Advantages And Disadvantages Of Kind Of Company †Free Samples

Question: Discuss about the Advantages And Disadvantages Of Kind Of Company. Answer: Introduction There are two types of business forms that can be setup; each form has their own share of advantages and disadvantages. While going forward with this decision of which type of company to choose, the company client should focus on few thing, which kind of business that it wants to operate, which kind of company will be suitable for that kind of business, the possible advantages and disadvantages of kind of company ,and whether it has the requester funds that might be needed to start such a company. After the client has figured out the required information, it can carry forward with the formation of the company. Below we will discuss the advantages and disadvantages of each form of company and what will be suitable for the client in the end. A company is the kind of legal entity that is formed as per the regulations under the Corporations Act 2001. A company has its own legal existence and also the identity of its shareholders must be different form its shareholders and directors. A co mpany has its own set of rules that must be followed and also if the company does not have its constitution, it goes by the "replaceable rules" of the Corporations Act 2001. A proprietary company is privately held company that can either be limited or unlimited. Such types of companies are present in Australia and South Africa. A proprietary company is the type of company that is defined under section 45A(1) of the Corporations Act 2001. Such type of companies is required to have not more than 50 members. These companies are also not allowed to raise funds from the public that is the main issue that is there with private companies, that they cannot raise money from the public. It cannot engage itself into any activities that can force them to raise money from the public by issuing a prospectus. A prospectus is a document that is issue by the company stating the terms of offer for shares, to raise money from the public, for their business operations. There are two types of proprietary companies, namely large proprietary company and small proprietary company. Both are differentiated on the basis of revenue earned and the level of more operating activities, and the total amount of fund raised by the company. A proprietary company is classified as small company if it meets the following requirement- The total assets of the company is less than $12.5 million, when the year ends The total number of employees in such of as small company should be less than 50 members at the end of the financial year. The overall gross revenue in the year end should be less than dollar 25 million In case of large proprietary companies, they are required to get their books of account audited and also to appoint an auditor for the same. The small companies are required to get their account audited and prepare their financial statements in the same manner, if they are required to do so as per the requirement of the Australian Securities and Investments Commission (ASIC), or in case of a foreign company , shareholders that are holding more than 5 present of the voting power requires to do so. In case of a proprietary company, the liability of the shareholder is restricted to the number of shares raised held by them, which means that they are liable just for that much amount of shares and not for anything beyond that. This is the situation in case of a limited company. When it comes to an unlimited proprietary company, in which there is a share capital, but the only difference is that the liability of the shareholders is not limited. (https://www.afigec.com/, 2017) The main advantages of forming a proprietary company is- The liability of the shareholders is limited; they are not liable for anything beyond their share capital. The company will keep continuing legally, even if the members cease to exists, which means that these companies will have a legal existence The shares must be easily transferable between the shareholders and the other persons. Also the company will have various tax benefits if the rate of personal income exceeds the rate of the company The main disadvantages with this kind of businesses are- They cannot raise money from the public, so in that way they have to lose on a lot of money that might be needed for the support of business activities. They are subjected to a lot of government regulations(Incorporator.com.au, 2017) Another form of company is the public company. This company have no limit on the number of shareholders and can raise money from the public, by issuing prospectus to the public for the issue of shares. The share capital can be divided into shares of particular denomination and then it can be given to the public, to raise money from the same. Most of the existent public companies were previously private companies that have chosen to go public. All the multinational companies are public companies. The main advantages of this kind of companies are- they have an access to the equity fund market ,a s well as the debt market to raise the requisite amount of fund, for their companies. They can also additional shares in the public to raise money after the initial offering. That is the kind of many advantages that a public companies has , the area of operation is also large and the total amount of money involved in such kind of companies is also large, so if the client is having so much funds , they can go ahead with such kind of companies. The main disadvantages with this kind of business are that there is a lot of control issues involved with the same. And also there are a lot of regulations that a company has to abide by the various government regulations. A public company must have to meet the various government regulations requirements and the various reporting requirements that the company must abide by. There is also lack of control, because there are so many shareholders, so it is not possible to establish authority in such type of company. (Asic.gov.au, 2017) There are various concerns that is there for establishing for a company in Australia- There must be permanent