United Kingdom and the Eurozone

United Kingdom and the Eurozone DEFINITION OF CURRENCY UNION In the world today, systems in which countries come together in agreement of sharing single money. The system is called currency or monetary union, its importance and number of participants is growing. In May 2005, 52 out of 184 IMF members participated in currency unions (Rose, 2006). A currency union can be defined as a system where two or more groups usually countries share a common or single currency in order to keep the value of their currency at a certain level (Investopedia, 2015). It can also be defined as an agreement among member’s countries or other jurisdictions to share a common currency, and a single foreign and monetary exchange policy (Rosa, 2004). Currency unions occur when a poor country unilaterally adopts the money of a larger â€Å"anchor† country. For Example, a number of countries currently use the American dollar such as Panama, Ecuador, and a number of smaller countries and dependencies in the Caribbean and Pacific (Rose, 2006). In Africa, Swaziland, Lesotho and Namibia all use the South African Rand thereby forming a currency union (Multilateral monetary area). In these cases, the exchange and interest rates of dependent countries are influenced and determined by the anchor country, generally in the interest of the anchor. There are a number of multilateral currency unions between countries of similar size and wealth such as the East Caribbean dollar: Anguilla, Antigua and Barbuda, Montserrat, Grenada, Saint Kitts and Nevis, Saint vincent and the Grenadines and Saint Lucia. The Central Bank of the West African of the CFA franc: Benin, Burkina Faso, Guinea-Bissau, Mali, Niger, Senegal and Togo and also the Bank of the Central African States. Other currency unions in the world are the monetary authority Singapore, eastern Caribbean currency union, multilateral monetary area etc. The largest currency union is the Economic and Monetary Union of the European Union which began on the 1st January 1999, although the euro was only physically introduced three years later. Twelve countries instituted the euro as a legal tender, delegating and determining monetary policy for EMU to through the international European central bank. One of the reasons of forming a currency union is mainly to synchronize and manage each member countrys monetary policy which could be done through lowering of transaction costs of cross-border trade (Silva and Tenreyro, 2010) The union is expected to grow more with Cyprus, Malta, Slovakia and Slovenia recently joining the area and other states such as Monaco, San Marino and Vatican City unilaterally adopting the euro as their sole currency however, Sweden, Iceland, Denmark and the United Kingdom have rejected membership but maintained debates on the advisability of adopting the euro particularly after the onset of the global financial crisis (Carney, 2014). Currency unions have no definite size therefore there is no appropriate domain for a currency. The use of a single or common currency is advantageous to regions as well as can also cause problems in the dual presence of asymmetric shocks and nominal rigidities (in prices and wages) (Mundell, 1961). The effect of the size on currency union tend to create more open and fewer nominal rigidities for smaller countries making them better candidates for currency unions (Mckinnon, 1963). The effects of the economys degree of diversification could result in fewer asymmetric shocks and accordingly fewer benefits from national monetary policy. The insights of the theory of optimum currency areas provided by Mundell (1961) concluded that common currency areas are defined by internal mobility and external immobility of factors of production. According to this theory, the optimum size of currency area depends on the tradeoff between the macroeconomic efficiency gains and micro-economic costs. The forming currency unions have its costs as well as benefits. THE COSTS Generally, the main cost of joining a currency union is the loss of an independent monetary policy with the inability to react to shocks through exchange rate adjustments. Monetary independence can be beneficial when shocks are regionally specific, alternative mechanisms are weak and when exchange rate changes function as means of lightening idiosyncratic shocks Countries that could potentially let their exchange rates adjust to justify the impact of shocks often display fear of floating and thus do not exploit the automatic stabilization properties of exchange rates (Calvo and Reinhart, 2002). Countries reluctance to implement monetary policy to tackle shocks could be linked to its actual effectiveness; less effectiveness of monetary policies to facilitate the adjustment or possibly wider consideration such as fear that it may trigger beggar thy-neighbor responses by trading partners inducing structural volatility in the financial markets. Besides the absence of price adjustment mechanisms, output stabilization and currency revaluation in the currency union faces another challenge. A system of income transfers is necessary for softening negative asymmetric shocks in countries that have joined a currency union however; the prospect of income transfers between countries generates the type of moral hazard commonly seen in insurance models (Grabner, 2003). Another cost of currency unions relate to overcoming structural differences among the countries. The transition towards a monetary union is likely to expose structural weaknesses (Jacquet 1998 and Grabner 2003). By entering a monetary union, countries lose the ability to correct their monetary troubles in short term. The necessary structural reform preceding the acceptances of a single currency focus on issues like taxation, supervision of capital markets and also mutual recognition and harmonization of labor markets (Jacquet 1998). There is also an issue of fiscal financing. Public budget can be financed from government bonds and tax revenues. A country in a currency union is likely to face constraints on financing options resulting in a suboptimal situation. At the same time, government bonds are linked to inflation and a currency union implicitly assumes convergent optimal inflation rates (Grabner 2003). In reality the optimal levels of inflation may differ among the countries in the currency union. Furthermore, the cost or problem of currency union inability of participant countries to independently choose an inflation rate. It seems relatively less important now than in the past as improvements in available technology to central banks enable sustainable inflation that result in low actual inflation rates in most countries however if a country plagued by low productivity enters a currency union of higher productive countries, it could experience higher inflationary rates (Coleman 1999). THE BENEFITS One of the main benefits of currency unions envisaged by