Should An MNC Reduce Its Ethical Standards?

Should An MNC Reduce Its Ethical Standards? Ethical Standards are different for every country. Any business that goes international has to comply with the rules and regulation of that country in context to the norms of the business laws. This is where the need of ethics comes into picture where an MNC has to decide whether to follow its own ethics while continuing its business activities or to unethically compete with other business within the country. In order to arrive to a decision what a company should do we should first know the meanings of few terminologies as discussed below. What is the definition of MNC? MNC is a company which has expanded internationally with a reason to grow. MNC is built to achieve maximum wealth for the share holders. There are three key theories which justify existence of an MNC. Comparative advantage: Each country should use its comparative advantage to specialize in its production. It should also rely on other countries to meet other needs. Imperfect markets MNC should make use of the resources in imperfect market to specialize in their products. Imperfect markets make the factors of production immobile and it is the main cause of encouragement for the countries to specialize. The Product cycle Every MNC has a home country and the product cycle suggests that it should expand to foreign countries. MNC will not have any problem it its management is tempted to achieve the goal of maximizing the wealth of share holders, not of their own. MNC and International Competence International trade is the most common method by which firms conduct international business. Other methods are licensing, franchising, joint ventures, acquisitions of foreign firms, and formation of foreign subsidiaries. Each method has its margin of profit and needs little or more capital investment. For example, licensing and franchising require little capital investment but distribute some of the profit to other parties. While, acquisitions of foreign firms and formation of foreign subsidiaries require substantial capital investments but offer the potential for large returns. Ethical Standards and International Competence An MNC should reduce its Ethical Standards to compete internationally. The main reason being every foreign country has a different ethical standards and an MNC which does not reduce its own Ethical Standard in that county, those activities and standards will be viewed in an unethical way. This is a biggest disadvantage to an MNC and it will not be able to compete in that country. As discussed earlier, the MNCs expand internationally to grow, to maintain and earn profit, maximize wealth of the share holders. If it maintains a standard code of ethics according to the foreign country, it will be able to achieve these goals. If it is stuck to its own standard code of Ethics of the Home Country, then they will fail and diminish. If an MNC reduces it Ethical standards, then this will help it in unfavorable economic conditions of a particular country. It will also help it to stay afloat when the cash flow is affected and returns are decreased. The valuation model of the MNC shows that the MNC valuation is favorably affected when its foreign cash flows increase, the currencies dominating those cash inflows increase, or the MNCs equivalent rate of return decreases. Certain political conditions, pressure from upper management affect the valuation of an MNC. Below are other factors which play part for an MNC to grow internationally. Problems due to malfunction in management Exchange Rate movements Risks of investments in foreign companies Political Risks of a country Centralized or De-centralized approach in decision making Global Competition Joint Venture restrictions and limitations Impact of Global warming, terrorism and natural calamities Uncertainties in the market Let go deep down on each of the factors and find out how to reduce ethical standards in international competence. Agency Problems The main goal of any MNC is to strengthen the wealth of Share holders. If managers start fulfilling their own interests instead of those share holders then the MNC will be in trouble. The Ethical Standard should be able to balance the growth of management and public. Exchange Rate Movements A U.S. based firm operating in Asia and/or Europe has to balance its capital according to its sales and production in foreign country. The inflow and outflow of the cash and capital is affected by Exchange Rate decrease and increase. It is also a deciding factor for investment in the foreign countries. MNC should pay attention and be up to date with FOREX. Agency costs are larger for MNC than a domestic firm. Imperfect Markets If perfect market exists, then wages, prices, and interest rates will be similar for the countries. There will not be any major competitive areas of products. But, the markets are imperfect and that tend to increase subsidiaries in the foreign countries. International Opportunities Another factor of growth for an MNC is to buy foreign firms with similar interest, area and product. Licensing will also help grow the MNC. With a smaller investment or buying a stake in established company venture, gives opportunity to grow in foreign market. Internet Now a days wide use of Internet is one of the major factors for any MNC to be recognized globally. Marketing, advertising, blogs and networking are the key usages of internet. Internet will result in more international business and MNC is touching the World Wide Web. Risks There are various risks involved in investment, buying, licensing of foreign firms. Political risks also affect equally. Exchange rate movements, currency depreciation, stock market also affect the growth of the MNC. Every business has many types of risks, but overcoming them by finding alternatives in other areas is the way to go. Joint Venture Joint venture is a bigger factor of growth for an MNC. A major production company in one country can have a joint venture with a biggest supplier of the same or alike product in another country. Both of them can utilize the supply channels and monetary requirements and can grow together. A largest wine making company in U.S. can