establishment of the client. The client needs to make correct allocation of profit The must be correct implication of the Goods Services Tax (GST) liability The companies would also be required to pay penalty in case they fail to comply with the following requirements of formation of accompany The company must also form the double taxation treaty rules There must be harmonizing policies that must be followed(Registeracompany.com.au, 2017) There are various regulations and other government disclosures that the company needs to comply with, that are the main requirements that the company must need to follow that. Conclusion The client needs to take decision based on the kind of business operations that the kind of company that they need. Both of the same have their own share of their advantages and disadvantages and on the basis of the same, the client needs to take the decision the kind of company it wants to establish. (www.nfplawyers.com.au, 2017) References: Asic.gov.au. (2017). How to start a company | ASIC - Australian Securities and Investments Commission. [online] Available at: https://asic.gov.au/for-business/starting-a-company/how-to-start-a-company/ [Accessed 27 May 2017]. Incorporator.com.au. (2017). Incorporator.com.au - Proprietary company compared with Public Company (Australia). [online] Available at: https://www.incorporator.com.au/l3/21_01_Proprietary_company_compared_with_Public_Company_Australia.asp [Accessed 27 May 2017]. www.nfplawyers.com.au. (2017). Checklist-to-establish-a-Public-Company-Limited-by-Guarantee. [online] Available at: https://www.nfplawyers.com.au/wp-content/uploads/2012/07/Checklist-to-establish-a-Public-Company-Limited-by-Guarantee.pdf [Accessed 27 May 2017]. Registeracompany.com.au. (2017). Company basics - Register a Company Australia. [online] Available at: https://www.registeracompany.com.au/faq/company-basics.cfm [Accessed 27 May 2017]. https://www.afigec.com/. (2017). company-formation-in-Australia. [online] Available at: https://www.afigec.com/data/en/pdf/142/company-formation-in-australia.pdf [Accessed 27 May 2017].

Introduction to Nanotechnology free essay sample

Generally nanotechnology deals with structures of the size 100 nanometers or smaller in at least one dimension, and involves developing materials or devices within that size. Nanotechnology is very diverse, ranging from extensions of conventional device physics to completely new approaches based upon molecular self-assembly, from developing new materials with dimensions on the nanoscale to investigating whether we can directly control matter on the atomic scale. There has been much debate on the future implications of nanotechnology. Nanotechnology has the potential to create many new materials and devices with a vast range of applications, such as in medicine, electronics and energy production. On the other hand, nanotechnology raises many of the same issues as with any introduction of new technology, including concerns about the toxicity and environmental impact of nanomaterials, and their potential effects on global economics, as well as speculation about various doomsday scenarios. These concerns have led to a debate among advocacy groups and governments on whether special regulation of nanotechnology is warranted. We will write a custom essay sample on Introduction to Nanotechnology or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The first use of the concepts found in nano-technology (but pre-dating use of that name) was in Theres Plenty of Room at the Bottom, a talk given by physicist Richard Feynman at an American Physical Society meeting at Caltech on December 29, 1959. Feynman described a process by which the ability to manipulate individual atoms and molecules might be developed, using one set of precise tools to build and operate another proportionally smaller set, and so on down to the needed scale. In the course of this, he noted, scaling issues would arise from the changing magnitude of various physical phenomena: gravity would become less important, surface tension and vander Waals attraction would become increasingly more significant, etc. Name – Swarnalipi Behera Regd. no – 0601211053 Roll. no – 106321 Branch – IT 1. Introduction Nanotechnology is an essentially modern scientific field that is constantly evolving as commercial and academic interest continues to increase and as new research is presented to the scientific community. The field’s simplest roots can be traced, albeit arguably, to 1959 but its primary development occurred in both the eighties and the early nineties. In addition to specific scientific achievements such as the invention of the STM, this early history is most importantly reflected in the initial vision of molecular manufacturing as it is outlined in three important works. Overall, an understanding of development and the criticism of this vision is integral for comprehending the realities and potential of nanotechnology today. Nanotechnology, shortened to nanotech, is the study of the controlling of matter on an atomic and molecular scale. Generally nanotechnology deals with structures of the size 100 nanometers or smaller in at least one dimension, and involves developing materials or devices within that size. Nanotechnology is very diverse, ranging from extensions of conventional device physics to completely new approaches based upon molecular self-assembly, from developing new materials with dimensions on the nanoscale to investigating whether we can directly control matter on the atomic scale. There has been much debate on the future implications of nanotechnology. Nanotechnology has the potential to create many new materials and devices with a vast range of applications, such as in medicine, electronics and energy production. On the other hand, nanotechnology raises many of the same issues as with any introduction of new technology, including concerns about the toxicity and environmental impact of nanomaterials, and their potential effects on global economics, as well as speculation about various doomsday scenarios. These concerns have led to a debate among advocacy groups and governments on whether special regulation of nanotechnology is warranted.

