighty such as Greek God/Goddess or the God of Christianity. The fables written describing the lives of the rulers in Greek mythology are traced back hundreds of years to different writers of different time periods. Whereas the bible, it can be said that,† Many people contributed to the writing of the Bible. In fact, the Bible is a diverse collection of writings from about 40 main contributors—30 in the OldShow MoreRelatedEssay on Christianity vs. Greek Mythology1309 Words   |  6 Pagesthat have been compared often and I have chosen to discuss the similarities and differences of Christianity and ancient Greek mythology. Christianity is a monotheistic religion, or belief in only one God, and spiritual practices are based on the Old Testament and the teachings of Jesus as written in the New Testament of the Bible, with the role of Jesus as savior and the Son of God. Greek mythology is a polytheistic religion, which is the belief in and worship of multiple deities, called godsRead MoreOn What Occasions Does Norse Mythology Play an Important Role in Beowulf?964 Words   |  4 PagesOn what occasions does Norse Mythology play an important role in Beowulf? Throughout the story of Beowulf, Norse Mythology has been an important factor of the story’s continuation. While they both have interactions with Christianity, they are both very important. Norse Mythology has existed as early as the 10th century. Just like how Beowulf, and many other epics have been told, Norse mythology was preserved through the tradition of oral preservation. Norse Mythology It is said that there areRead MoreMythology and How It Affects Society Essay1218 Words   |  5 PagesMythology has been used in a multitude of ways since the beginnings of civilization as it provided mankind explanation for natural occurrences: harvest time and the changing of the seasons, natural disasters: earthquakes and storms, and life events: birth and death, but was also used to simply provide entertainment. Another huge role that mythology played a part in was the explanation of how the earth and all its people were created and why. This formed the structure for many societies as they couldRead MoreWhat If Paul Had Never Converted From Christianity?854 Words   |  4 PagesWhat If Paul Had Never Converted to Christianity? If Paul had never converted to Christianity things would be very different. Paul played a pivotal role in spreading Christianity. Without Paul s influence the Roman Empire might still believe in Roman Mythology. Paul heavily influenced Christianity through traveling and teaching. Without Paul s existence things would be very different. Paul s original name was Saul. Saul started out hating and persecuting Christians. Saul had a big conversionRead MoreGreek Mythology Throughout The Ages916 Words   |  4 PagesGreek Mythology throughout the Ages Greek mythology is the culmination of myths and teaching that began in Ancient Greek. These myths are diverse in the stories that they tell ranging from their gods, their heroes and the nature of the world. They also reveal much about their religious beliefs and practices during Ancient Greece. Today modern scholars study these myths in an attempt to better understand the religious and political practices of Ancient Greece and its civilization of way back whenRead MoreCeltic Mythology and Folklore1235 Words   |  5 PagesCeltic mythology. Celtic mythology was an integral part of ancient history throughout the British Isles especially Ireland. 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In other words, allRead MoreZeus Of Greek And Indra Of Vedic1601 Words   |  7 Pagesand Indra of Vedic Mythology can be traced to many different ethnic groups because many values such rich oral and written traditions. There are many ways of telling stories, and through myths, many powerful thoughts and emotions, as well as wisdom, and culture are all folded into one outlet. The comparisons of mythology across different cultures is an attempt to identify shared themes and motifs in the myths themselves. In comparative mythology, the Hindu and Greek mythologies share fascinating similaritiesRead MoreThe Devil At The Dawn Of Christianity904 Words   |  4 PagesThe devil at the dawn of Christianity bore little resemblance to the ruler of hell, the antichrist and agent of evil that he is known as in present day. Satan makes few overt or implied appearances in the Old Testament. 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Current State U.S Economy Free Essays

The current state of the economy is one that is concerning for almost all Americans. Though we are in the recovery phase businesses are still hurting, people are out of work, we are barely getting out of a depression etc. People are pointing fingers at what is the cause and who is to blame. We will write a custom essay sample on Current State U.S Economy or any similar topic only for you Order Now What was once a strong healthy economy has now drastically changed. There are many economic indicators that are used to evaluate and provide an image of what is currently happening and what an outlook may be on the economy. Several of the important factors are the business cycle, consumer price index, stock prices, consumer confidence index, gross domestic product and unemployment rates. The overall picture of the economy is relevant to its current business cycle. The business cycle is the recurring and fluctuating levels of economic activity that an economy experiences over a long period of time. The five stages of the cycle are growth, peak, recession, trough and recovery. As stated before we are in the recovery process but at a slow rate. One indicator is the Gross Domestic Product. The Gross Domestic Product (GDP) is the total market value of all goods and services produced, including total consumer, investment, and government spending, plus the value of exports, minus the value of imports. It moves with the economy and describes what’s happening right now. The GDP was at a huge decline a few years ago which resulted in our recession. Currently it has increased by 2. 7 percent which is indicating an improving economy. Another indicator is the Consumer Price Index. The Consumer Price Index (CPI) is a measure of the change in the purchasing power of currency and the rate of inflation. It shows the current price of a â€Å"basket† of goods and services in terms of the prices during the same period during the previous year. The purpose of the CPI is to show the effect of inflation on purchasing power. The â€Å"basket† of goods and services includes energy (gas prices) and food as well as other goods and services. The decline leads to deflation instead of inflation where consumers hold off on purchases in hopes of lower prices. Consumers are feeling pretty confident and spending has increased over time but not by much leading to the consumer confidence Index. The Consumer Confidence Index is a measure of how well the average American thinks the economy is doing and will do in the short-term. Stock prices are leading indicators of economic activity. If the market goes up and sustains upward activity this is seen as a good economic sign. The measure of stock prices comes from the Standard and Poor’s 500 index not the Down Jones Industrial Average. In September 2012 the SP 500 index ended more than 25 percent above August. If current trends continue the economy will be vastly improved. The Unemployment rate is also used to understand an economy. The unemployment rate shows