have a joint venture with a largest brewery in China. The U.S. company can leverage the brewerys established channels and distribute wine in a big number throughout the country. It can utilize brewery of Chinese company, make wine and sell it locally. In addition, the U.S. company provides information to the brewery about the wine market of U.S. Thus, joint venture enables growth of MNC in international business and competence. Global Competition An MNC having a standardized product in the market has to compete more internationally, because the product valuation, pricing, distribution and specifications are same all over the globe. That MNC should add more to its product categories or line of products to win the competition. It can also provide attractive benefits to firms and pricing or discounts to customers. Valuation of an MNC All the factors we discussed above can affect either positively or negatively to the value of an MNC. A U.S. based MNCs value can be declined due to political risk in the foreign country even though its cash flow is intact. Similarly, An Indian firms value will be increased due to demand and supply in the foreign country and exchange rate movements. In this case, its valuation depends on four factors: Expected cash flows in Rupees: This is the outward cash flows from the company to meet the needs of the foreign markets demand. It needs to flow the cash within itself to employ more people, buy more machinery for production and more logistics Expected cash flows in Dollars that are ultimately converted into Rupees This is inward cash flows as orders, profits and investments from the foreign country This also includes selling of any part of the company to foreign buyers The rate at which it can convert into Rupees This is FOREX, currency remittances which will be fluctuating according to global market Its weighted average cost of capital This includes acquisitions, mergers, sold-bought assets and stock values Wise things can be done to increase the value of the MNC, to sustain in the international competition. One of them would be to sell of a part of the foreign venture which is riskier. Other would be to buy licensing of the foreign firm which has same or lesser risk. MNC should be reducing its ethical standards on supply chain management as well. It can distribute its small amount of product or logistics thru a cheaper medium in foreign country rather than being responsible on itself. Markets with standardized currencies, like Euros, are a good choice in regards to this. A U.S. MNC can import a smaller amount of supply from a German company with lower rates in Euros and discontinue relations with U.S. supplier. Expansion in International Business An MNC which manufactures auto parts at competitive rates and provides little lesser wages to its employees can guarantee job security to them. But, it should also think of expansion to cheap manufacturing foreign countries. Let us discuss some factors on why to expand: The MNC should select the foreign country wisely, taking local competition in that country, production of the same auto parts in that country and general wages structure of that country. It is completely smart to expand in the country if there is not much competition in manufacturing parts and employing cheap labor. This is competitive advantage. The MNC can leverage the imperfect market theory here. It cannot export the labor from its home country, but can establish a subsidiary in the foreign country and meet it needs. With a strong establishment in the home country for the parts it manufactures, the MNC can easily expand and sustain in the foreign country. This is product cycle theory. The MNC must choose the low currency country to expand as it can build a strong base in the foreign country. E.g. Dollar-Peso, Euro-Dollar, Dollar-Rs. It will be the best time to expand when the currency of the foreign country is weakened. This way it can exchange more amounts in foreign currency and invest more. This can also create an Exchange Rate movement risk. The political risk is also involved in expansion as to how stable are the political conditions of the foreign country to grow with. The MNC can hire a consultant to decide whether it should expand or not and the consultant will look into above major factors when trying to give them the answer. Time and Uncertainties It has been observed that the US currency has weakened in the past few years with comparison to Australia, Mexico, etc. An MNC expanding its business in foreign countries can be affected by the foreign investors decisions because of these uncertainties. For example, Googleâ„ ¢ is expanding its services to China, African countries, Australia, etc. It has cash outflows associated with the creation, marketing, resources and administration of each of its services. It also generated cash inflows from selling space on its websites, advertising and media related applications. Each application has its own flow in different currency. Thus, the valuation of Googleâ„ ¢ is based on its conversion of each countrys currency to the Dollars. And if the investors see that the Dollar is weakening day by day, they can change their mind to other application providers on the web. Valuation of the MNC is affected by these factors. Conclusion An MNC has to reduce its ethical standards based on the above factors in various ways. This includes its employer-employee relationships, venture relationships, political and economical relationships and various local conditions of the home as well as the foreign country. When a U.S. based MNC competes in some countries, it may encounter some business norms there that are not allowed in the United States. When competing with a Government contract, firms might provide payoffs to the government officials who will make the decision. Yet, in the United States, a firm will sometimes take a client on an expensive golf outing or provide skybox tickets to events. This is no different than a payoff. If the payoffs are bigger in some of the foreign countries, then MNC can compete by matching the payoff provided by its competitors. Thus, reducing ethical standards on major factors, the MNC can sustain in international competition.