Free Essays on The End of the History

Fukuyama derived his argument from the writings of Kant, Hegel and a critical reading of Marx. This new phase represented the worldwide triumph of liberal democracy with the collapse of Communism. History has ended in the sense that there is no more room for large ideological battles. The present work is the first serious attempt to provide a rounded evaluation, which is sympathetic to Fukuyama's aims. It sets his thesis in the context of 'end of history' theories from Kant to Marx, acknowledges its affinities with different aspects of them, but argues that its metaphysical commitments are much more acceptable to the modern world than those of its predecessors. Like Fukuyama, its authors believe that philosophy of history can and should make a real difference to our understanding of our present social and political problems. Why the fuss? Writing at a moment when Communisim was everywhere in retreat, it was hardly surprising that Fukuyama should have proclaimed the end of the Cold War and â€Å"unabashed victory of economic and political liberalism.† Such proclamations were already legion. What commanded attention was something far more radical. Claiming to distinguish between â€Å"what is essential and what is contingent or accidental in world history,† Fukuyama wrote that â€Å"What we are witnessing is not just the end of the Cold War, or a passing of a particular period of postwar history, but the end of history as such: that is, the end point of mankind’s ideological evolution and the universalization of Western liberal democracy as the final form of human government. â€Å"The end of history as such,† â€Å"the evolution and the universalization of Western liberal democracy as the final form of human government†: these were the sorts of statements- along with Fukuyama’s professed conviction that â€Å"the ideal will govern the material world in the long run†- that rang the alarm. Some of the neg... Free Essays on The End of the History Free Essays on The End of the History Fukuyama derived his argument from the writings of Kant, Hegel and a critical reading of Marx. This new phase represented the worldwide triumph of liberal democracy with the collapse of Communism. History has ended in the sense that there is no more room for large ideological battles. The present work is the first serious attempt to provide a rounded evaluation, which is sympathetic to Fukuyama's aims. It sets his thesis in the context of 'end of history' theories from Kant to Marx, acknowledges its affinities with different aspects of them, but argues that its metaphysical commitments are much more acceptable to the modern world than those of its predecessors. Like Fukuyama, its authors believe that philosophy of history can and should make a real difference to our understanding of our present social and political problems. Why the fuss? Writing at a moment when Communisim was everywhere in retreat, it was hardly surprising that Fukuyama should have proclaimed the end of the Cold War and â€Å"unabashed victory of economic and political liberalism.† Such proclamations were already legion. What commanded attention was something far more radical. Claiming to distinguish between â€Å"what is essential and what is contingent or accidental in world history,† Fukuyama wrote that â€Å"What we are witnessing is not just the end of the Cold War, or a passing of a particular period of postwar history, but the end of history as such: that is, the end point of mankind’s ideological evolution and the universalization of Western liberal democracy as the final form of human government. â€Å"The end of history as such,† â€Å"the evolution and the universalization of Western liberal democracy as the final form of human government†: these were the sorts of statements- along with Fukuyama’s professed conviction that â€Å"the ideal will govern the material world in the long run†- that rang the alarm. Some of the neg...