the economy’s production, private consumption, workers’ earnings, and consumer sentiment. A lower unemployment rate translates into more employed individuals with paychecks, which leads to higher consumer spending, economic growth and potential inflationary pressures. High levels of unemployment are connected with lower incomes, lower spending, and economic stagnation. Our economy has seen the rates change up and down but the growing trend is our unemployment rate is lowering. All these indicators are used to describe the current economy. Though we are not at our highest point, we are slowly moving on the upward side. A pace that most don’t like but relative to the recession years ago it’s surly a vast improvement. November 30, 2012 U. S. Department of Commerce Bureau of Economic Analysis: U. S. Economic Accounts Retrieved on November 30, 2012 from: http://www. bea. gov/ Cunningham, Steven P. H. D The Consumer Sees Reason to Spend American Institute for Economic Research Retrieved on November 30, 2012 from: https://www. aier. org/article/7864-consumer-sees-reasons-spend How to cite Current State U.S Economy, Essay examples

Measuring Welfare and Assessing Sustainability

Question: Discuss about the Measuring Welfare and Assessing Sustainability. Answer: Introduction: Gross Domestic Product is termed as the financial value of all the finished commodities as well as services that are produced within the border of the country in a precise time. Gross Domestic Product is mainly calculated on the yearly basis however; it can be calculated on the quarterly basis as well. GDP is mainly used as an economic indicator of the monetary health of a country as well as a measure of a standard of living of the country. The mode of measuring GDP is mainly consistent from country to country. The productivity of a variety of countries with a degree of correctness is measured with the help of GDP (Bleys, 2012). GDP from any period can be calculated as a percentage comparative to previous years. It is also possible to track GDP for long distance of time that is used to measure economic growth and decline in the economy. GDP is also considered as one of the most important economic indicator of National Accounts that represents total market value of all completed commo dities as well as services that are manufactured in the country. GDP is mainly calculated by using the following formula: GDP = C + I + G + NX, where C denotes all private consumption, G is the total of government spending, I denotes the overall investment of the country and NX denotes total net exports. Net exports are mainly equivalent to the sum of exports less imports. Exports refer to the purchase of commodities and services that are produced in the overseas. On the other hand, imports refers domestic acquire of this foreign products as well as services. Net Exports are mainly a heave on total GDP of a country as a country regularly imports more as compared to its regular exports. The government spending accounts for the overall expenditure that is made by the central government. Government purchases of goods and services are a recompense of government workers and purchases from businesses and overseas. However, in the GDP calculation the payments related to transfer and interest are not included. Investment on the other hand, refers to the sum of investments in the purchases of private housing as well as investment in non-residential structures and durable equipments. Consumption is the total sum of personal consumption expenditures that includes both durable and non-durable goods and services (Yamarone, 2012). Three approaches are used to measure the GDP. The most important approach is termed as the production approach. The reversal of the expenditure approach is the production approach. The total value of the economic output are calculated with the help of this approach. This approach involves the compiling of GDP to add up the production by division of activity. Under this approach, GDP is calculated by summing the value of sales of commodities and regulating for procure of intermediate commodities to produce the goods sold. However, one of the biggest disadvantages of this method is that this approach is not able make a difference between intermediate and final commodities. The calculation scheme for this method is as follows: Total Output intermediary consumption for generating commodities and services = GDP at market prices + tax on commodities and import subsidies on commodities = Total GDP (Fioramonti, 2013). The total GDP is calculated as the sum of gross value additional to the institutional elements that are resident in the financial system as well as taxes on commodities and imports. The production approach looks backwards from the vantage of a state of finished monetary activity. Another approach that is used to measure GDP is the income approach that is calculated by summing up the factor proceeds to the factors of production in the society. The countries such as Australia and the United States mainly use the income approach through trend extrapolation to approximate GDP. The calculation scheme under this method is as follows: Employment income in the form of salaries and social advantages + mixed income acknowledged from self-employment + Overall profit received by firms from monetary activities + taxes on production and import Subsidies on manufacture and import = Total GDP (Fleurbaey Blanchet, 2013). The calculation of GDP by the income approach method is based on sum of income of those institutional elements that is directly involved in the manufacture of commodities and services in a given time. The mostly used approach in order to measure GDP is the expenditure approach. The expenditure approach is mainly used to measure the overall sum of all the commodities that is used to develop a finished manufactured goods for sale. The calculation scheme under this approach is as follows: Consumption expenditure of households + Services provided by non-profit organization serving households + Combined and personal services provided by General Government + Gross formation of capital + changes in inventories = Total expenditure at market prices + Exports of goods and services - Imports of goods and services = Total GDP The calculation of GDP by the expenditure method is based on expenditures that are incurred in a given period by institutional elements that are resident in the financial system. It is not necessary that high rate of real GDP growth is good for a country. A high rate of real GDP views rising crime costs as a positive development. The destruction of forests are also viewed as a good news for GDP. The developed countries like New Zealand and Singapore has lower GDP as compared to countries like China. The GDP only measures the sales and income from economic purchases rather than looking at any moral implication (Aguiar Bils, 2015). References Aguiar, M., Bils, M. (2015). Has consumption inequality mirrored income inequality?.The American Economic Review,105(9), 2725-2756. Fioramonti, L. (2013).Gross domestic problem: The politics behind the world's most powerful number. Zed Books. Yamarone, R. (2012). Gross Domestic Product.The Trader's Guide to Key Economic Indicators, Third Edition, 11-46. Fleurbaey, M., Blanchet, D. (2013).Beyond GDP: Measuring welfare and assessing sustainability. Oxford University Press. Bleys, B. (2012). Beyond GDP: Classifying alternative measures for progress.Social Indicators Research,109(3), 355-376.