Olympic Sport Essay

Any athlete in training will always emphasize the importance of hard work during training and keeping a balanced nutritional diet in an effort to reach his maximum peak during competition. For an Olympic athlete in training, his diet will always spell the difference between winning or losing his sport. The reality of training for an Olympic sport such as swimming is that the speed of the swimmer does not depend on the food intake of the swimmer. What makes him skim through the water much faster is his physical training and physique. Proper diet and nutrition is what will give the body the energy to complete training sessions and become more efficient while performing the trained tasks. This is why a diet analysis is highly important when training a swimmer. The diet analysis is composed of two parts according to the usaswimming. org website: Diet analysis is comprised of two parts, needs and intake. Optimal nutrition is a matter of balance (nutrients-in versus nutrients-out). In other words, a swimmer’s intake of nutrients must match his/her output of nutrients during rest and exercise. In terms of energy (aka calories), if the needs are greater than the intake, the net result is weight loss. Conversely, if the needs are less than the intake, the net result is weight gain. Therefore, an athlete must always be focused on healthy eating and conscious of having to substitute lower fat foods for whole fat foods as well as reducing any snacks that will not contribute to keeping his energy level high. The athlete will best be served by loading up on whole grains, cereals, and legumes with at least 5 servings of fruits and vegetables in a day. His protein intake should be limited to lean meats, fish, and poultry. A typical diet for swimmer would be composed of the basic food groups but on a varying scale. For instance, Carbohydrates are used as the fuel of the body and therefore a swimmer should consume about 55-60% of his daily calories from grain and cereal products. Protein in the meantime builds the swimmers muscle tissues and other chemicals needed for body function. So protein intake would be recommended at about 15-20 % calories. Fat in the meantime is the transporter of the body. Swimmers will consume only 30% of fat calories while limiting the intake will result in a desirable fat consumption range for the athlete.