Second paper Essay Example | Topics and Well Written Essays - 750 words

Second paper - Essay Example First, we can start our research using books, scholarly articles, and holding meetings with the children who committed crimes. The second way to carry out research is using internet-based material, which contains web pages, blogs, and websites of different organizations. The outcomes of both approaches towards the research, which include research based on personal efforts and internet based research, are not the same in all cases. There exist some differences in the outcomes because all websites are not very authentic and may contain incorrect facts regarding any specific issue. If we need to do internet-based research, we have look for the credibility of the websites, which we want to consult. There are three types of websites present on the internet, which include good websites, bad websites, and okay level websites. Good websites are those, which are supervised by some specific organizations or the government of a country. If the URL address of a website ends up in .gov or .State abbreviation, it is a good and reliable website. Bad websites are those, which do not have any authentic owner or source. In bad websites, the articles describe the facts based on different opinions of people, which are not considered authentic in research. Okay level websites are those, in which the articles are not very outdated, rather they have been published recently. Talking about credibility of the internet-based research, I personally feel that the research, which a researcher carries out using good websites, is a credible research because the data and information included in the government or state websites are accurate and do not contain any unverified material. Such websites can also influence a researcher’s initial claim by providing the researcher with fact based and updated information related to the research topic, which may be different from the researcher original perspective. Not all websites can change or influence a writer’s initial beliefs about an y research topic. Only those websites have the ability to make a good impact on a writer’s perceptions, which belong to authentic organizations and contain authentic information. One of the negative aspects of using internet as a research tool is that it decreases our abilities to consult books and to communicate with the people during research. When everything will be there on the internet, hardly any researcher will want to spend time on finding correct books and sources for the research. More and more people are focusing on the use of internet for research purposes because of the availability of ample information on various search engines but the credibility of that information is still a big question for the researchers. Although internet-based research saves time of the researchers, but it adversely affects the learning, reading, and thinking abilities of the researchers (Carr). Most of the time that we spend on the internet is a waste because it distracts our focus from research to other activities (Gibson). For example, if a person starts chatting, surfing, and emailing his or her friends while doing research, that person is actually wasting time. Internet based research provides us with a very less amount of credible information because most of the websites contain personal opinions, outdated papers, and attention distracting stuff. Some other negative aspects

Globalization and the World's poor Term Paper Example | Topics and Well Written Essays - 1250 words

Globalization and the World's poor - Term Paper Example Though globalization caused major positive changes in the economy, society and business, it has also been argued that globalization increased the numbers of poor worldwide. This piece of research paper presents a brief analysis on various theories of globalization and explains its impacts on world’s poor. Conceptual Framework and forces of Globalization Globalization is the process of social, political, cultural, economic and technological integration between countries. From the economic point of view, globalization refers to the increasing interdependence between national economies, business enterprises and markets. The term globalization refers to the intensification of world-wide social and economic relations that link distant countries or regions in a way that local happenings are shaped by event elsewhere. Salvatore (2005, p. 17) argued that globalization is inevitable because of that consumers around the world are increasingly demanding products and services to converge their requirements. Firms are to outsource parts and components from wherever in the world and they must invest their capital and technology wherever they are highly productive so that they can remain internationally competitive. The major four driving forces of globalization are detailed below: 1- Global Market Forces As and when enterprises globalize, they too become global customers and this increases the potential for global markets. Hill (2004, p. 6) noted that globalization of markets refers to the merging of historically distinct and isolated national markets in to one huge global market place. Due to globalization, people across the world have gained access to quality goods and services from aboard and companies were forced to seek materials, technology and labor from other countries. A company that goes global requires purchasing of required materials and therefore it becomes a customer of another company. The concept of globalization of market state that markets are global ized since enterprises that went global required to meet specific as well as common requirements of its customers and hence they too became customers of foreign markets. The underlying concept was that the tastes and preferences of people in different nations were to converge on some global norm and thereby helping to create a global market place. 