The factors that have influenced the development of the UK leisure and recreation Essay Example

The factors that have influenced the development of the UK leisure and recreation Essay In the leisure and recreation industry there are six many categories within the United Kingdom. They are: * Arts and entertainment * Sports and physical recreation activities * Heritage We will write a custom essay sample on The factors that have influenced the development of the UK leisure and recreation specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on The factors that have influenced the development of the UK leisure and recreation specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on The factors that have influenced the development of the UK leisure and recreation specifically for you FOR ONLY $16.38 $13.9/page Hire Writer * Catering * Countryside recreation * Home-based leisure There have been a number of factors that have influenced the development of the industry, and these have risen from the industrial revolution. The factors that have influenced the development of the leisure and recreation industry are: Increase in leisure time Over recent years, the amount of leisure time available to the majority of people in the United Kingdom has increased, so this has also increased the number of facilities, products and services, which satisfy the customers demands. There has been introduction of paid holidays entitlement since 1938, because it has become a legal requirement for employers to give their employees paid holidays. It is now known fact that 94% of workers in the United Kingdom now get four weeks or more paid holidays per year. The length of the working week in the united kingdom had been reduced slightly, so this has gave the workers in the united kingdom, more leisure time to participate in leisure and recreation activities. Theses days the typical working week in the united kingdom ranges from 37-40 hours per week, which is not a lot compared to the 1850s because a typical working week 70 hours, and in the 1950s it gradually fell to 50 working hours per week. It is not just the workers who have free time available to participate in leisure activities, because groups like the retired and the unemployed people need a choice of activities to participate in to, because they have a lot of leisure time available to them. Many workers now have greater choice regarding the pattern of their working week as well as less hours, for example, some employers operate flexitime systems or a four day working week. In these cases, the weekly hours remain the same, but the pattern of employers leisure time has changed, as they move away from the typical Monday-Friday, 9-5 working pattern. The way people use their leisure and recreation time has changed enormously during this century. Most people now: * Have different needs of expectations-for example, they may be more aware of the importance of health and fitness and of the need to balance work and leisure. * Want more access to the countryside * Are mobile-more people own cars, and the public transport system allows them to travel much more widely. * Have more personal disposable income-money, which does not have to be spent on necessities like housing, heating, food and clothing. * Have more time available for leisure activities because of social and economic developments, which have change working hours and patterns. Reasons for increased leisure: * Since the end of the Second World War in 1945 the working week has become much shorter. * Theres more job sharing and flexitime, part-time and short-term contacts, home- working and self-employment. * Sunday is no longer an official day of rest so all kinds of entertainment are available. * New groups of consumers with disposable income, e.g. single people and couples in full-time work. Average hours usually worked per week by full-time employees: by gender, EU comparison. HOURS Male Female UK 45.7 40.7 Portugal 42.1 39.6 Greece 41.7 39.3 Spain 41.2 39.6 Germany 40.4 39.3 France 40.3 38.7 Sweden 40.2 40.0 Italy 39.7 36.3 Denmark 39.3 37.7 Growth of personal disposable income The amount of money that people have spend on leisure activities depends on the amount of money that is left after they have paid for there items of immediate necessity such as the food, drink, bills ad rent or mortgage. The remaining money is known to us as disposable income. Some classes of people may be denied the chance of doing leisure activities such as the unemployed, pensioners and single parents because they may only receive very low incomes, so there money is spent on necessities only. In order for these people who are low incomes to take part in leisure activities this means the local authorities need to heavily subsidised so all activities are afford to the low income people. Single professionals or couple with jobs and no children tends to have quite a high level. Expenditure of working age couple households with children and without children: by type of household, 1998-99 United Kingdom PERCENTAGES Without children With children Housing 17 18 Food 14 18 Leisure goods and services 17 17 Motoring and fares 19 16 Household goods and services 14 14 Clothing and footwear 6 6 Alcohol 4 3 Fuel, light and power 3 3 Tobacco 1 2 Other goods and services 4 4 All household expenditure (=100%)(à ¯Ã‚ ¿Ã‚ ½ per week) 441 465 Improved mobility Most people in the UK have access to efficient transport networks, which have made leisure and recreation facilities, products and services much more accessible. Improved transport technology has revolutionised passengers travel: aircraft, ships and trains are safe with a high number of passengers to be carried. The biggest single transport factor, which as promoted increase, demands for leisure, as been the number of cars there are in the United Kingdom at present. There was a fivefold increase in the number of private cars on the UKs roads between 1951 and 1970 and around a tenfold increase between 1951 and the mid-1990. It is now estimated that there are over 20 million privately owned cars in the UK. Increase car ownership therefore has been a major leisure and recreation attraction so they have become more popular. Also with more people owning cars in the UK and better network links this has helped people to get access to the countryside for leisure activities. The transport options now available allow people to travel quite long distances to take part in leisure activities. They can: * Travel to Manchester or London for nights clubbing. * Organise coach trips to the seaside for elderly or the young. * Take a train to London to visit major exhibitions like the Millennium Dome and Motor Show. * Drive to remote countryside for a day of walking and climbing. The countryside has long been as a place where you can get away from it all. As working lives have centred themselves in towns and cities, people increasingly see the countryside as a resource for leisure and recreation. Developments in rail and road transport, especially the big increase in car ownership, have made getting to rural areas easier. Traditional pursuits like walking, wildlife, bird watching and riding, the countryside is also the place to go for: * Climbing hills, mountains, cliffs and rocks * Orienteering, trekking, mountain biking and survival games in the wilder areas like fells and moors * Water sports and boating on lakes, rivers and reservoirs * Farm holidays-now a major income source for many farmers Governments