The Battle Over Beta Club Essay Samples and How to Win It

The Battle Over Beta Club Essay Samples and How to Win It The Benefits of Beta Club Essay Samples Your facts ought to be truthful. Unless you're an extremely talented baker, most likely the solution is no. Look through the list of topics with care and start making a mental collection of the evidence it is possible to use on topics you prefer. In this instance, choosing your topic plays a pivotal role in the accomplishment of your essay. Beta Club Essay Samples Ideas You see us as you wish to see us. The Breakfast Club is a quality instance of deviance for each and every character in the movie is deviant in some manner. Beta Club Essay Samples At this stage, you might just be thinking that you're finished with your essay, but you're not. Our purpose is to supply you with a professionally written essay on the subject you require. It may help you brainstorm some tips for your next scholarship essay. There's numerous essays completed by them. High school essays are structured very similarly no matter the topic and fantastic essay structure will enable you to compose a crystal clear essay that flows from 1 paragraph to the next. High school essay examples incorporate a number of short essays like narrative, persuasive and analytical. Some students find plenty of difficulty writing the essay, even if they have the ability to come across strong points. High school students must compose essays on a number of topics which at first may appear to have nothing in common. Bear in mind an argumentative essay is based more on facts rather than emotion. As a consequence, you get a fantastic deal of free time and completed homework. Regardless of the absence of scientific proof, there's a lot of anecdotal evidence to imply that these therapies do the job. In conclusion community service can have an assortment of positive outcomes. The One Thing to Do for Beta Club Essay Samples We're a company that specializes in professional writing service. The skills which we'll attempt to exhibit are attempting to embody the style and culture of the Betans. If you wish to get an essay online, our group of competent professionals is prepared to provide help. These templates are generally employed by clubs that are formed on the grounds of the profession of the members. If you are searching for a Minneapolis HVAC contractor, we would like to be part of making your home the cozy palace it deserves to be. Being a real leader gives me the chance to work in a team and consider my peers' ideas to generate our plans creative and pleasurable for everybody. State how much you would like to be part of the club. If you are in need of a new furnace to continue to keep your residence or business warm during our harsh Minnesota winters, we will be able to help you install the ideal unit for your circumstance. The only solution is for a relative or relative to take some time off to look after the elderly. After the mother's or child's life is in danger. A little one needs certain conditions as a way to live. A superb instance of a question a parent could be asked is the way the parent thinks her or his son or daughter will add to the school. Buy essays from us and you could always be certain of high-quality paper that could assure you quality grade. Thi s specific area can include as few as three paragraphs to as many as necessary to finish your assignment requirements. Today, there are various on-line sites which provide sample papers. You are able to read more on the subject of the different citation styles at this site. The simplest way to figure out the kind of an essay is to realize the writer's point of view. It may also sometimes be advisable to check at either side of the argument since it could be easier that you brainstorm ideas. When you're asked whether you agree (or disagree), you are able to look at either side of the argument if you'd like. Include the ideal evidence. Growing up is scary, but nevertheless, it may also be fun. Students should choose which position they need to take based upon the amount and caliber of the points they're ready to come up with to support their position. They have to write essays depending on the teacher's instructions or their desired style in writing.

Compare And Contrast Booker T. Dubois - 1296 Words

W.E.B Du Bois and Booker T. Washington were both fighting for the betterment of blacks, but accomplished it differently. W.E.B Du Bois believed in blacks getting a classical education and obtaining equality. While, Booker T. Washington wanted blacks to focus on vocational skills and give up their rights to be a success. W.E.B Du Bois disagreed because he believed that African Americans should not limit themselves to vocational labor but preferred that they educated themselves so they would be recognized as full citizens. They had both similarities and differences when it came to achieving education and equality for blacks. The childhoods of Du Bois and Washington could not be more different. They were born in different time periods which†¦show more content†¦He was finally able to attend school when he was freed and started working for Viola Ruffner, but only for an hour a day during the winter months. Du Bois and Washington had a goal of obtaining education for all blacks, but went about it differently. Washington wanted blacks to accept discrimination just to receive an education for vocational skills. That’s where Washington and Du Bois disagreed. Du Bois wanted to educate blacks so they can gain political and civil rights. Washington expanded his political views and believed that the blacks deserved political rights, but they should not try forcing to get them. Du Bois believed Washington’s idea of blacks becoming submissive for education would only benefit the whites. Before even helping blacks receive an education, Washington made sure he had one of his own. Washington was determined to get an education when he became aware that there was a school for all races in Virginia. Later, He attended Hampton Normal Agricultural Institute by working as a janitor until receiving a scholarship. Washington believed for blacks to obtain economic success they had to be compliant to whites. Washington also believed â€Å"that to get into a school house and study in this way would be about the same as getting into paradise† (Washington 4). This demonstrates his ideas in which education was a major requirement in order to succeed. One of Mr. Washington’s achievements was the â€Å"Atlanta Compromise†; the agreement wasShow MoreRelatedBooker T Dubois Compare And Contrast Essay1110 Words   |  5 PagesCompromise vs. Conflict The stark differences between Booker T Washington and W.E.B. DuBois and their approaches to racism Do you believe that slow and steady wins the race, or that when talking about civil rights the sooner the better? Booker T. Washington and W.E.B. DuBois were two very influential people who fought for the rights of African Americans in the late 1880’s to early 1900’s. Although both men were fighting for the same thing, their views on how to approach equality and their personalRead MoreCompare And Contrast Web Du Webois And Booker T. 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Du Bois (that he did not share with Washington) on the other, and the strategiesRead MoreThe Movement Of The Negro World1407 Words   |  6 PagesGarvey began traveling to various places to make money, while also discovering the conditions of the African diaspora throughout the world, from Kingston to Costa Rica to London to the United States. In London, Garvey notes of a time in which he read Booker T. Washington’s autobiography. Garvey stated that after reading â€Å"Up from Slavery† that his calling of being a race leader dawned upon him. He asked question where was the black man government, army, country; he could not find them and then â€Å"declaredRead MoreFoundations of Education Study Guide1751 Words   |  8 Pagesstates who had been the first to establish systems of common schools. †¢ Significance of the Kalamazoo Case of 1874? -First case in which local government had legal rights to tax citizens to support secondary education. †¢ Compare the ideas of The Committee of Ten vs. the Commission on the Reorganization of Secondary Education -Cof10: focused on goals outside the curriculum -CRSE: was seen as the instrument through which students would achieve theirRead MoreNot Without Laughter Study Guide9912 Words   |  40 PagesAnalysis, Context, and Criticism on Commonly Studied Works: Introduction, Author Biography, Plot Summary, Characters, Themes, Style, Historical Context, Critical Overview, Criticism and Critical Essays, Media Adaptations, Topics for Further Study, Compare Contrast, What Do I Read Next?, For Further Study, and Sources. 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West Central Queens Is A Middle Class Section Of The New...