2- Global Cost Forces Dornier, Ernst and Fender (1998, p. 77) emphasized that globalization has also been driven by the comparative cost advantage of some countries in various inputs to the manufacturing process. Raw-materials, labor and technology are major inputs and they are often cheaper in some countries as compared to that of some other countries. Reducing unit costs and achieve economies of scale is a management goal. Globalizing products and services is one means of achieving such economies of scale so that production costs can be reduced. 3- Technological Forces Technology changes almost everyday and this has tremendously been imp acting the pace and effectiveness of the business. A business that can use latest technology for manufacturing and marketing a particular product will be more able to meet customers’ requirements as their tastes and preferences are largely influenced by the technology advances. Using latest technology thus has become an integral part of global strategic approach for achieving sustainable

Additional Elements Of The Extended Marketing Mix Marketing Essay

Additional Elements Of The Extended Marketing Mix Marketing Essay This essay looks at the main elements of both the original and the extended marketing mix. This includes an introduction to the concept of the product life cycle, new product development, pricing strategies, distribution options and the promotion mix. Finally, the essay develops marketing mixes for Deans Leisure Centre to meet the needs of different target groups. Explain how products are developed to sustain competitive advantage. Sustainable competitive advantage is the focal point of a corporate strategy. It allows the maintenance and improvement of an enterprises competitive position in the market. It is an advantage that enables business to survive against its competition over a long period of time. A competitive advantage is an advantage over competitors gained by offering consumers greater value, either by means of lower prices or by providing greater benefits and service that justifies higher prices see (Appendix 1). When a firm sustains profits that exceed the average for its industry, the firm is said to possess a competitive advantage over its rivals. The goal of much of business strategy is to achieve a sustainable competitive advantage. Porter identified two basic types of competitive advantage and cost advantage. See (Appendix 2) When an organisation introduces a product into a market they must consider: who is the product aimed at, what benefit will customers expect, how does the firm plan to position the product within the market and what differential advantage will the product offer over their competitors. Kotler suggested that a product should be viewed in three levels: Core Product, Actual Product and Augmented product. See Deans product levels in (Appendix 3). However, for a product to be able to sustain competitive advantage the term New Product Development has been developed. This has been invented to check and develop the viability of a product which is new to a market. Deans think about term of new product development in order to sustain or build a competitive advantage. To do this Deans follow (NPD) processes, see (Appendix 4). Deans is the market leader in providing different products like gym, spa and hydrotherapy pool as there are no competitors in this sector. There good image makes the organisation more strong. Deans is providing good quality products with qualified staff, good atmosphere and hygienic environment. Motivation level of staff is very high which make the organisation more prosperous. They have enough resources for operating different activities of the organisation. They have created good image in customers mind another big strength and even a competitive advantage is the fact that they have a full service gym; Deans can market too many different segments that other gym cannot do. For example, Deans is open to all staffs, students and community much easier than other fitness centres because most of the people are not good financially so they can attract by their low prices with good quality gym services. They are providing high range of products comparatively with low prices. Explain how distribution is arranged to provide customer convenience. Distribution really plays a very important role in enhancing the convenience of the customers therefore; distribution system of a company can appear as a major competency for the company. There are four elements of marketing mix including product, price, promotion and place. The distribution comes under the place category and the companies develop proper distribution system because accessibility of the customers enhances the potential sales for a company. Two types of channel of distribution methods are available. Indirect distribution involves distributing product by the use of an intermediary. Direct distribution involves distributing direct from a manufacturer to the consumer. For example, Deans already has its location so will therefore look at the need and wants of its customers in this area, with staff and students of the college. If Deans does not outsource its distribution services then customers may not willing to get them. They must distribute the product to the user at the right place at the right time. Deans consider on its overall marketing objectives to be efficient and effective. Explain how prices are set to reflect an organisations objectives and market conditions. One of the aspects in the marketing mix is pricing. This part of the 7 Ps are the one creating revenue and which is also why it is important that an organisation chooses the correct price. The price is determined by the discovery of what the customer finds reasonable and this is also why a lot of organisations chooses to do researches of the consumers opinions before the product goes to the markets. Pricing is difficult and must reflect supply and demand relationship. Pricing a product too high or too low could mean