have passed laws aimed at making rural areas accessible to the public and protecting them from damaging developments. For example: * Ten National Parks and 33 Areas of Outstanding Beauty have been established as a result of the National Park and countryside act (1949) * The countryside act (1968) gave local authorities power to establish local parks and protect local areas of rural interest. Demographic changes Demography is the study of the way populations change, using statistics. It includes factors such as births, deaths, income, the incidence of disease and the proportion of people of different ages. Demographic statistics can help policy makers decide things such as how many schools or old peoples homes will be needed in the future. Heres an example: The number of people over pensionable age is projected to increase from 10.7 million in 1996 to 11.8 million in 2011. Allowing the womens retirement age change to 65, the population of pensionable age will rise to 12.0 million by 2021. The UK trends that are widely recognised are: * An increase in the number and percentage of older people in the UK * An increase in the disposal income of younger people * An increase in the number and percentage of working parents, which also stimulates an increase in services such as childminding and domestic work. Here are some general statistics from www.ageconcern.org.uk The United Kingdom, in 2000, there were over 10.7 million older people (10,789,000): 9,021,000 in England 924,000 in Scotland 586,000 in Wales 259,000 in Northern Ireland. Ageing Population In 2000, the population of the United Kingdom based on mid-year estimates was 59,756,000. Of this figure, 18.1% were over pensionable age: 6,915,000 were women aged 60 and over (of whom 5,442,000 were aged 65 and over) 3,875,000 were men aged 65 and over 9,316,000 were people aged 65 and over 4,399,000 were people aged 75 and over 1,162,000 were people aged 85 and over. In 1998 a man of 60 could expect to live for another 19 years and a woman of the same age for 22.6 years. In 1996, in England and Wales, 5,523 people (4,943 women and 580 men) were aged 100 and over. In 2036 it is estimated that there will be 39,000 people in this age group, and, by 2066, 95,000. (GB) Looking at the ethnic minority population in Great Britain, in 1997/99, 7% of the population was aged 65 and over and belonging to a minority ethnic group. Within specific groups: 15% of Black-Caribbean people were aged over 65 3% of Black-African people were aged over 65 10% of Indian people were aged over 65 7% of Pakistani people were aged over 65 6% of Bangladeshi people were aged over 65 9% of Chinese people were aged over 65. An Ageing Population in the Future The number of people over pensionable age, taking account of the change in the womens retirement age, is projected to increase from 10.7 million in 1998 to 11.9 million in 2011, and will rise to 12.2 million by 2021. Employment In 2000, there were 5.71 million people aged between 50 and the State Pension Age in employment. The employment rate for men between the ages of 50 and 64 was 68.7%, and for women between the ages of 50 and 59 was 63.5%. This compares to an employment rate for all people of working age of 74.6%. In Spring 2000, 7.6% of men aged 65 and over and 8.2% of women aged 60 and over were still in employment. Income The basic pension from April 2001 to April 2002 is à ¯Ã‚ ¿Ã‚ ½72.50 for a single pensioner, and à ¯Ã‚ ¿Ã‚ ½115.90 for a couple (claiming on the husbands contributions) per week. In 1999/2000 single pensioners received, on average, à ¯Ã‚ ¿Ã‚ ½149 net income per week. Pensioner couples received à ¯Ã‚ ¿Ã‚ ½281 per week on average during the same period. Older pensioner households have lower incomes. In 1999/2000 pensioner couples where the man was aged over 75 received à ¯Ã‚ ¿Ã‚ ½245 net income per week on average, compared with à ¯Ã‚ ¿Ã‚ ½299 net income per week for those aged under 75. In 1999/2000, 70% of pensioner households depended on state benefits for at least 50% of their income. (GB) In August 2000, 1,638,000 people aged 60 or over (single people or couples) were receiving Income Support (Minimum Income Guarantee) because of their low income. The Department for Work and Pensions estimates that, in 1999/2000, between 22% and 36% of pensioners who were entitled to Income Support, between 7% and 15% who were entitled to Housing Benefit, and between 30% and 36% entitled to Council Tax Benefit, did not claim. Spending Where the head of the household is aged 65 and over, a higher proportion of money is spent on housing, fuel and food (40% of expenditure) than in other households (36%). The most severe deprivation is experienced by pensioners living alone who are mainly dependent on state pensions: nearly 48% of their expenditure goes on housing, fuel and food. In 1999/2000, one-adult retired households mainly dependent on benefits spent à ¯Ã‚ ¿Ã‚ ½23.20 per week on food, compared with à ¯Ã‚ ¿Ã‚ ½32.40 for single non-retired households. In 1999/2000, of pensioners mainly dependent on state pensions and living alone: 81% had central heating, compared to 89% of all households 12% had a car, compared to 77% of all households 93% had a telephone, compared to 96% of all households 2% had a mobile phone, compared to 64% of all households. 67% had a washing machine, compared to 95% of all households 14% had a CD player, compared to 86% of all households. (NB, all households relate to households without children.) Living Alone (GB) In 2000, in the 65-74 age group, 19% of men and 37% of women lived alone, and 33% of men and 60% of women aged 75 and over lived alone. (GB) In 2000, the likelihood of living alone increased with age, with 50% of those aged 75 and over living alone, compared with 12% of those aged 25-44. (GB) In 2000, of people aged: 65 to 74 75 and over 76% 61% of men were married 56% 27% of women were married 9% 29% of men were widowed 31% 61% of women were widowed. Leisure, Learning and Computers In May 2000, 4 million people aged over 50 owned a computer, spending an average of 9 hours per week using it. (GB)In October 2001, 37% of people aged 55-64, and 11% of people aged 65 and over, had used the Internet. (GB) In 2001, 22% of people aged 65-74, and 12% of people aged over 75, took part in some sort of adult learning. (GB) In 1996-7, walking was the most popular physical activity for older people, with 49% of men and 41% of women aged 60-69, 34% of men and 25% of women aged 70-79, and 19% of men 9% of women aged 80 and over, engaging in a walk of two miles or over in the 4 weeks before interview. (GB) In 1996-97, of those interviewed for the General Household Survey, 99% of those aged over 50 had watched television during the previous month. The next most popular home-based leisure activity was visiting/entertaining friends or relatives (95%), followed by listening to the radio (82%). The Safety and Health of Older People (GB) In 2000, 57% of people aged 65-74 and 64% of people aged 75 and over in the GHS sample reported a long-standing illness. Of those aged between 65 and 74, 37% and, of those aged over 75, 47%, said that they had a long-standing illness which limited their life style. The Alzheimers Society estimates that there are currently over 700,000 people in the UK with dementia, of which only 18,500 are aged under 65. The chances of having the condition rises sharply with age: 1 in 20 people aged over 65, and 1 in 5 people aged over 80, will develop dementia. In 1999, in