Mundell (1961) is the elimination of currency conversion costs and greater predictability of prices which would increase trade. The savings are more significant for small, open and less developed countries whose currencies are not used for international payments (Grabner 2003). Coleman (1999) mentions the savings from the reduction of transaction costs and reduction of price uncertainty together account for 0.4 percent of GDP in the Eurozone. Increased price transparency and reduced price uncertainty are often quoted as interrelated benefits of currency unions. The reduction of price uncertainty is linked to the use of unit of account which is simultaneouslu used by broader economic area (Zika, 2006). The even disappearance of exchange rates removes a vital barrier to trade integration; this furthermore leads to better information, increased competition and price transparency (Jacquet 1998 and Grabner, 2003). Further benefit of monetary union is the removal of competitive devaluations by member countries which also known as â€Å"beggar-thy-neighbor† policy (Kronberger, 2004). Within currency unions, both importers and exporters have a strong interest in avoiding disproportionate swings in exchange rates. The transfer of resources between regions by the centralized monetary authority through its money issuing function. These transfers can be used to diversify the risk of expected economic shocks however; public finance plays a significant role (Voss, 1998). Currency union has the potential to reduce the number of investment failures. Price uncertainty negatively impacts the welfare or risk adverse individuals in standard economic theory. The greater exchange rate volatility tends to impair the quality of decisions about investment projects abroad; therefore greater exchange rate volatility implies more frequent investment failures and larger costs (Grabner, 2003). Higher risk caused by the increase in price and exchange rate uncertainty increases the real interest rate. Higher real interest rates then highlight the problems of moral hazard and adverse selection. This therefore helps lower systematic risk (Grabner, 2003). Finally, the vast economic area of currency unions increases the effect of networking. The adoption of a single currency in a bigger economic area creates greater benefits for all users. Looking at the economic structure of the United Kingdom and Eurozone, both have projects which are suitable to the individual development and growth of both economies. The United Kingdom becoming a member of the eurozone will be more of disadvantage than benefit to the United Kingdom due to several reasons. The core argument for entering the EMU is the elimination of exchange risk against the euro which would promote much more trade with and within Europe by merging the rather risky and limited sterling capital market into a bigger and less risky euro capital market. The joining of the Eurozone is not to world currency but a regional one. Outside of Europe, most of the world either uses the dollar or is tied to it in some way therefore trade and investment would be half with the euro area and half with the dollar area. But over the years, euro/dollar exchange rate has been highly variable which when compared to British pound/dollar exchange rate it doesn’t seem convincing. If the UK remains outside, the pound can go between the two currencies as the euro swings occur against dollar thereby sitting on the middle of a seesaw. Looking at this, there is no necessary gain in the exchange risk reduction in UK joining the Eurozone and that it is even possible that the overall risk would rise. The benefit of price transparency and comparison between UK and Eurozone is also of little importance in the sense that United Kingdom has no land borders with the Eurozone unlike Belgium and Netherlands. Given this fact, the comparing of prices between both zones is irrelevant. In terms of bailout and the emerging state pension crisis, growth and development is slower than expected while unemployment is turning out to be higher. The politics of pension cut benefits is speculative given that the aging population will increasingly be dominated by older voters. The effect of raising taxes further would lower growth and increase unemployment. It is a matter of concern to the UK that cost of meeting explosive financial liabilities might somehow impact British taxpayers. In conclusion, the reduction of transactions cost of currency exchange would be roughly offset by the one-off cost of currency conversion. There would be some gain from eliminating exchange risk against euro but this would be offset largely by the volatility against the dollar with around half our trade broadly defined with countries either on or closely linked to the dollar. Generally, the exchange risk does not appear to have an important effect on trade or foreign investment, and in the UK case, on the cos of capital. Honestly, I would like to advice that the UK waits and properly assess and plan out different projects. Due to the structure of the Eurozone, I am strongly against the UK joining the Eurozone which is the best interest of British citizens REFERENCES A Coleman. (1999).Economic integration and monetary union.Available: http://www.treasury.govt.nz/workingpapers/1999/twp99-6.pdf . Last accessed 04-01-2015. Andrew K. Rose. (2006).Currency Unions.Available: http://faculty.haas.berkeley.edu/arose/Palgrave.pdf. Last accessed 05-01-2015. 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R Layard, W Buiter, C Huhne, W Hutton, P Kenen and ATurner. (2002).Why Britain Should Join The Euro.Available: http://willembuiter.com/RL334D.pdf. Last accessed 05-01-2015. Robert A Mundell. (1961).A Theory of Optimum Currency Areas. Available: http://digamo.free.fr/mundell61.pdf. Last accessed 05-01-2015. Ronald I. Mckinnon. (1963).Optimum Currency Areas.Available: http://www.jstor.org/discover/10.2307/1811021?sid=21105014573601uid=4uid=3738032uid=2. Last accessed 02-01-2015. S Rosa. (2004).Definition Of Currency Union.Available: https://www.imf.org/external/np/sta/bop/pdf/cuteg1.pdf. Last accessed 04-01-2015. S.Silva and S. Tenreyro. (2010).Currency Unions in Prospect and Retrospect.Available: http://personal.lse.ac.uk/tenreyro/cupaper.pdf. Last accessed 01-01-2015. S.Tenreyro. (2001).On The Causes and Consequences of Currency Un.Available: http://faculty.haas.berkeley.edu/arose/tenreyro.pdf. Last accessed 05-01-2015. Willem H. Buiter. 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Business Plan for Restaurant Development