Introduction West Central Queens community is a middle class section of the New York City borough of Queens. The Dutch and the German farmers who had sold their produce in Manhattan, NY once populated the Rego Park neighborhood. The name Rego Park comes from the real good construction company, this company was developed in the year of the mid 1920 s.West Central Queens population has 240,900 people, of the age 22-44 years (old middle aged). The race/ethnicity has a higher portion 60% of white people with the poverty being below level. Below is a pie chart that demonstrates the disparity between the two communities. There is a higher percentage of poverty in Queens. An area that I would like to explore is West Central Queens/Rego Park where I have been living for the past 3 years. My community is facing an issue on cancer such as women not getting screening to detect cancer at an early stage. Cancer has been rated below average such as breast cancer and cervical cancer. 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Encounter Part Ii†John Mcphee Free Essays

Encounter Part II–John Mcphee An Island introduces Charles Fraser and David Brower, the two on a tour of Cumberland Island, Georgia. Charles Fraser, a real estate developer in Hilton Head Island, South Carolina with David Brower, a conservationist, the leader of a conservation organization called Friends of the Earth, the most effective single person on the cutting edge of conservation in this country. Charles Fraser has obtained 3000 acres of undeveloped Cumberland Island and he has bent over backwards in previous developments to preserve as much of the original landscape as he could, but he considers all environmentalists to be â€Å"druids† who will sacrifice people to save trees. We will write a custom essay sample on Encounter Part Ii– John Mcphee or any similar topic only for you Order Now Fraser considers himself a true conservationist, and he will say that he thinks of most so-called conservationists as â€Å"preservationists† but that he prefers to call them â€Å"druid. † â€Å"Ancient druids used to sacrifice human beings under oak trees,† â€Å"Modern druids worship trees and sacrifice human beings to those tree. They want to save things they like, all for themselves. † Fraser’s characterization of environmentalists as modern druids who â€Å"worship trees and sacrifice human beings to those trees† provides the charge against Brower that forms the title of the book. Brower came to Georgia in order to stop Fraser’s plan to develop Cumberland Island. Actually, Brower agreed that it would be a better candidate if Fraser developed Cumberland Island with federal protection. I think that both of them have common sense. Even though Fraser is a businessman, but he cares about the environment. I agree with Brower and I believe everyone has their own responsibility to get involved with environmental issues. Developing and environmental issue are always conflicted in current. Maybe we will find out the best solution to solve this puzzle. According to environmental ethic, we have to protect our environment first. I agree with that it is priority to protect our Earth Planet. I think it might be human nature, we always realize our mistake after we actually have made the mistake. For example in China, compare to 20 years ago, China’s economy has been developing to a very higher level, but the environment condition is going down to the hell. China has been studying and learning economic developing from Western for a long while and realized that economy is the most important thing for the country. Most of Chinese think that America is the superpower state in the world because our super economy and technology. Previous Chinese President, Mr. Deng Xiaoping, after his economic reforms, the whole country’s living standard has been increased enormously. During developing, Chinese has realized that economic developing has destroyed the country’s environment. Now it is the payback time for Chinese, even they want to spend 10 times more it won’t get the nature environment back. I don’t think that all the Chinese realize how important environment it is. I agree with most of Brower s opinion and I like to protect our green earth, but I believe that developing is very important too. Some of Fraser’s thoughts are right to me. I would like to see the developing with good environmental protection. The best asset religion offers is the moral framework by which practitioners must abide. 