England and Wales, the deaths of 160 people aged 65 and over involved hypothermia as the underlying cause, according to their death certificates. In 1999, nearly 17% of all accidents within the home involved people aged 65 and over. (GB) In 1999, of 870 pedestrian fatalities on the road, 337 (39%) were people aged 65 and over. Health and Community Care Services (GB) in 2000, in a three-month period, 25% of those aged 75 and over had attended the casualty or out-patient department of a hospital, compared with 15% of people of all ages. (GB) In 2000, of those admitted to hospital in the previous 12 months, the average stay was 9 nights. However, those aged over 75 spent, on average, 16 nights. (GB) In 2000, 86% of NHS GP consultations took place in the surgery. Consultations at home were most likely for older people, with 23% of home consultations being for those aged 75 and over. During one week, in England, in 1998, 445,900 households received home help or home care services. Of these: 83,800 were aged 65-74 144,900 were aged 75-84 and 139,800 were aged 85 and over. Housing In England, during 1998/99-1999/2000: 57% of owner occupiers without a mortgage were 65 and over 4% of owner occupiers with a mortgage were 65 and over 35% of those renting from local authorities were 65 and over 31% of those renting from housing associations were 65 and over 13% of those renting privately were 65 or over. In 1996, in England, 18.7% of single older people (over 60) lived in poor housing. Of people aged 75 and over, 19.9% of households lived in poor housing. The homes of 365,000 (12%) older lone persons (over 60) required essential modernization, compared to a figure of 6% for all households. (GB) In 1998, 4% of people aged 65-69, 7% of people aged 70-74, 11% of people aged 75-79, 17% of people aged 80-84 and 20% of people aged 85 and over lived in sheltered accommodation. With regard to numbers of older people in residential and nursing homes, it should be noted that statistics relate to the primary purpose of the home rather than to the individuals within them. On 31 March 2001, in England, there were 11,500 homes for older people, with the independent sector providing 90% of these. There were 236,700 places for older people, 83% of which were in the independent sector. In England, in 2001, the number of registered beds in nursing homes intended for use by older people was 142,500. In 2001 the chance of living in a long-stay hospital or care home by age was: 0.05% (under 65) 1% (65-74) 4.8% (75-84) 20.9% (85 plus). Living alone In Great Britain in 1996: * In the 65-74 age group, 21% of men and 39% of women lived alone. * 31% of men and 58% of women aged 75 and over lived alone. In 1996, of people Aged 65-74 % 75 and over % 74 62 Of men were married 53 28 Of women were married 13 29 Of men were widowed 35 62 Of women were widowed In 1997/98, amongst pensioners who were mainly dependent on state pensions and living alone: * 81% had central heating, compared to 89% of all households * 14% had a car, compared to 69.8% of all households * 91% had a telephone, compared to 94% of all households * 62% had a washing machine, compared to 91% of all households Assignment 2 Investigating the Feasibility of Opening a Nail and Beauty Parlour in Louth Introduction The aim of this investigation is to explore the feasibility of opening a competitively priced Nail ; Beauty Parlour aimed at a wide range of consumers of varying lifestyles and age groups. A suitable location has been selected in the suburban town of Louth, Lincolnshire, directly opposite the bus station, with many bus stops in the vicinity. Throughout the course of the investigation, various methods of Primary and Secondary research were adopted in order to evaluate whether the business was feasible. The proposed location is approximatelysquare feet in size and will cost à ¯Ã‚ ¿Ã‚ ½27 000pa to rent, with rates of roughly à ¯Ã‚ ¿Ã‚ ½14 000. All required materials could be purchased from Sallys Beauty Warehouseà ¯Ã‚ ¿Ã‚ ½ in Grimsby, a town approximately 35 minutes away from Louth by car. They offer bulk purchasing of all products related to hair and beauty at a discounted price and have a reputation for selling high quality products. The business will be called Lincs Nail Beauty Barà ¯Ã‚ ¿Ã‚ ½. It will have a contemporary design, in order to appear trendy and upmarket. METHODOLOGY Secondary Research Objectives Objective 1 Discover if the chosen location will generate sufficient custom, by assessing the competition in surrounding areas and conducting a SWOT analysis of Louth. This may be investigated by comparing the services offered by competitors to those of your own and conducting a foot count of the number of clients served at particular hours on particular days. Objective 2 To discover the average number of women aged 15-65 residing, studying or working in Louth. Objective 3 To determine the disposable incomes of women in these age groups. The information for the above two objectives, may be discovered from demographic information obtained from the local library. Objective 4 To determine the fixed and variable costs of running the business including factors such as staffing costs and cost of materials required. Objective 5 Investigate the cost of advertising the new business. This may include method of above and below the line promotion and research into local radio, newspaper and leaflet drops must be considered. Objective 6 Discover any relevant legislation that must be taken into consideration with regards to employment. It is essential that such legislation be followed as failure to comply could result in the following: It is the duty of the employer to assess any possible risks, implement the necessary control measures and maintain sufficient records. o Prohibition notices o Public disclosure o Bad publicity-acting as a deterrent for potential customers o Increased insurance premiums o Claims for compensation Primary Research Objectives Objective 1 To determine the likely demand for nail treatment. Objective 2 To determine the additional beauty treatments demanded by the majority. Objective 3 To determine the prices that clients are willing to pay for various treatments and how regularly they will demand the treatment in order to determine to what level stocks would need to be held. Objective 4 To determine how many days a week and at which times the Bar will attract the most custom, to enable opening times to be planned around the optimum demand times. Primary Research Method After researching various methods of research and considering the time limitation in which it must be compiled, it has been decided that a survey is to be conducted in Louth using a random stratified quota selection method of sampling of 100 women within specific age groups which will be recorded in a tally chart format (see appendix). The two main concerns in sampling are how to choose the right people for the interview and how many to interview. The four main methods of sampling have been researched and this may be found in the appendix. The given information will also contribute to calculation of costs in Objective 4 of the secondary research. Questionnaire and Results of Consumer Survey AGE: 15-20 41-45 21-25 46-50 26-30 51-55 31-35 56-60 36-40 61-65 WHY ARE YOU CURRENTLY IN LINCOLNSHIRE? Residing here Studying here Working here Visiting DO YOU/WOULD YOU CONSIDER HAVING NAIL AND/OR BEAUTY TREATMENT? Yes No IF SO, WHERE DO YOU CURRENTLY HAVE IT DONE? Louth Grimsby Horncastle Holton-le-Clay Caistor Other WHAT TREATMENT DO YOU/WOULD YOU CONSIDER HAVING? 