Business Plan for Restaurant Development Introduction This essay is a business plan for the creation of a Greek restaurant by the name Athens. The restaurant will offer the installations for 200 individuals per all moment. Except of standard installations the restaurant will be also able to offer recreational programs with Greek music and traditional dance. The competitive benefit of enterprise will be its preferential locality and the benefit the most excellent and competitive services and products for the customers of enterprise. The business is planned to position in Buxton providing comforts in the residents of region as well as in the tourists of region. The district as well the business has contact with all public benefits, as electric current water and installations of telecommunications. Executive Summary Athens will be a new restaurant business that seeks to present a new display in the restaurant business in Buxton. The business offers value to clients by offering quality services of high quality food and beverages, Moreover the company offers the rapid implementation of the orders in accordance with the specific needs of individual customers for a particular event and a range of additional services available to the client. The aim of enterprise is the best option for the customer that provides in each customer the worth and the pleasure while the profitable increase is the objective of the corporation In addition, the goal of greater client service and pleasure will take devotion from all members of employees and suppliers (Barrow Paul, 2001). The place installation of enterprise is the Buxton, and the benefit of the above mentioned place consists in the following criteria. The first and main criterion is that does not exist other same business in the region on Buxton which offers services that is forecasted to offer in our business. In Buxton there are a lot of students could comfortably use the services of the company. Buxton is tourist area just 25 miles from the big city of Manchester and also the Manchester airport (Innkeeper, 2000). The competitiveness of enterprise will be the unique quality and category of its products and the institution of benefit of services will leave an impression. Does not exist any indirect competitor in the market of Buxton. The business will be unique. Aim and Objectives The aim of business is the preparation of exceptional foods with the real flavour that becomes from supplier with the bent and provides the service that leaves an impression. Our objective is the superior customers service and satisfaction giving the customer the best products. We exist to attract and retain customers. When we stick to this maxim, everything will be settled. Our services will exceed the expectations of our customers. The vision is revealed with three ways: The most important objective is to propel the company into an important and famous market position. The company will produce the same qualitative results significantly over and over. The companys staff will always be steadfast in our obligation for the customers service and pleasure. To develop a viable business startup. To develop enough cash flow, pay full wages and also to develop the business. (Biztree,2009). Mission The current environment presents the consumer with a range of options. The business try to be the best option for the customer that provides unique high-quality food, competitive pricing and excellent customer service is the specific nature of the business. By way of reliable and consistent, high quality results the company is committed to providing each customer with value and pleasure. The customer service and profitable growth are the two important cornerstones of the business. As a company needs to be tied to the customer and have fervor for the product supplied with the bid to improve continuously and enhancing the experience of client. It is important to assess the integrity, honesty to change, individual excellence, constructive self-criticism combined with mutual respect between the business, the purchaser and the supplier. The goal is to provide high quality food and beverages at a competitive price but valuable achieving the goal of becoming the best business services class in the city functioning as a socially responsible company (Entrepreneur Media, 2009). Key to Success The key to success at this business includes commitment to quality and customer satisfaction. The corporation will be responsible for ensuring a high grade of professionalism in three ways: Create a unique business that will be different from the rest of the competition Consistent fulfillment of the customer expectations. Competitive pricing for the quality and array of services which offered. A fair and reasonable but also satisfactory profit on each event (West Alan, 1998). Company Summary Athens will be a new corporation which plans to market in the growing market of restaurants. The company will provide to the client a combination of excellent and quality food and beverages in good price in a friendly atmosphere where the customer feels always welcome. The business will provide excellent customer services and the major purpose of business is the economic success of the corporation that should be good enough to give a reasonable profit from any product or service provide. Company Ownership Athens will be established as a partnership. The property will be divided to 50% Leandros Leandrou and 50% to Kypros Ellinas. Both owners have a great interest and experience in cooking, especially in Greek cuisine and generally in the food industry. Start Up Summary The main expenses of setting up the company are a bank finance that valued at à ¢Ã¢â‚¬Å¡Ã‚ ¬ 100,000. 00. The company has purchased the site types that will be installed so there is no need to invest in new facilities. ITEM  £ Wet bain barie à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦.1.076.00 Gas Cooker ÃŽÂ § 3à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦.6.240.00 Gas Double Fryerà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦4.008.00 Gas Chicken grill With Spitsà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦..4.864.00 RSI Greece Cold Displayà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦.1.100.00 RSI Greece Hot Display ÃŽÂ § 2à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦..à ¢Ã¢â€š ¬Ã‚ ¦..1,360.00 Seretides Gas Gill With Grease Trap ÃŽÂ §2à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦..2.226.00 Shallow Cookpot, 3.60 L X4à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦00.180,88 Shallow Cookpot, 5.60 L X6à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦00.333,90 Medium Cookpot, 12.10 L X4à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦00.406,96 Medium Cookpot, 17.40 L X2à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦.à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦00.266,08 Deep Cookpot, 11.10 L X4à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦..à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦..à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦..00.295,64 . Deep Cookpot, 22.5 Là ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦..00..140,87 Pan1à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦.à ¢Ã¢â€š ¬Ã‚ ¦00.105,22 Pan2à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦..à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦.00.151,30 Lavatories accessory of bathroom and elements2.541,17 Air condition 2,150.00 Cash machine..3.519.00 Luminous label 00.440,00 Oil paint 40 L à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦..à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦.à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦..00.249,10 Refrigerators..12,500.00 Lawyers expenses.3.300.00 TOTAL  £47,454.12 + Salaries for 1st month9.620,00 + Insurance for 1st month.00.200,00 + Bank Payment..00,450.00 + Tables and Chairs..2,275.88 + Cash start up. 40,000.00 Total Start up Summary  £100,00.00 (Virardi Ltd 2009; Haier Co., Ltd 2008; Peletico Ltd 2007). Budget and Cash Flow Analysis and Budget of Cash Flow Cash flow is the movement of money from and to the company. This circle of meters (inflows/income and flows/payments) is that determines also the economic robustness of each enterprise. Analysis of inflows/ flows is the study of cash inflows and flows of enterprise with final aim the maintenance of sufficient fluidity for her operation. The enterprise can avoid problems of fluidity and improve the cash situation realising analysis in concrete accounts as the receivable and payable accounts or the height of reserves. Management of cash flow is the process at which we check, we analyze and adapt the financier flows. This process presupposes comprehension of complete operation of enterprise as well as her exchange circuit which is achieved via the improvement of processes. Creating a budget of cash flow: We can forecast the source and the use of meters of enterprise for future periods. We can realise by any chance future problem of fluidity so that the enterprise proceeds in time in corrective movements. The movements can include time shift of concrete transactions (postponement of payments or more rapid income) Having it creates budget of meters we can we realise whether we will need in future lending as well as who will be his height (Universal Business Analytics Ltd, 2010). (See appendix 1) Product and Service The enterprise offers a wide spectrum of foods and drinks products, all from high quality products. Moreover, the enterprise serves all its customers, providing each customer with high quality of foods and drinks. The corporation is able to serves and organizes events like, weddings, christening, meetings and birthday parties. Menu The menu will include a variety of products that will create a unique restaurant. Supply of food will include advanced kitchen skills and allow the customer a choice of hot and cold dishes to suit the customer. Company Location The business will be located in Buxton area. The aforementioned place consists advantage for the business, because is just fourteen minutes away from the big city of Manchester. That will be an opportunity for the corporation to attract people from Manchester, and also is an opportunity to servant its business network. Some information for Buxton Buxton is on the edge of the Peak District National Park, the first National Park to be designated in Britain. It lies between the cities of Manchester, Sheffield, and Derby. Buxton is near by large town Macclesfield. Buxton is just about 25 miles from the big city of Manchester. Buxton is 10 miles west of Bake well, 10 miles east of Macclesfield and 15 miles of Stockport. Buxton offers a wide range of shops in the Spring Gardens Shopping Centre, the High Street and the Cavendish Arcade. Buxton Opera House, Buxton Museum Art Gallery (Innkeeper, 2000). Service and staff The company to obtain and maintain a beautiful picture quality of the company will train the staff of the company. The staff is the mirror of company that enhances and reflects the properties of the company. All staff members will have to undergo a training program that will adjust the staff requirements and company policy. In this way the company will produce higher goods and services, we may discuss the problems of business and also be more convenient approach to the type of work required. Also educating the staff will achieve less staff supervision, greater production. Consistency and staying firm at the same high standards is the key to success. Organizational Structure The company will set up by two people. Each of the owners will have the right to utter his views and opinions on everything related to business, sales, and product market and on the financial side. Both owners will sign a contract that will ensure an equal share of the profit and loss of funding resources for both owners. The company will set in motion its production processes with ten fit and trained people in the workforce who have experience in this kind of business. The organization of business will be planned and controlled with the following three functional areas: With the excellent production. With the administrative support. With the sales and marketing. The company will be headed by a General Manager who will be has experience in the catering business or restaurants and/or catering companies. The accountant who will be responsible for the financial side of business and also for the payment of staff. Accountant will be recruited from the general manager in which they will communicate constantly. The production staff will consist of at least four employees, headed by the head chef. Four full-time waiters are to be employed by the company and one full time driver. However, this department will likely be significantly expanded in the nearest future, as the increase in the number of orders will necessitate a greater number of employees in production and service. The Product In todays extremely competitive environment, it becomes progressively more difficult to differentiate one restaurant from another. That makes a difference in a restaurant is a different variety and quality products furthermore. The products of company will come from farmers in Greece. The idea of business is the presentation and love of the Greek dishes that are unknown in the region. The restaurants menu consisting of traditional Greek dishes, but also will contain a bit of international cuisine over wanting to attract all kind of customers were interested in buying an excellent dish. The environment of the work will be decorated with Greek products and will be painted in the colors of Greece. The customer will enjoy a meal in a friendly and pleasant environment. Employees have the best training available. Both employers have a degree and certification as a cook and waiter as well as experience in cooking and serving. The market Consistent with Australian Food News (Australian Food News, 2009) some of the most famous restaurant chains in the UK market have decided to start working with the food standards agency in order to be able to add the healthy eating on food choices. In a nation where the health harms caused by fast food increased, the require for a more healthy and balanced diet is increased (Food Standard Agency, 2008). As indicated in a report from CBS Evening News (2009) ,the danger of lower-cost foods which are high in salt, sugar and fat, and provides that the financial meltdown will make it worse. This is an strength and advantage for our company which used healthy products for the preparation of food. Target Group Students of University There are a total of 22,966 students attending in the University of Derby. 