...Cari Smith Professor Brown Entrepreneurship June 10, 2015 Exit Strategy For Carolyn’s Creations I chose a management or employee buyout to ensure the smooth continuation of the business. With a transfer of management, and over time the potential for ownership, I believe I will offer a great opportunity for buyout. Especially when it’s to people who have been working for me they will have an understanding of the company and its potential, and they will know my clients, suppliers, and will also know the business’s customers. In the floral business your customers are extremely important for repeat business and for the word of mouth referrals. Employees that become owners have an increase in their motivation, sense of belonging, and loyalty. Not only do they keep their jobs, but they become autonomous, which is one of the big advantages to being an entrepreneur. They will have power to influence the growth of the company as they see fit. They also see the opportunity to increase their personal wealth by incorporating some of their own ideas and dreams. Having the business growth opportunities first in their thoughts is likely to manifest in increased productivity and performance. An employee will know the company’s potential and they are usually well acquainted with the target market the business pursues. They might even be able to be innovative with more confidence because of their knowledge of the business. Specifically these types of new managers and owners are usually better...
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...Office of Environmental Management Corporate Projects Initiative January 2003 Definition of EM Completion and DOE Site Closure This fact sheet defines critical points in the cleanup process, specifies where the Office of Environmental Management (EM) programmatic responsibility ends, and clarifies the responsibilities of other Program Secretarial Offices managing a site after EM’s mission is complete. Accordingly, these definitions serve as the framework for developing or revising strategic plans, site baselines, and implementation plans. Environmental Management (Cleanup) includes those activities necessary to evaluate and mitigate a release or threat of release of a hazardous substance that may pose a risk to human health or the environment. Cleanup activities may include source term remediation, facility disposition, ground water response measures, surface water response measures, and legacy waste management (e.g., transuranic and orphan waste disposition). The term cleanup is used interchangeably with the terms remedial action, removal action, response action, and corrective action. Response Action Completion occurs when a specific response attains its response action objective(s)/cleanup criteria such that no land use restrictions remain (e.g., contaminant concentrations reduced to acceptable, healthbased levels in ground water). EM Completion occurs when: 1) all required short-term response activities at a specific site are complete (e.g., soil excavation, cap construction...
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...Exit Strategy for Xpressionz Hair Salon, Spa, & Boutique, LLC. I am the owner and operator of Xpressionz Hair Salon, Spa & Boutique and also lead Colorist/Stylist and my Husband is the manager. The Salon has been in business for 10 years, has a loyal clientele, and is very profitable. If we leave, our way of doing business as well as customer service and operational efficiencies go with us. There isn’t much left in the business except the name. However, if the we begin planning for a sale years before, we can make the business much more valuable to a potential buyer. For instance, as a stylist, I can train one or two assistant colorist, and teach them his secret formulas and coloring/styling techniques. My husband, who manages, can hire one or two assistants and train them. We can develop procedure manuals (or at least define what the procedures should be). She can also introduce her protégée’s to regular clients so they know who they are. After a few years, a buyer could easily take over the business and keep it going as long as he is able to keep the now well-trained staff on board. By following the above steps, we have significantly increased the value of their business. Since we have expanding a lot, and larger businesses have much more at stake, the best approach is to postpone the sale for a few years, and gradually put some key elements in place to maximize the value of the company. Basically anything that increases transparency, efficiency, revenue or profitability...
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...export and new trade agreements with other countries. However once companies have settle, they must have an exit strategy plan set in motion in case the business don’t succeed. Diversification is the best exit strategy that will suit Harley Davidson in its new venture. HD can gain vital knowledge from Ethiopia and apply it to produce much needed products that can help overcome the existing odds for the company. In addition the company can also diverse in expanding its business to other areas; diversification is suggested for the company in this specific country because the company and the products are new to the market and previous information shows that low cost products work in Ethiopia. Nonetheless Harley Davidson can gain profits in others sectors if develop. However if Harley Davidson decides that diversification is not the best exit strategy and they want to close the business and take its losses, Liquidation of Assets would be the exit strategy suggested instead; only if no debt is pending. This will allow the company to find a suitable buyer willing to buy all the products at a reasonable price, remember that HD products are worldwide known quality products that most men wish to have. Nonetheless in liquidation negotiations not much money is gained. Shutting down the company will be another option that will suit Harley Davidson as well. This is a common exit strategy and often use by many business owners whom have been struggling with their business; however, the reasons...