1. Accrylic Nail Extensions 2. Manicure 3. Pedicure 4. Nail Art (airbrushing) 5. Threading (eyebrow, upper lip etc.) 6. Waxing (legs, arms, underarms etc) 7. Massage HOW MUCH WOULD YOU BE WILLING TO PAY FOR THE ABOVE TREATMENTS? à ¯Ã‚ ¿Ã‚ ½ 5-10 10-20 20-30 30-40 40+ ON WHAT DAY WOULD YOU PREFER TO VISIT A NAIL BEAUTY PARLOUR AND AT WHAT TIME? 09.00-12.00 12.00-18.00 18.00-21.00 Monday Tuesday Wednesday Thursday Friday Saturday HOW OFTEN DO/WOULD YOU VISIT A BEAUTY PARLOUR? Twice Weekly Weekly Fortnightly Monthly Every other month Special Occasions Other Results of Questionnaire By doing these charts I can make some clear conclusions from my results. It appears that it is very feasible that my business can go ahead and be profitable. SECONDARY RESEARCH RESULTS Objective 1 It was discovered that there is another Beauty Salon in Louth as well as a number of hairdressers, which provide the manicuring service. Their prices however, are substantially higher than any that the Lincs Nail Beauty bar is aiming to charge. This alone will enable it to compete effectively. Below are 2 comparative lists between the planned features of the Nail Beauty Bar and the competitors in Louth: Services exclusive to Lincs Nail Beauty Bar: o Threading a more accurate method of hair removal that is a specialized skill originating in India. Creates a better shape of eyebrow and is a relatively speedy method of treatment. Very cheap to perform as it simply requires a small length of thread and some talcum powder. o American style nail art (airbrushing) creates intricate patterns on ones nail in varying colours and styles. A hugely fashionable feature with teenagers and adults alike. It is likely that once a client comes for a specific treatment such as airbrushing, they can be convinced to return for other treatment relating to the nails such as nail extensions. o All services provided by the competition will be provided at a lower price by the Nail Beauty Bar hence attracting a large proportion of the extensive teenage population that study in the surrounding area. Services provided by Louth competitors: o Hair cuts and colours o Electrolysis o Facials and skin treatments A foot count was collected outside the Beauty Salon of the Louth competitor and outside the Nail Salon of the greatest nail treatment competitor, which is in Grimsby. Each was observed for a period of one hour, three times throughout the day on a Wednesday and Saturday. The results are as follows: TIME/DAY NUMBER OF PEOPLE IN Louth / Grimsby 09.00 -10.00 Wednesday 6 /2 Saturday 11 /2 12.00-13.00 Wednesday 19 /4 Saturday 30 /5 16.00-17.00 Wednesday 25 /2 Saturday 30 /3 S.W.O.T Analysis of Louth and Location of Premises. Strengths: o Wealthy area in which disposable incomes are high o Situates two all girls private schools from which the students also have relatively high disposable incomes. Also surrounded by numerous mixed schools providing a large number of clientele during the week. o Premises directly opposite a bus station and surrounded by bus stops from various routes, hence enabling easy access to the Bar. Plenty of car parking spaces available. o The premises have many large windows and an open plan, located directly in the centre of the town, providing much opportunity to entice custom via interior design. Weaknesses: o Is not a large retailing town such as Grimsby, and therefore most people who will know of its existence will be those who frequently visit Louth, unless a large budget is set aside for advertising. Also due to this, people may prefer to go to Grimsby as they can see a movie and do some shopping while they are there. o Limited parking space available Opportunity: There is an opportunity to completely dominate the market of Louth and the small surrounding towns as the main service provided is modern, fashionable and the closest replicating service is in Horncastle. On top of which it will be the most competitively price though this may require the adoption of penetration pricing until customer loyalty is established. If market domination is established there is and opportunity to expand the range of services to include new and radical skin treatments and bring the big town salon treatments to the suburbs. Threats: The main threat comes from current competitors who may also aim to slash prices, if this is the case, the Lincs Nail Beauty Bar may have to rely on their product differentiation and customer relations alone to help them survive. See Maps located in the appendix. Objectives 2 3 In order to discover how many women reside in the area or Louth and what their disposable income is, information was extracted from a demographic study and can be seen in following pages. There are two private all girlsà ¯Ã‚ ¿Ã‚ ½ schools in Louth, each holding approximately 1000 girls aged 12-18 years old. The women working in the town centre were counted and amounted to roughly 65. Whilst the disposable income of these working women does not amount to a significant amount, the disposable income of the girls studying in the area is unusually high due to many coming from wealthy backgrounds who receive money from their families instead of or, as well as earning their own. The total resident population of women aged 16-59 in Louth, amounts to roughly 5205 according to the 1991 census, the proportion of which are economically active as follows, according to the 1981 census: Full time employees 38.59% Part time employees 16.5% Self employed 5.82% Objective 4 Rent: Twenty Seven thousand pounds per annum, of which approximately à ¯Ã‚ ¿Ã‚ ½6750 must be paid within the first 3 months. Business Rates: The average business rates would come to around à ¯Ã‚ ¿Ã‚ ½14000. Decoration Cost: The actual layout of the shop currently is suitable, with a large open plan main area in which the nail treatment may be performed. There are also two back rooms available for additional treatment. The main decorative feature will be the mirrored walls to enable the bar to appear larger than it is. Additional decorative features are the aquarium and lava lamps. The total costs amount to about à ¯Ã‚ ¿Ã‚ ½2000. First time customer bonus: In order build good customer relations, an offer of a complementary glass of wine with all treatment above à ¯Ã‚ ¿Ã‚ ½5 will be available in the opening week of the Bar. à ¯Ã‚ ¿Ã‚ ½200 has been set-aside for this. Equipment and Furniture cost: As calculated from the prices collected at Sallys Hair and Beauty World (see Appendix). Total cost amounts to approximately à ¯Ã‚ ¿Ã‚ ½1853.98. Staffing costs: it has been decided to have the Bar open for a total of 48 hours a week at times varying to suit the majority of clientele (see Primary research). 