17,011 of them are students of higher. 2.697 are based in overseas institutions were offered and 3258 are students of secondary school. About 8% of students, about 1,300 students are studying in Buxton campus (National voice of students, 2010). Shoppers and tourists The businesses aimed to attract the people who visit the town or the people who pass their time in Buxton so as to make their purchases, shopping and holiday. The business wants to attract those people especially in the summer when the number of tourists increases because of the festivals and events there are in the summer and because of the weather. During the summer months, the local economy benefits from an influx of tourists who visit the surrounding Peak District region. Buxton also plays host to a number of summer festivals which draw large numbers of visitors too (The full wiki, 2010). Buxton residents The population of Buxton is approximately 21,000 and the business wants to attract as more people is possible (buxtononline, 2011). Marketing Strategy The aim of this stage is to present how the benefits of target market are offered from the produce and product. -Target groups à ¢Ã¢â€š ¬Ã‚ ¢ Students of the University of Derby/Buxton Campus: Undergraduate, Postgraduate and College Students à ¢Ã¢â€š ¬Ã‚ ¢ Shoppers and tourists -Goals To develop into the best restaurant in Buxton. To sell up to 100 dishes per day. To attract clients from other cities and regions of the U.K. To become the best choice for the clients. Risk Management Anxiety: The company must realize that something has gone wrong and worry about that. Requirement: It must state an obligation to solve the problem, and put down in minutely of what to do. Control: If the business is in the middle of a main crisis, the principal figures in the business must show that they are in manage of the circumstances and work with any responsible authorities to make sure that it will not happen again the same. (Atkins, D. et al, 2006). Competitors University Bistro, Bistro 44. Bistro is located on campus and is the fastest possible option available for the students. The Bistro offers a variety of choices to students, such as soups, pasta, meat and fish (University of Derby, 2010). The owners of the company as students of the university they know that many students protest about the quality and food prices. Students look forward to the best deals, the freshest quality and most wholesome and healthy food. Actually the business does not have any indirect competitor because it will be the only restaurant with Greek dishes and Greek live music. Promotion In order to promote the business the owners decided to present the food of the restaurant to the people. So they decided that the best way to success this is to promote the food in the road. They will cook some foods of restaurant menu and they will offer them to the people for free of charge. As well the business will be presented by the distribution of flyers. Also by the advertisement in the newspapers and magazines, in the TV, and on radio. Also the business foresees the creation of a website in internet which will include the presentation of the company and some details for the company. Swot Analysis -Strengths Is the first Greek restaurant in Buxton. The menu of the restaurant reflects demand for fresh, healthy and quality food. The restaurant is spotless and neat. The restaurant offer products which is not available somewhere else in the market. The business employs a well-trained staff. -Weaknesses The company has not done any research on clients to see if the company will be successful and profitable The restaurant is new and not recognized. Some clients have to travel further to enjoy the restaurant. -Opportunities The restaurant will promote Greek cuisine. Continue to develop business in other places. -Threats Competition Clients may wish to go in other restaurants to gratify their requirements. The case of food contamination. The operating expenses of the business will rise soon. (Davis, B. Et al, 2008). Pestle Analysis -Political Taxes. -Economic Low set up costs Franchising facilitates set ups The support from important suppliers. The growing market. Perceptible value for the money. Increase of available income. -Social Full of activity and hard lifestyles. Healthy Diet. Increase of vegetarians. -Technological Rhythm of technological change Ordering system via internet. -Legal Consumer laws and regulations Prohibition of smoking. -Environmental Recycling. Cost of transport and delivery of merchandises. David, P. (2007). References: Atkins, D., Bates, I. and Drennan, C. (2006) Reputational Risk: A question of trust. London, United Kingdom, Lessons Professional Publishing Limited. Australian Food News (2009) Fast Food chains work with the UK authorities to improve health of their food [Internet]. Available from: [Accessed: 6 November 2010]. Barrow Paul (2001) The Best-Laid Business Plans, How to write them, how to pitch. Virgin Publishing Ltd, London Biztree. (2009) Business in a Box [Internet]. Available from: [Accessed: 14 November 2010]. Buxton Online. (2011) Buxton Online [Internet]. Available from: [Accessed: 7 November 2010]. CBS Evening News (2009) As U.K. Slumps, Fast Food Business Booms [Internet]. Available from: [Accessed: 8 November 2010]. David, P. (2007) Marketing for Managers. (5th ed) Oxford, United Kingdom, Elsevier Ltd. Davis, B., Lockwood, A., Pantelidis, I. and Alcott, P. (2008) Food and Beverage Management. (4th ed) Oxford, United Kingdom, Elsevier Publications. Food Standard Agency (2008) Trends in portion sizes in the UK A preliminary review of published information [Internet]. Available from: [Accessed: 8 November 2010]. Haier Co., Ltd. (2008) Haier. [Internet]. Available from: [Accessed: 17 November 2010]. Innkeeper (2000) .Buxton tourist and travel information [Internet]. Available from: [Accessed: 5 November 2010]. National voice of students. (2010) NUS Student Experience Report [Internet]. Available from: [Accessed: 5 November 2010]. Peletico Ltd. ( 2007) Peletico. [Internet]. Available from : [Accessed: 17 November 2010]. The full wiki. (2010) Buxton: Reference [Internet]. Available from: [Accessed: 15 November 2010]. Universal Business Analytics Ltd. (2010) Management of Financier Flow. [Internet]. Available from: [Accessed: 27 November 2010]. University of Derby. (2010) Key figures. [Internet]. Available from: [Accessed: 12 November 2010]. Virardi. (2009) Virardi. [Internet]. Available from : [Accessed: 17 November 2010]. West Alan (1998) A Business Plan, Built a great plan for the growing business. (3rd ed) Financial Times Management, London Entrepreneur Media. (2009) Elements of A Business Plan-Business Description [Internet]. Available from: [Accessed: 20 November 2010]. Appendixes