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...JOMO KENYATTA UNIVERSITY OF AGRICULTURE AND TECHNOLOGY [pic] UNIT: PROJECT UNIT CODE: BIT 2303 COURSE: BSC INFORMATION TECHOLOGY NAME: OKOTH DORINE ATIENO JKUAT NO: BIT- 008- 0345/2006 PROJECT TITLE: KASARANI SPORTS CLUB DECLARATION I declare that this project is my own idea and my own work. It has not been presented by any other person before and has been developed through my own creation, time and effort. No one else is authorized to use it without my permission. Name: ………………………………… Signature: ……………………………… Date: ……………………………… ACKNOWLEDGEMENT I would like to express my special gratitude first and foremost to God Almighty for giving me his guidance, grace, wisdom, strength and help throughout the project. Next, I would also like to thank my parents and family for their financial and moral support. I would also like to thank my friends and colleagues especially Mary Mutuku and Frank Omondi for their support throughout the project. I would also like to express my sincere gratitude to the staff at Kasarani Sports Club without whom this project would not have been possible. DEDICATION I dedicate my project to my parents for their love and support, and to my brothers and sisters for the support TABLE OF CONTENTS ...
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...Quantitative Easing: Entrance and Exit Strategies by Alan S. Blinder, Princeton University CEPS Working Paper No. 204 March 2010 Acknowledgements: Paper prepared for the Homer Jones Memorial Lecture at the Federal Reserve Bank of St. Louis, April 1, 2010. I am grateful to Gauti Eggertsson, Todd Keister, Jamie McAndrews, Paul Mizen, John Taylor, Alexander Wolman, and Michael Woodford for extremely useful comments on an earlier draft, and to Princeton’s Center for Economic Policy Studies for research support. Apparently, it can happen here. On December 16, 2008, the Federal Open Market Committee (FOMC), in an effort to fight what was shaping up to be the worst recession since 1937, reduced the federal funds rate to nearly zero. 1 From then on, with all of its conventional ammunition spent, the Federal Reserve was squarely in the brave new world of quantitative easing. Chairman Ben Bernanke tried to call the Fed’s new policies “credit easing,” probably to differentiate them from what the Bank of Japan had done earlier in the decade, but the label did not stick. 2 Roughly speaking, quantitative easing refers to changes in the composition and/or size of the central bank’s balance sheet that are designed to ease liquidity and/or credit conditions. Presumably, reversing these policies constitutes “quantitative tightening,” but nobody seems to use that terminology. The discussion refers instead to the “exit strategy,” indicating that quantitative easing (“QE”) is looked upon as...
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...potential opportunities for your venture, particularly important if you are entering this industry as a new player. It can also be a critical step to better differentiate yourself from others that offer similar products and services. One of the most respected models to assist with this analysis is Porter’s Five Forces Model. This model, created by Michael E. Porter and described in the book “Competitive Strategy: Techniques for Analyzing Industries and Competitors,” has proven to be a useful tool for both business and marketing-based planning. Background The pure competition model does not present a viable tool to assess an industry. Porter’s Five Forces attempts to realistically assess potential levels of profitability, opportunity and risk based on five key factors within an industry. This model may be used as a tool to better develop a strategic advantage over competing firms within an industry in a competitive and healthy environment. It identifies five forces that determine the long-run profitability of a market or market segment. * Suppliers * Buyers * Entry/Exit Barriers * Substitutes * Rivalry Supplier power * Supplier concentration * Importance of volume to supplier * Differentiation of inputs * Impact of inputs on cost or differentiation * Switching costs of firms in the industry * Presence of substitute inputs * Threat of forward integration * Cost relative to total purchases in industry Buyer power * Bargaining...