a loss of sales for the organisation. Pricing is one of the most important elements of the Dean Gym marketing mix, as it is the only mix, which generates a turnover for the Deans. The gym can adopt a number of pricing strategies. The pricing strategies are based much on what objectives the company has set itself to achieve, see below: Penetration pricing: Here the organisation sets a low price to increase sales and market share. Once market share has been captured the firm may well then increase their price Skimming pricing: The organisation sets an initial high price and then slowly lowers the price to make the product available to a wider market. The objective is to skim profits of the market layer by layer. Competition pricing: Setting a price in comparison with competitors. Really a firm has three options and these are to price lower, price the same or price higher. Discount pricing: This involve offering a reduced price of certain types and groups of customers. Variable pricing: An organisation can very price by customer types, level and quality of service, times and days, seasons and so on. Cost-plus pricing: Here the firm add a percentage to costs as profit margin to come to their final pricing decisions. Convincing consumers to try a new product or service is one of the biggest challenges small businesses face. Marketing can be especially difficult for membership like gyms because consumers may be wary of committing to a recurring fee. Dean Gym use pricing tactic to help build a base of customers. As there are such competitors of Deans gym which could compete with the quality of gym produced at Deans, therefore the pricing strategy adopted by Deans gym is discount pricing. Dean uses free trials because some people simply will not spend money on a gym membership unless they can try it out first, which is why they give two months free membership and it can give customers the opportunity to see if a facility suits their needs. They offering low introductory rates because it is another tactic that Dean Gym can use to attract new customers. For example, Dean has monthly membership, where members pay monthly straight out of their bank account and with no contract. They also has annual adva nce, with this option customers pay for their membership for the year up front, but they will give them two months free. Deans offer 10% discounts for families and children. Families and children often go to the gym together, which can make gym membership a group decision. However, pricing strategies can improve Deans customer loyalty and ultimately lead to better membership numbers. Illustrate how promotional activity is integrated to achieve marketing objectives. These activities are performed in order to awake and aware the consumers about the product. Promotion being a feature of marketing mix consists of communication among the consumer and supplier of that product. Promotional activities are important factor because it tells the consumer about the product from different regions and it becomes difficult in selling a product if they are not being anticipated in the market through different promotional activities. The promotional mix consists: Advertising: Presentation of the product which is wanted to be promoted- this can be done by for example bill boards, banners or posters. The advantages are: advertising can inform people about different products and services, their utilities, cost and other requirements. The disadvantage is cost because advertising is more expansive. Personal Selling: This can be done by a company by training their sales team to know all need to know about the product so it can be sold by a presentation. Personal selling is one of the ways to keep good customers relationships, but this method is expensive. Sales promotion: Here it is communicated in a time limited way to increase consumer demand by for example contests, samples or trade shows. The advantage is that sales promotion can help companies to provide right information to customers, also it encourage repeat purchases and customer loyalty, but the advantages are that it increase price sensitivity and it is generally for a short duration Public relations: This can be paid or non paid stimulations of a product. This can be a product represented in for example magazines, TV or radio etc. PR is inexpensiveness of the cost, but it is hard to predict about the responses and it increase the risk. Direct marketing: This aspect is a way to reach the consumers directly, such as fliers or street advertising. It allow to target specific customer and it can be measureable, but it is hard to get as immediate of an impact when using direct marketing and it can be quite expansive. For example, for the promotion Deans adopt advertisement, public relations and internet marketing. Analyse the additional elements of the extended marketing mix Marketing mix has three additional elements: People, Process and Physical Evidence People: This refers to the people who are in direct contact with the customer such as staff. One of the crucial parts in selling a product is the staff and its service as lot of people rely on a good service before buying a product. The employees should have the appropriate interpersonal skills, attitude and knowledge of the product. Some companies make sure to train their staff to ensure the service the customer is seeking for- this can be done by guidelines of selling or training schools in selling. For example, the employees in Dean Gym have a standard uniform and Dean specially focuses on friendly and prompt service to its customers from their employees. The employees are part time workers and full time workers. Process: This concerns the process of delivering a service. It is crucial that the company delivers as easy as possible and completing a sale without any unnecessary steps. Dean has a number of processes involved in making marketing effective in organisation e.g. processes for handling customer complaints, processes