Jezza The Great :: essays research papers

Jezza the great - Matt Posaner For many Carlton supports, the greatest player, bar non, in recent memory is Alex Jesaulenko. He represented all that was mercurial and brilliant in football; he was a player people came to watch because the unbelievable on a regular basis, and the unexpected 10 times a game. Like Mozart, the greatest composer of all time, Alex Jesaulenko was born of Ukrainian parents in the Austrian city of Salzburg. He came to Australia as a young boy and grew up in Canberra. There are a couple of persistent rumours about the young Jesaulenko, which lend an aura to his particular genius. The first is that the baby Jezza spent some time with his family in a refugee camp in or near Carlton in the late 1940's - Camp Pell, or a camp in the Exhibition Gardens. The second is that he did notevan pick up an Australian football until the ripe old age of 15. And the last one is that the Prime Minister of the day, Sir Robert Menzies, personally interviewed to have the Manuka-Eastlakes star and Commenwealth public servant transferred to Melbourne in time for the 1967 season. The rest of his story is truthful, and needs no embellishment - the soaring marks, such as the mark of the century in the 1970 grand final, the hundred goals in a season, the ability to command the ball to do his will, the way his body worked its way untouched through marauding packs, as if he could disappear under ground and worm his way up in a clear space. Not to mention the way he could bring the rest of the team into the play by direct involvement, or sheer example. When called upon to coach Carlton in 1978, he was being shirt-fronted by Collingwood's Stan Magro that inspired a win that season, and eventually the Flag in 1979. He left in loyalty to controversial President George Harris but was still blue through and through. When called upon in another crisis after the sacking of Robert Walls in 1989, he came and the magic worked again.

Open Silences in Shakespeares Measure for Measure :: Shakespeare Measure for Measure

How Productions from 1720 to 1929 Close Shakespeare's Open Silences in Measure for Measure Prologue: Playtext. Performance. and Open Silences In the Preface to his edition of Shakespeare's plays, and even as he vigorously defended the playwright against attacks by other neo-classical critics, Samuel Johnson nonetheless also offered his own survey of Shakespeare's weaknesses. Among the more well-known and provocative remarks is his assessment of the endings of the plays: It may be observed, that in many of his plays the latter part is evidently neglected. When he found himself near the end of his work, and in view of his reward, he shortened the labour, to snatch the profit. He therefore remits his efforts where he should most vigorously exert them, and his catastrophe is improbably produced or imperfectly represented. [Preface, in Sherbo VII: 71-72.] That Measure for Measure, in particular, was taken to be an example of Shakespeare's tendency to "remit his efforts," and that these failures created problems about the ending of the play symptomatic about larger issues of genre, is testified to by Charlotte Lennox's often quoted criticism: The comic Part of Measure for Measure is all Episode, and has not Dependence on the principal Subject, which even as Shakespeare has managed it has none of the Requisites of Comedy. Great and flagrant Crimes, such as those of Angelo, in Measure for Measure, are properly the Subject of Tragedy, the Design of which is to show the fatal Consequences of those Crimes and the Punishment that never fails to attend them. The light Follies of a Lucio may be exposed, ridiculed and corrected in Comedy. That Shakespeare made a wrong Choice of his Subject, since he was resolved to torture it into a Comedy, appears by the low Contrivance, absurd Intrique, and improbable Incidents he was obliged to introduce in order to bring about three or four Weddings instead of the one good Beheading, which was the Consequence naturally expected. [Lennox, I: 27, quoted in Vickers, 4: 112.] As we shall see, these strictures reappear in at least one edition of the play, namely in Francis Gentleman's commentary on the play in the 1773 edition (Bell's edition) examined below. In this presentation, and concentrating on the issues raised by Johnson, rather than the wider issues raised

Good Use in Writing :: Writers Education Teaching Essays

Good Use in Writing I have had extreme difficulty in determining what is good use in writing. My idea of good use, what it is based on, what it is good for, and how do you learn it or engage it in practice are difficult concepts for me to try and give answers to. I do not believe I am any position to judge writings and say what is and isnà ­t good use. However, I guess I am going to try, for there are some pretty serious issues at hand such as getting along with others, being taken seriously in language and writing, and issues of truth, value, social position, and understanding. This is some pretty serious stuff. If good use is that important then why am I having such a difficult time determining what it is? If good use weighs so heavily on such important issues as socializing with others, being taken seriously, and the ever important issues of truth, value, social position, and understanding, you would think I would know what good use is strictly on the basis of surviving in society. The rules of good use should flow onto the page as easily as the Ten Commandments come to a devout Christian. However, they do not come to me so easily, in fact I do not know the first place to begin in determining what good usage is. Does this mean I am a social banana who does not get along with anyone? That I am never taken seriously every time I speak or write? That I am a liar with no morals, no social position, or comprehension of anything? I should hope not. In my attempt to describe good usage I guess I will focus my efforts on one particular area. Good usage in writing for textbooks. I will focus my area of concern on one single written passage, explain why it is good usage, and then you are free to agree with me, cry out loud in disgust and outrage, or do whatever you want. Robert A. Hall said, "The merit of what a person says or does is not in anyway affected by the way in which they say or do it, provided it is the most efficient way of saying or doing it." The following passage was taken from the textbook Bowling by Charles Edgington: 7. Respect the Alley and its Equipment -- Make sure the pin setting machine has completed its cycle prior to your delivering the ball.