10 nail technicians and 2 beauticians are required. They will be paid à ¯Ã‚ ¿Ã‚ ½5/hour. Assuming that the Bar will be open 50 weeks a year, costs amount to à ¯Ã‚ ¿Ã‚ ½144000 per annum. Objective 6 Health ; Safety Legislation Health ; Safety at Work Act 1974 brings together all past legislation that protected employees from hazardous conditions. Race Relations Act 1970 aims to protect individuals against discrimination on the grounds of race, colour, nationality or ethnic origin. Equal Pay Act 1970 states that women performing a similar job to men should be treated equally in every way. This includes pay, work conditions and also opportunity for promotion and recognition. Employment Protection Act 1975 ; 1978 (original act amended in 1978) requires employers to provide employees with a contract within 13 weeks of commencement of employment. TOTAL COSTS FIXED COSTS à ¯Ã‚ ¿Ã‚ ½ Rent 27 000 Business Rate 14 000 Maintenance 2 000 Insurance 1 000 Equipment ; Furniture 1 854 Staff Cost 144 000 Bonus 2 00 Heating ; Lighting 5 500 Decoration 2 000 Advertising 10 000 Total Fixed Costs 207 554 PRIMARY RESEARCH ANALYSIS OF THE CONSUMER SURVEY It was evident during the collection of the primary research information that there was an extremely large, non-resident population of 15-18 year olds, due to the two girls only private schools in the area. There were also a large number of females shopping in the town due to the many residential homes. Whilst it can be assumed that the high proportion of pensioners in the area may not have sufficient disposable income to spend in the Bar, it can also be assumed that this will be compensated for by the rather high disposable incomes of the school girls. A discount for pensioners and students with NUS card may be considered once the business is well established in the community. Pie chart to show the current outlets favoured by the consumers interviewed It is evident from the chart and the foot count performed previously, that the main competitor in the nail service, is in Grimsby. As Louth is a significant distance away from Grimsby some 12 miles, the Bar will be opening the door for a whole new range of customers and hopefully develop the custom those living in the area that previously visited the Grimsby store. It is also evident from the survey conducted, that demand for the treatment offered is not consistent throughout the day, everyday. It is therefore not profitable to remain open from 09.00 17.00 every day if it would prove beneficial to the business to be open from 12.00 21.00 on particular days throughout the week. The feedback compiled suggests that the following opening times should be tried provisionally: Monday 09.00 12.00 Tuesday 09.00 18.00 Wednesday 12.00 21.00 Thursday 12.00 21.00 Friday 09.00 21.00 Saturday 09.00 18.00 Sunday Closed Profit and Loss This is a forecasted profit and loss that will follow the principle of caution and understate the forecasted sales, from the estimated 66 of 100 people (see survey) to 20% of the population of women in Louth spending an average of à ¯Ã‚ ¿Ã‚ ½20 a week, therefore à ¯Ã‚ ¿Ã‚ ½240 a year. FORECASTED PROFIT AND LOSS ACCOUNT FOR THE LINCS NAIL BEAUTY BAR FOR ONE YEAR AT 20% à ¯Ã‚ ¿Ã‚ ½ à ¯Ã‚ ¿Ã‚ ½ Sales Revenue 249,840 Cost of Goods Sold 3,537 Gross Profit 246,303 (Expenses) Rent 27,000 Maintenance 2,000 Insurance 1,000 Wages 144,000 Rates 14,000 Decoration 2,000 Opening of store 200 Advertising 10,000 Lighting Heating 5,500 Equipment Furniture 1,854 Depreciation 25% 464 Interest 208,018 Net Profit 38,285 The following profit and loss calculates an estimated sales turnover, based on 66% of the population of women in Louth using the service. This is an optimistic view estimating the probable maximum profit that can be achieved. FORECASTED PROFIT AND LOSS ACCOUNT FOR THE LINCS NAIL ; BEAUTY BAR FOR ONE YEAR AT 66% à ¯Ã‚ ¿Ã‚ ½ à ¯Ã‚ ¿Ã‚ ½ Sales Revenue 824,472 Cost of Goods Sold 3,537 Gross Profit 820,935 (Expenses) Rent 27,000 Maintenance 2,000 Insurance 1,000 Wages 144,000 Rates 14,000 Decoration 2,000 Opening of store 200 Advertising 10,000 Lighting ; Heating 5,500 Equipment ; Furniture 1,854 Depreciation 25% 464 Interest 208,018 Net Profit 612,917 This profit and loss assumes that the sales turnover will be generated by an average of the previous assumptions 40% of the population of women in Louth. This takes into account both the optimistic and pessimistic forecasts for profit and loss, and also considers the fact that not all the potential clients are residents in Louth. FORECASTED PROFIT AND LOSS ACCOUNT FOR THE LINCS NAIL BEAUTY BAR FOR ONE YEAR AT 40% à ¯Ã‚ ¿Ã‚ ½ à ¯Ã‚ ¿Ã‚ ½ Sales Revenue 499,680 Cost of Goods Sold 3,537 Gross Profit 496,143 (Expenses) Rent 27,000 Maintenance 2,000 Insurance 1,000 Wages 144,000 Rates 14,000 Decoration 2,000 Opening of store 200 Advertising 10,000 Lighting Heating 5,500 Equipment Furniture 1,854 Depreciation 25% 464 Interest 208,018 Net Profit 288,125 Flow Chart Such a diagram shows how long it will take to actively start up the business and enables easier planning of the opening activities and waste less time, therefore operating expense. Identify and decide on Approximately 2 weeks Suitable premises Raise sufficient funds Approximately 20 days Planning Permission Approximately 85 days Redecorate the premises Maximum 3 weeks Set up equipment and 1 day Furniture Advertising Approximately 20 days Open the Shop Approximately 6 months Analysis of the Research In order to start the business, it has been calculated that an initial investment of approximately à ¯Ã‚ ¿Ã‚ ½83000 is required (assuming that the wages and rent is paid for the first quarter only). The owner of the business has inherited à ¯Ã‚ ¿Ã‚ ½10000 from her grandmother. She has the option to raise the rest of the funds required by either taking out a loan at the bank, or selling shares in the business to family and friends. At present, interest rates at the bank are relatively low, meaning that the owner will be paying less interest on the money borrowed, which proves to be more profitable to the business and improves cash flow. However, there is no interest payable to shareholders as such, which is beneficial to a business starting up, as it reduces the risk of increasing debts before a profit is shown. Shareholders, however, are owed dividends and in the long run, the business may be paying out more in this way, than if they had taken a loan, on top of which, entering into a business relationship with friends and family may strain relations through disputes about the business. There are many benefits to opening the Bar in Louth such as: Lack of competition there is a lack of similar services provided in, or in directly surrounding areas. Competitive Pricing those that do provide some of the services available at the Bar, do so at a substantially higher fee, on average, à ¯Ã‚ ¿Ã‚ ½30-50 a visit, whilst the Bar aim to provide service of the same, or better standard for approximately à ¯Ã‚ ¿Ã‚ ½20-35 a visit. As the forecasted profit and loss accounts show, even at this price, costs can be covered comfortably and if the Bar generates a strong customer following, prices may be raised at Christmas and peak holiday seasons for example. Product the services being offered are well differentiated in its market of beauty treatment, as it offers specialist services such as nail art and threading, which are continuously increasing in popularity with women of all ages. There is also the option to expand into ear piercing or mens treatment, once the Bar is well established. Research has show that the huge surge in demand for nail art and extensions is not believed to be a fad. Similar behaviour was experienced in America nearly a decade ago, and popularity for nail bars there has only strengthened. It is now perceived to women to be as essential to women as a hair cut within their grooming routine. Advertising advertising is an essential factor in the prosperity of the business. Due to the fact that Louth is not a well-known town, the Bar requires much publicity to attract the custom of those in surrounding areas. à ¯Ã‚ ¿Ã‚ ½10 000 will therefore be spent on advertising. à ¯Ã‚ ¿Ã‚ ½4000 on the local newspaper, à ¯Ã‚ ¿Ã‚ ½5000 on Lincs FM and à ¯Ã‚ ¿Ã‚ ½1000 on distribution of flyers to surrounding areas. Methodology I believe that the majority of the research conducted was as accurate as possible. The demographic information taken from the most recent Census was produced in 1991 and it can be assumed that the main difference in recent data would be an increase in population as more houses and flats have been built in the area. Comparison between the 1981 and 1991 Census also shows a huge increase in the size of the population. I also believe that the questionnaire conducted in Louth produced inaccurate results as it is unreasonable to say that over 60% of women would be willing to have such beauty treatment. I believe that this anomaly arose due to only 100 people being questioned. If I had more time to compile my research, I would interview a greater amount and range of people for example, devise a specialised questionnaire for students alone as they make up a large proportion of the daytime population of Louth. It must also be taken into consideration however, that regardless of the amount of research conducted, there may be many unforeseeable circumstances that could affect the profitability of the business, external factors such as a downturn in the economy. Conclusions After conducting all relevant research and taking into consideration any anomalous data as well as examples of such businesses success in the U.K. and abroad, I believe that there is a great chance of success in for the Lincs Nail ; Beauty Bar. Research shows that there is already substantial demand for the services offered and continuation of this would enable the Bar to expand further and possibly open another branch elsewhere, or even consider the idea of opening concession branches within well established stores such as Fenwick or Selfridges. From the graphs compiled it is evident that the average amount one is willing to spend on treatment per visit is à ¯Ã‚ ¿Ã‚ ½20 and the average disposal income of the locals residents can more than comfortably accommodate this. Suitably trained staff is the most important factor in establishing a successful business, especially in a service-orientated business such as the Bar. Due to the fact that they have specialist skills, they must be paid above the minimum wage and though they incur the highest cost within the business, this compensated by low costs of materials. Along with the skills they have learnt, they must have excellent communication skills and build up a strong relationship with the clients in order to deter them from going elsewhere. The business may have been even more profitable if set up in Grimsby, a town that attracts many people due to the large shopping centre. There is however much more competition in that area and lower disposable incomes amongst the residents. SUMMARY Chance of Success After studying the various forecasted profit and loss accounts, it is evident that the business has the potential to be extremely profitable, if all other factors run accordingly. The supplier has come highly recommended by various beauticians within surrounding areas as having almost 100% reliability and due to the fact that it is so close to Louth, delivery costs are avoided as a member of staff could easily collect the material required. The only foreseeable problem in this area is external. A change in exchange rates may increase the price of supplies, as they are all imported. Advertising will also play an important role in the establishment to the business and advertising in the local paper and on the local radio, will make many residents aware of the presence of the Bar. Flyers will reinforce this within the minds of the residents. Excess advertising is not required as the location of the Bar is such that it is clearly viewed by many as its location is optimal, directly in the centre of town. The dà ¯Ã‚ ¿Ã‚ ½cor of the Bar is such to attract the attention of all passing by. The aquarium and lava lamps create a funky yet relaxing atmosphere and will compliment its modern, spacious design. Evaluation. The main restriction I experienced was that of time. If I had the option to redo the project, the main area I would correct would be that of the questionnaires. I would take a much larger sample, of perhaps 400 and even investigate the demand for beauty treatment by men. From the project I have compiled however, not taking into consideration external factors, the idea of opening a Nail ; Beauty Bar in Louth is definitely feasible. The forecasted profits are extraordinary mainly due to the low costs incurred and if such a simple idea could generate such large sales turnover, it may not be a bad idea to make the idea of the Lincs Nail Beauty Barà ¯Ã‚ ¿Ã‚ ½ a reality!

A Guide to Writing a Peer Review Essay

A Guide to Writing a Peer Review EssayWriting a sample peer review essay is not that difficult, but it does take a certain amount of preparation before you begin. In order to prepare your essay for publication, it is essential that you have a guidebook of how to do peer review essays. There are many resources available for you to help you write a well-formulated peer review essay.It is important that you set aside some time to write a good paper for publication. It may take you some time to compose the essay, but the more time you spend on the writing process, the more likely you are to be able to bring out the best from your work. Because there are so many kinds of writers out there, it can be hard to decide on a style. Nevertheless, you will have to go with one style for your sample peer review essay, as peer review essays are usually based on the rules that are followed by other authors.A good way to determine how you want to write a peer review essay is to talk to other authors w ho are either writing on the same topic or perhaps have published a similar article. How they write their peer review essay is usually the guide that you can use to write your own. You can learn a lot about how they write and what they like and dislike in a peer review essay by talking to others who have written on the same topic.Of course, one of the most important aspects of writing a review essay is how you go about doing it. You will first need to have a plan. It is crucial that you go through your thesis, list all the sources that support it, and find all the strengths and weaknesses that you think could impact the quality of the essay. It is also a good idea to have a plan on what you would like to accomplish with your peer review essay.Once you have your plan, it is time to develop a new plan based on it. Thisis very important, as it gives you a solid foundation for all your other articles that you plan to write. With a well-formed plan, you will be able to narrow down your p ossible topics and strengths and weaknesses.Although you may be very busy and have an excellent memory, it is still important to get enough sleep and eat certain things for your brain to function well. You should also exercise regularly, especially if you are an athlete or someone who works out frequently. Exercise helps your body as well as your mind to focus the energy that you are going to use for your review essay.Writing a peer review essay can be a daunting task, but with a guidebook and a good plan, you can rest assured that you will write a good paper for publication. After all, how else can you use the final draft of your peer review essay? Sooner or later, you will realize that you have used your skills well.