for identifying customer needs and requirements, processes for handling equipments. Physical evidence: This part of the mix is an essential part where consumers will base their decisions based on the service which is partly visible. This could be a members card, a friendly environment. Dean gym focuses on clean and hygienic interiors of its outlets and at the same time the interiors are attractive and the gym maintains a proper etiquette at its joints. The design, furnishing, layout and decoration of the gym chain as well as the appearance and attitudes of its employees will influence customer perceptions of the service quality and experiences. Plan marketing mixes for two different segments in consumer markets. Deans is focusing on target market; when it markets a product it mainly consider on demographic and physiographic segmentations; where demographic segment before it markets it identify the consumer groups in: age, sex, education, race, and occupation, and in physiographic it divides the market into different levels as: Lower class, middle class, and upper class to identify their customers, Where Deans has planned to market a new product for a different segmentation so it needs to identify the consumers. After the segmentation Deans consider on the marketing mix its also called as the 4ps. Deans gym 4Ps: Product: Deans gym offers a variety of fitness equipment for both strength training and cardio. The gym has a state of the art fitness suite equipped with the latest Technogym Visio Web cardiovascular equipment. This allows customer to browse the web, watch television, read articles or update social network account whilst working out. If you prefer a group exercise programme timetable is available. See (Appendix 5) Price: Deans offer two different price sections for the gym, one for students and staff of the college at a reduced rate but with limited hours, these hours are designed to work around students courses and another that student/staff of the college can use over more hours and use more of the facilities. The gym then offers a scheme to the public of Bronze/Silver/Gold/Platinum. See membership options and price list in (Appendix 6) Place: Deans Sport and leisure is located at Knights Building, Lincoln College. This is a prime location for Lincoln college students and staffs to be target as an expansion of their current market share as it is within the college. See (Appendix 7) Promotion: Deans is currently using public relations and internet marketing, where they advertise through radio, magazine, news paper, and social network like Facebook, Tweeter, and their official website. Deans spa 4Ps: Product: Deans Spa is part of membership, where they offer spa pool with loungers, sauna, steam room, tropical shower, ice shower, foot spa. Additional packages include: Spa packages, dermalogica facials, massage, body treatments, hands and feet, salon. See (Appendix 8) Price: Deans offer three different price sections for the spa: senior spa therapist, spa therapist and student therapist. See (Appendix 9) Place: Deans spa is located at Deans Building, Lincoln College. Same as Deans gym students and staffs are their target market. Promotion: same as the gym, Deans spa also use radio, magazine, news paper, and social network and their official website to advertise their products. Illustrate differences in marketing products and services to businesses rather than consumers There are some characteristics to a service such as: lack of ownership, tangibility, intangibility and inseparability. Each of these needs to be taken into account when marketing a service. Customers cannot own and store a service like they can store a product. Services are used for a period of time. For example Deans gym have membership option where customers pay for option to use monthly and annually. A product is something which is tangible where as a service is intangible. A product is much easier than the service because after marketing and selling a product there is something tangible to be seen by the customer for his/her satisfaction but in services he/she cannot because its intangible. For example, Deans gym provides a variety of products all related to the health, well being, and self-esteem of its members. Their tangible products include personal weight control, weight room, cardio, tanning, personal training, and a variety of drinks, supplements, and health items that all may be purchased at the Gym, but their intangible product is their services. Services cannot be separated from service providers. A product can be taken away from the producer but a service cannot be taken away as it involves the service provider. For example Deans provide group exercise such as strength training, cardio and dancing classes. On other hand, the marketer needs to analyse the major demand of customers in a specific market in order to find out a product that can respond the market demand. Firstly, marketers have to improve products to meet customers demand as much as possible. Secondly, the price is an important factor in product marketing because of the price must be set to match with the purchasing power of a target group. Thirdly, the place of product marketing refers to distribution channels to deliver and sell the product to customers. Lastly, the marketer also needs to create the promotion on the product in order to persuade customers and motivate the sale in a short term. Conclusion: For a company to be able to implement their marketing concept successfully the marketing mix is essential. After applying the three additional Ps it has enables the present service standard to be reached. This way a company will reach a bigger customer satisfaction as they reach their customers better in what they want and need to the easiest way for them to purchase the product. It is important when going into a different market that the companys marketing focuses on all of the different aspects in the tools of the marketing umbrella.