Mysteries of A Masterpiece of Sixteenth Century Graphic Art

Art historians and dentists alike have attempted over the centuries to unravel the mystery of Renaissance artist, Ambrosius Holbein’s Memento Mori Map. 1 The woodcut map was created as Holbein worked as an artist and illustrator for Sir Thomas More’s Utopia. This piece of early sixteenth century art was brought to the forefront of the masses when it was used by Peter Ackroyd in 1998. [Ackroyd P. The life of Thomas More. London: Chatto & Windus, 1998. ] The author used Holbein’s Map of Utopia on the back dust cover of his book Life of Thomas More,2 thus reviving a debate that had lasted for centuries concerning the unusual illustration.Holbein’s map includes an island, three sailing vessels and a land mass in the background among other objects. Upon closer inspection, the land mass is thought to be a human skull and the largest sailing vessel in the forefront is the skull’s teeth. This unusual â€Å"discovery† caused quite a stir both in the f ield of art and in the field of dentistry. While the masses viewed the sketch as an â€Å"intellectual puzzle†, it began to draw the attention of dentists who saw the sketch as an instructional guide in dental radiology.It heightened their perception of concealed anatomical structures in the human mouth. In 1516, Thomas More commissioned a young artist, Ambrosius Holbein,3 to illustrate his upcoming book, Utopia. Little did he know that five hundred years later, art historians and dentists alike would still be arguing about the hidden meanings of the woodcut sketch Holbein had produced. The hidden skull did not become apparent to viewers until a Third Edition of Thomas More’s book [Holbein, H. Painting prints and reception. Washington: National Gallery of Art. Yale Studies in the History of Art 60.] was published. There were no illustrations in the second edition but the Third Edition contained a much more complex version of the original sketch. Art Historians continue to argue about whether Holbein could have completed the later version, since it is apparent that it’s was a creator much more accomplished artist. The sketch of the Third Edition contains a number of similarities to the original but is a more complex work. In the sketch of the Third Edition, the teeth of the skull become much more apparent. The ribs and planking of the ship provide the so-called â€Å"teeth† of the grinning skull.The lower row of rectangles is not a third row of teeth, but instead the bony root prominences of the lower incisors and premolars. In Peter Ackroyd’s discussion4 of the sketch, he points out that the island as described in the book has the same dimensions as England, with the number of city states corresponding to the number of counties, plus London, which latter city the main town of the island resembles. These city states are reduced to six in the map. Another interesting enigma, these facts heightened the debate over Holbeinâ€℠¢s work. Was he a clever artist who enjoyed symbolism and trickery? Or was his original work a mere accident?It becomes very clear in his second â€Å"Map of Utopia†5 that he indeed had realized the intriguing controversy his first map had instigated. In this subsequent work, he takes the drawing to a deeply detailed level not seen in the original. The island itself has been transformed, with its visual wit bringing it up to the same standard as the text it accompanies. At a time when much of book illustration was religious or classical in theme, Ambrosius Holbein’s Utopia prints were distinguished by their modernity in showing living people. This fact also sets the sketch apart from others of its day. Another well-known fact adds to the controversy.Thomas More was known to be a clever sort of man who enjoyed word play. Did he originally commission Holbein to create this clever skull with â€Å"teeth†? Or was it merely a happy accident? Serendipity. It is intere sting to note that the Latin word for death is â€Å"mors†. In 1533 Hans Holbein, Ambrosius Holbein’s younger brother, also an accomplished artist, painted The Ambassadors. [Queen Anne House, 2A St. Andrews Street, Hertfordshire, SG141JA] This painting was commissioned by King Henry the Eighth of England. In this monumental painting, the king is presenting the Charter of Union to the barbers and surgeons at Bridewell Palace in 15406.In this painting, done fifteen or so years after his brother’s map, Hans plays with the laws of perspective by including an enigmatic anamorphic skull in the painting. A discussion ensued over this work as well. Was it a memento mori, a reminder of mortality? In 1997, a special exhibition in the National Gallery of London6 celebrated the completion of the cleaning and restoration of the â€Å"Ambassadors† painting. The exhibition was accompanied by an explanatory publication which reignited the debate over the Ambrosius Holbei n’s â€Å"Map of Utopia†.7 Considerable attention was paid to the skull in the foreground of The Ambassadors, the oblique slash of which is such a challenging enigma in the composition. To illustrate how the effect was achieved, both photographic and computer regenerated skull images of Hans’ anamorphic skull were shown. In the years that followed Ambrosius Holbein’s original and subsequent Map of Utopia, another â€Å"happy accident† occurred. The barbers and surgeons began to investigate the woodcut sketch for its value as an aid in dental radiology. Works Cited 1. Lupton J H. The Utopia of Thomas More in Latin and the English of Robynson’s translation of 1551.Oxford, 1895. 2. More C. The life of Sir Thomas More. pp 190–1. 1828. In Routh E M G Sir Thomas More and his friends. 1477–1535. p 109. London: Oxford University Press, 1934. 3. North J. The Ambassador’s secret. Holbein and the world of the Renaissance. London: H ambledon and London, 2002. 4. Ackroyd P. The life of Thomas More. London: Chatto & Windus, 1998. 5. Holbein, H. Painting prints and reception. Washington: National Gallery of Art. Yale Studies in the History of Art 60. 6. Young S. Annals of the barber surgeons. pp80–84. London: Blades East & Blades, 1890.