3] Since many environmental problems have stemmed from human activity, it follows that religion might hold some solutions to mitigating destructive patterns. Buddhism idealizes and emphasizes interconnection,[4] thereby creating a mindset that creates a productive and cooperative relationship between humans and nature. That all actio ns are based on the premise of interconnection makes the Buddhist mindset affective in generating modesty, compassion, and balance among followers, which may ultimately mitigate the harm done to the environment. One benefit of the Buddhist interconnected mindset is the inevitable humility that ensues. Because humans are entwined with natural systems, damage done upon the Earth is also harm done to humans. [5] This realization is quite modifying to a human race that historically pillages the Earth for individual benefit. When rational humans minimize the split between humanity and nature and bridge the gaps,[3] only then will a mutual respect emerge in which all entities coexist rather than fight. Buddhism maintains that the reason for all suffering comes from attachment. [6] When release from the tight grasp humanity has on individuality and separateness occurs, then oneness and interconnection is realized. So rather than emphasizing winners and losers, humanity will understand its existence within others; this results in a modesty that ends egoic mind. Another benefit of Buddhist practice to the environment is the compassion that drives all thinking. [3] When humans realize that they are all onnected, harm done to another will never benefit the initiator. [5] Therefore, peaceful wishes for everyone and everything will ultimately benefit the initiator. Through accepting that the web of life is connected[4]—if one entity benefits, all benefit[5]—then the prevailing mindset encourages peaceful actions all the time. If everything depends on everything else, then only beneficial events will make life situations better. Acceptance of compassion takes training and pra ctice, which is also encouraged by Buddhist moral conduct in the form of mediation. This habitual striving for harmony and friendship among all beings creates a more perfect relationship between humanity and nature. Lastly, Buddhist mindset relies on taking the middle road or striving for balance. Siddhartha Gautama, the founder of Buddhism, spent his life searching for the outlet of human suffering, eventually concluding that a balance must be established between self-destruction and self-indulgence. [7] While modern, industrial humans emphasize economic and social aspects of life and lastly environmental aspects, this view is lopsided. 5] When human preferences are leveled with environmental preferences—giving a voice to natural systems as well as human systems—then can balance and harmony be realized. Therefore, using this idealized and disciplined framework that Buddhism has to offer can create lasting solutions to amending the broken relationship between humanity and nature. What ensues is an ethic, rather than a short-term policy or technological fix. [5] When never-ending consumption patterns cease for the betterment of the world as a whole, then all systems will harmoniously interact in a non-abusive way. 5] Without needing to adopt a new religion, just recognizing and accepting this mindset can help to heal the environmental injuries of the past. Buddhists today are involved in spreading environmental awareness. In a meeting with the U. S Ambassador to the Republic of India Timothy J. Roemer, the Dalai Lama urged the U. S to engage China on climate change in Tibet. [8] The Dalai Lama has also been part of a series on discussions organised by the Mind and Life Institute; a non profit organisation that specializes on the relationship between science and Buddhism. The talks were partly about ecology, ethics and interdependence and issues on global warming were brought up [9] According to some social science research, Christians and members of the Christian right are typically less concerned about issues of environmental responsibility than the general public. [1][2] Green Christianity is a broad field that encompasses Christian theological reflection on nature, Christian liturgical and spiritual practices centered on environmental issues, as well as Christian-based activism in the environmental movement. citation needed] Within the activism arena, green Christianity refers to a diverse group of Christians who emphasize the biblical or theological basis for protecting and celebrating the environment. [citation needed] The term indicates not a particular denomination, but a shared territory of concern. [citation needed] http://en. wikipedia. org/wiki/Religion_and_environmentalism#Religions_and_the_environment How to cite Encounter Part Ii– John Mcphee, Essay examples

Business Plan Impact of Nascent Entrepreneurs

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