Mastery Learning

Teaching involves numerous different factors and aspects of learning. Teaching employs different models and approaches in an effort to find the best way to address the needs of students. One such model or appraoch used by teachers is mastery learning. The goal of this paper is to achieve a better understanding of mastery learning through a review of past literature. How is mastery learning defined by the literature? What are the benefits of using mastery learning? How is mastery learning applied in higher education? Answers to these questions will be identified through a careful reading of the information presented in previously published articles regarding mastery learning. Mastery learning, initially, is a theory about teaching and learning. It emphasizes the belief that any educator can aid almost all students to learn excellently. By the term ‘excellently’, what is indicated is the maximum potential of the individual to learn. No matter the inherent differences in characteristics between students, mastery learning asserts that teachers can teach these students to learn in exactly the same way. (Block, 1980) The term mastery learning is also often used to refer to a set of individualized teaching practices that are consistent in their effectiveness to aid almost all students to learn excellently. These practices are divided into group-based and individual-based or teacher-paced and student-paced practices. In the group-based or teacher-paced mastery learning, the teacher is the one who determines the direction and flow the learning process. In the individual-based or student-paced practices, it is the student who determines the direction and flow of the learning process. (Block, 1980) Both types of practices have different developmental backgrounds but both have the same goal, which is to be able to teach excellent learning skills. A more operational definition of mastery learning can be acquired through a look into its mechanisms. According to Ironsmith & Eppler (2007), mastery learning involves a paradigm shift with regard to the definition of failure in education. Failure is not related to the results of an assessment of the student’s ability. Failure, in mastery learning, is related to the feedback a student gets about his or her progress. Mastery learning involves the use of feedback by students in order to supplement any deficiencies in their learning progress. The feedback serves as a director of what material needs to be learned more and also serves to increase the strength of the contingency between the student’s efforts and his or her academic success. The benefits of mastery learning as an optimistic theory are clear. By teaching students to be able to learn excellently, their chances of success in life become higher. The social and individual rewards are great both for the student and the teacher. (Block, 1980) The student is able to acquire skills and abilities that will aid him or her in future undertakings outside the school setting. Students of mastery learning also become motivated to continue the learning process in their lives because of the rewards – either material or non-material – that they receive from their acquired ability to learn excellently. On more palpable benefits, the study by Ironsmith & Eppler (2007) have shown that final exam scores were higher for students in mastery learning classes as opposed to those in normal lecture classes. Also, the benefits were greater for those students with the lowest grade point averages (GPA’s). The benefits came about as a result of the increased mastery of the material discussed. Endorsement to achievement goals that were more adaptive for the students also contributed to the attainment of the benefits. (Ironsmith & Eppler, 2007) Mastery learning also has benefits for the educational system as well as for the educators applying its principles. With the success of the application of mastery learning, teachers are rewarded with the knowledge that their students succeeded. Also, career rewards, praise and acknowledgments from colleagues as well as gratitude from the students themselves are to be expected. These will also serve as rewarding factors for the individual. The benefit to be derived by the educational system from these is the fact that good and accomplished teachers will be retained. Teachers will be inclined to continue teaching as a result of the intrinsic and extrinsic rewards received from the application of mastery learning. (Block, 1980) The effects and benefits to be derived from mastery learning are long term thus indicating a more profound impact on the lives of those who apply it. In higher education students, learning approaches such as the Personalized System of Instruction (PSI) (Ironsmith & Eppler, 2007) are applied. These are based on the concepts of mastery learning albeit posing a more structured and organized design. A general PSI class would involve learning modules, self-tests, mastery tests, and feedback from educators. The mechanism for mastery learning in higher education, however, remains the same. It still involves the concepts of approaching instruction systematically, of being proactive instead of reactive, of managing the learning and not the learners, of matching the instruction to the outcomes as well as to the learners, and the like. (Block, 1980) Over all, mastery learning is still in the minority of applied models of teaching. However, its use in classrooms is continuously increasing. (Block, 1980) The benefits to be reaped from application of mastery learning in the educational system are assessed to be great. Also, the principles on which it is founded are sound and, in fact, seem to be a more adaptive way to view the educational system. Investigations into the viability of mastery learning as a learning theory should be continued. Also, more schools should begin to introduce the system into their classrooms. References Block, J. H. (1980). Promoting excellence through mastery learning. Theory Into Practice, 19(1), 66-74 Ironsmith, M., & Eppler, M. A. (2007). Mastery learning benefits low-aptitude students.