ACME and Omega case study Essay

1. Using the mechanistic and organic structure arguments develop in Chapter 2, compare and contrast the management styles at Acme and Omega. Acme’s managerial style consists of a mechanistic structure, while Omega’s managerial style is based on an organic structure. Acme’s vertical differentiation, which consists of four levels of control, constitutes the dispersion of authority between the organizational hierarchy levels and gears to give the organization more control over its projects and activities. Acme is highly centralized, managers of the top of the hierarchy have all the power to make most of the decisions for the company, and subordinates are expected to follow orders. Although, I think that Acme has established a high level of standardization and formalization, they experienced difficulty abiding to their own rules. Employees at Acme exercise individual specialization, where employees specialize in one specific area and work individually. 2. On the other hand, Omega is a decentralized organization,they appointed new president in that post. where managers and subordinates delegate important decisions about new organizational projects. Omega’s management believes in mutual adjustment, which is the practice of using judgment on problem solving and also creates an informal way of communicating with each other rather that using standardization or written rules. Joint specialization at Omega gives their employees and opportunity to work in teams and balance their actions to find the most effective and efficient way of accomplishing an assignment. Omega’s organic structure gives the employees more flexibility to innovative thinking, and creates a unity within the organization, where managers and employees share their knowledge and skills to achieve optimal performance. 3. Which firm should have won the final contract – Acme or Omega? Discuss. The paradoxical twins describes two organizations, Acme and Omega Electronics that are competing for the same contract for manufacturing a memory unit to be used in a photocopier. Omega, having an organic structure, wins the race because they are able to produce higher quality memory unit. On the other hand, Acme having mechanistic structure seems less competent and less reliable because of its low quality memory unit which they are unable to produce in time and some of its prototypes fail to work. Omega even corrects a design error in the original blueprint, which  improves product quality. But, both the company is given half the order, and they were encouraged to find the way to reduce the cost and Acme takes advantage of this opportunity to experiment to find ways to reduce its costs, whereas Omega does not. Finally Acme discovers the way to reduce the cost by 20% and they own the contract. Omega may have won the battle, but Acme has won the war because its mechanistic structure fosters a concern for technical efficiency and cost reduction in what is a routine manufacturing environment. In this particular case, Acme decides to run a â€Å"tight ship† (mechanistic structure) in order to increase productivity and efficiency, and to decrease costs. The advantage of this strategy is that they can undersell their competition (Omega) by selling at a lower cost. Omega, on the other hand, is nearly too opposite. They run a more organic structure, which relies heavily upon communication, delegation and teamwork. This strategy allows Omega to effectively compete with Acme by stressing reliability and by placing emphasis on quality. Omega’s decentralized, organic approach allowed for the building of prototypes 10 days faster than Acme, correction of errors, and a highly reliable prototype—much more reliable than Acme’s, which had a 10 percent failure rate. Omega was more effective when evaluated by these criteria, although Acme’s prices were lower than Omega’s because of that Acme won the competition and which was fair result in my opinion. Its mechanistic structure provided it with the management system and incentives needed to improve and reduce its manufacturing process, so that Acme won the final race over Omega. 4. What changes would you recommend to Acme and Omega if they are to survive in the future in this increasingly competitive industry? I wish to modify their organizational design. I think that in order for these two companies to survive they need to have a combination of organic and mechanistic structure. Once they do this change they will create a better organizational culture, which is the set of shared values and norms that controls organizational member’s interactions with each other . Although, Omega’s employees are working together, I think they have too much freedom. Therefore, I think that Omega’s management needs to be more formalize. Acme’s management are hightec pressure, they don’t give enough flexibility  to their employees. This is affecting Acme because there are missing some of the new ideas that their employees may have, and they are also forcing their workers to do the work which the top mangment as instructed. A combination of organic and mechanistic structure would give them better control and coordination of their employees and it will also motivate them and inspire a better behavior. Another recommendation for Acme Corporation would be to balance differentiation and integration For these two companies to survive and be successful I recommend that if they are going to combine organic and mechanistic structures then they should have a balance between centralization and decentralization. I think that all decision making shouldn’t be left entirely to employees or to management, rather it should be in between. Finally, these two companies should have a mixture of standardization and mutual understanding. Sometimes having too much of each may create an problem in corporate culture, therefore I would recommend to use a combination. Management needs pay close attention to make sure that their organizational design fits with the corporate culture and the organizational environment that they are trying to create.