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...INDIVIDUAL ASSIGNMENT: EXIT INTERVIEWS TABLE OF CONTENTS 1. INTRODUCTION………………………………………………………………PAGE 3 2. CORRECT TIMMING OF THE INTERVIEW……………………………..PAGE 4 3. WHEN & HOW TO USE THE INFORMATION……………………………PAGE 6 4. STEPS TO AN EFFECTIVE EXIT INTERVIEW…………………………..PAGE 7 5. CONCLUSION…………………………………………………………………PAGE 9 6. REFERENCES…………………………………………………………………PAGE 10 INTRODUCTION Exit interviews are conducted with departing employees, just before they leave. Participation in exit interviews by the employee is voluntary but, the primary aim of the exit interview is to learn reasons for the person's departure, on the basis that the information will be a helpful driver for organizational improvement. Exit interviews are also an opportunity for the Organization to enable transfer of knowledge and experience from the departing employee to a successor or replacement, or even to brief a team on current projects and issues. Good exit interviews should also yield useful information about the University as an employer, to assess and improve all aspects of the working environment, culture, processes and systems, management and development, etc. Exit interviews are a unique opportunity to survey and analyze the opinions of departing employees, who generally are more forthcoming, constructive and objective than staff still in post. From the departing employee perspective, an exit interview is a chance to give some constructive feedback. Exit interviews are an extremely...
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...University of Wolverhampton Staff Exit Procedure Staff Exit Procedure Introduction This document is intended to provide guidance to line managers for the actions required and issues to consider when a member of staff leaves the University. These arrangements apply to all staff-type accounts, including affiliates, temporary staff and work placements. Activities can broadly be split into five categories: Admin Procedures & Forms Planning Complete paperwork to ensure correct administration on Payroll and HR systems To think about the impact that the member of staff’s departure will have on departmental operations and plan accordingly Important physical documents and files are identified and handed over to a nominated individual. Ensure data stored electronically is weeded and retained if appropriate. This includes arrangement for email and the member of staff’s IT account Ensure any University property assigned to the member of staff is recovered Documents IT Account – (Data Storage & Email) Property 1. Admin Procedures & Forms 1.1 If the member of staff is leaving the university, upon receipt of written notice, a PERS025 Termination form must be completed and passed to the Dean/Head of School/Service before being forwarded to the Personnel Department. 1.2 If available, the original PERS039 form created when the member of staff commenced employment should be obtained from the member of staff’s file or a new (revised 2009) form created. The PERS039 form should be...
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...industry for new entrants. However, this course of action causes market to lose competition and some might even be illegal. Not all industries and not all companies respond in the same way, the strength and aggression of the response varies accordingly to the current market trends, conditions and consumer behaviour. In this essay, we will discuss on several strategic actions taken by the incumbent firms to create, maintain or increase deterrence on new and potential entrants and thereafter, analyzing the credibility of each action. There are many types of barriers to entry into a market, including factors like high capital costs, differentiated product, costs of switching, distribution network, economies of scale, suppliers, barriers to exit and legal and government created barriers. High capital cost: In an industry that demands a larger capital investment during the starting up process, it will act as a barrier to entry for most potential entrants unless those who have a competitively high initial capital investment to start. Differentiated product: A highly differentiated product compared to the available ones in the market within the same industry would allow the incumbent firm enjoy a strong brand loyalty by the consumers. New entrants would have to invest a lot of capital to create a...
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...THE EXTERNAL AND INTERNAL ENVIRONMENTS If managers in the airline industry are going to run their organizations efficiently, they have to understand the external environment confronting them, anticipate how changes in the environment might affect the profitability of their airlines, and take appropriate actions. These actions might include reducing capacity as demand declines, purchasing more fuel-efficient jets, avoiding price wars with low-cost airlines if possible, and reducing labor costs. At the same time the ability of managers to take such actions is shaped by the airlines’ internal environment. For example, some long-established airlines, such as United, have powerful labor unions that have resisted attempts by managers to cut pay for pilots, flight attendants, and ground staff, or to introduce flexible work practices that boost labor productivity. This constraint has kept costs high and made it more difficult for managers to do what is required to make the airline profitable. The situation confronting managers in the airline industry, while dramatic, is not unique. The work of all managers is affected by two main environments: the external environment and the internal environment. The external environment constitutes everything outside a firm that might affect the ability of the enterprise to attain its goals. The external environment itself can be subdivided into two main components. There is the industry or taskenvironment confronting the organization, which typically...
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...proximity to us has had an impact on our staffing, both in our physician and nursing populations. What are the reasons for this shift? What incentives are being offered that are not being offered at our facility? Why has the overall morale of our facility dropped significantly over that past 12 months? These are the type of questions we will explore after specific strategic steps have been implemented. How we respond as a team to these issues will have a major impact on our future. The transformation that is currently underway for our facility which includes the professional healthcare staffing is a challenge for all of leadership to address. We cannot stop these changes from taking place. What we can do is embrace them and implement strategies that can enhance our facility. Thus the only recommendation I would like to propose focuses on the ability of us to work as a team to combat these issues. I recently read an excellent reference book entitled, “Organizational Behavior”. This book outlined key issues related to actions taken by a team of individuals and compared it to the actions of one individual. A quote...
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...Threat of New EntrantsThreat of New Entrants Whenever new firms enter a particular industry, the intensity of competition among firms increases. To reduce this threat, there must be sufficient barriers to entry in the industry. For example, in the financial services industry in Malaysia, barriers to entry are high due to the unavailability of new business licences as it is the Central Bank's policy not to issue new licences. Other forms of barriers to entry include: (a) Economies of Scale Firms cannot enter the industry due to the high economies of scale such as high production costs per unit enterprises. (b) Product Differentiation Brand identification creates a barrier to entry, forcing new entrants to compete with established brands. For instance, local brands versus international brands for tea products. (c) Capital Requirements The need for high capital or set-up costs can deter firms from entering the industry, such as the airline industry. (d) High Switching Costs Switching costs refer to the cost of changing from one supplier to another. This can be difficult for certain firms in the industry as it may involve high costs. (e) Access to Distribution Channels Limited access to the channels of distribution can deter firms from entering the market. (f) Cost Disadvantages Independent of Size Some firms may have cost advantages regardless of their size. In such cases, the cost advantages can be due to tax incentives or allowances given by...
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...By determining the relative importance of each of these forces we can: • identify the controlling forces and trends • explain and predict the profitability of the industry • identify an organisation’s competitive position within the industry • suggest ways to improve the competitive position (e.g. vertical integration) Threat of new entrants ← New entrants are businesses that enter the marketplace with the same product as the current members of the industry ← Includes imports from firms seeking economies of scale ← If it is easy to enter the industry this will tend to force industry prices down ← Threat depends on the height of barriers to entry ← Examples of entry barriers: ← Economies of scale - entrant must either enter on a large scale or accept a cost disadvantage ← Differentiation - brand identification and customer loyalty has to be overcome ← Capital requirements - how much finance is needed to enter and compete? ← Cost disadvantages independent of size - the learning curves, access to cheap labour, patents etc. ← Access to distribution channels - are they closed to new entrants? ← Government policy - legislation, tariff and non-tariff barriers Supplier bargaining power ← Includes suppliers of raw materials, components, labour, power, plant and equipment, finance ← High supplier power means that firms in the industry will have to pay high prices for...
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...cultural factors: Societal trends regarding how people think and behave have major implications for management of the labor force, corporate social actions, and strategic decisions about products and markets (Brady, 2009). 4. Technological factors: Technology is a major macro-environmental variable which has influenced the development of many of the products we take for granted today. Marketing firms themselves play a part in technological progress. New technologies also provide new production techniques. 5. Demographical factors: Demographics: Measures of various characteristics of the people who make up groups or other social units (Brady, 2009). Managers must consider workforce demographics in formulating their human resources strategies. Population growth influences the size...
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