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Analyse the external environment of business
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Analyse the external environment of business
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Executive Summary of Case External Environment Analysis Opportunities Threat of new entrants: The barriers to entry are high due to high fixed costs, lack of history in the local community, zoning regulation, and “not-in-my-back-yard” protests. Power of suppliers: Funeral consolidators such as Loewen group can put a great deal of pressure on suppliers to reduce prices. Power of buyers: The funeral home is usually the buyers first point of contact, therefore the funeral home has first chance at selling all related services and supplies. Product substitutes: The small family owned funeral homes cannot compete with the consolidators because the consolidators offer the consumer every option available while the family owned homes cannot. Intensity of rivalry: Although there were over 10,000 privately owned funeral homes in Canada in 1996, Loewen group maintained their share of the market because of namesake. Also only 30 percent of family businesses make it to the second generation, and only 10 percent to the third. Competitor general analysis: a. Future Objectives: b. Current Strategy: c. Assumptions: d. Capabilities: Economic: Everybody dies, and because of this there will always be a market for funeral services. Socio-Cultural: Being a consolidated funeral home they can offer cheaper services for those without a great deal of income, but they can also provide the top-of –the-line funeral service for those who want to pay for it. Global: SCI has paved the way, and Loewen Group can follow their example to move into the global market without any R&D costs, and steal some of SCI’s market share. Technological: There are not many technological advantages for a company that relies on tradition. Political/Legal: They are legally investing their money from the accrued pre-need revenues. The fact that they are allowed to invest these revenues allows them to create more money... ... middle of paper ... ...the company which in turn cuts costs for the customer, offering greater value. Competitive Advantages: One competitive weakness that the company has is the fact that they use the original suppliers of the funeral homes they acquire. Financial Analysis Profitability Ratios: Return on total assets: Return on stockholder equity: Net profit margin: Liquidity Ratios: Current Ratio: Leverage Ratios: Debt-to-assets: Debt-to-equity: Activity Ratios: Total sales turnover: Accounts Receivable turnover: Average collection period: Shareholder Return Ratio: Dividend yield on common stock: Price earnings ratio: Critical Issues To Prevent Bankruptcy Critical Issue Immediate: a. Action Step: b. Action Step: Critical Issue 1 to 5 Years: a. Action Step: b. Action Step: Critical Issue Long Term: a. Action Step: b. Action Step: Update Since Case Bibliography http://www.hoovers.com http://www.wsj.com http://www.loewengroup.com
Morbid Funeral Home, Inc. is an accrual basis taxpayer who sells preneed funeral contracts. Customers pay Morbid in advance for goods and services to be provided at the contract beneficiary’s death. Under state law the payments are refundable if the contract purchaser requests them any time until the goods and services are furnished. Morbid, for both financial and tax accounting purposes, includes the payments in income for the year the funeral service is provided. Morbid insists that the amounts it receives under the contracts are customer deposits. The IRS agent insists that the payments are prepaid income that is subject to tax in the year of receipt.
Since each funeral home is for the majority independent, the “leader” is either the owner or the manager. The position is achieved th...
Keller uses racial stereotyping in “Uncle Sam’s Thanksgiving Dinner” to implicitly show the disastrous effects of their inability to assimilate to American society. The only African-American depicted is a servant.12 The oriental is eating a rat, the Netherlands immigrant eating frogs, the Polish man eating sausages.13 At the head of the table is a white man, awaiting for the “proper” meal of thanksgiving.14 Eating foods from their country of origin indicates the refusal of immigrants to assimilate. Ultimately they would not be able to accept American ideals15, like democracy: undermining the foundation of American society as agents of anarchy16. The crowd outside further advocated for stringent limits on immigration; The acceptance of a few immigrants would trigger the influx of more migrants, causing more
To a high degree, society needs to be more open minded and realize there is little difference between the communities of “healthy” and “unhealthy” to allow everyone to fulfill a successful lifestyle in individual ways.
In a world of fast-challenging technology, we can only remain competitive by continuously refining and expanding our technical capability.
Funeral do not happen till 2 or more weeks after someone has died. It can even be over a month. This is because they need to get money together to pay for all the food that is needed, plus everyone must be notified. When someone dies the immediate family is told in person and not over the phone. They will call them and tell them to come quickly or tell them that the person is sick. When a woman who is married dies, it is often the job of her in-laws to tell her family that their daughter etc. has passed away.
For one to be a leader, one must have followers, however; not everyone under management, follow the managers orders? That is why they question if managers are leaders. The main question is what constitutes as leadership? In order to achieve these roles, they must have influence over their subordinates, but does the level of influence fluctuate between a manager’s role and a leader’s role? What exactly are their individual roles? The purpose of this paper is to analysis these questions and to identify the differences and similarities between managers and leaders.
As many organisational theorists have acknowledged the impact leaderships possess, there have been many debates over
A funeral is an important event that should be planned with careful consideration, as each person only gets one to celebrate his or her life. People often die expectantly and suddenly leaving any funeral and burial arrangements in the hands of friends or relatives. These friends or family of the deceased may or may not have a good understanding of what the deceased would have preferred in his or her post death arrangements. A person planning his or her own funeral can prevent this guessing game and insure the arrangements are to their specifications.
Being healthy, being active, and having an overall better outlook on how your life can be can dramatically change how you feel, how you act, and how you perceive yourself and your improve your overall wellbeing. It might not be the most fun thing to start, but it can dramatically change your life. So, get out there, get active, and love the one life you live.
Typically, jobs in emergency management require the minimum of having a bachelor’s degree, but further education can often be pursued. Deciding an academic program is a crucial step toward a future career because it can connect students with a possible mentor and it helps provide guidance into possible career. New educational programs are continually developing across several universities throughout the nation to help further develop careers in the field of emergency
A healthy lifestyle is defined by three different categories: physical, mental/emotional and spiritual. In order to live a truly healthy lifestyle, you must balance all three categories simultaneously. In order to do so you must have a well-balanced/ nutritious diet, regular amounts of physical activity, avoidance of risky behavior (smoking and drugs) and having positive thoughts/attitude as well as maintaining a good social relationship with family and friends. A healthy lifestyle is certainly not something you can achieve overnight but with determination and effort it surely can be reached.
Disaster management has become a hot issue in urban development and human security since threats from hazards and vulnerability are increasing, and have caused the damage from natural disasters to become more severe, and it has become crucial to lower the socio-economic loss. “Disaster,” is defined as a serious disruption to the functioning of a community or a society involving widespread human, material, economic or environmental losses and having an impact which exceeds the ability of the affected community or society to cope using its own resources (UNISDR, 2009). “Hazards,” are defined as a dangerous phenomenon, substance, human activity or condition that may cause loss of life, injury or other health impacts, property damage, loss of livelihood and services, social and economic disruption, or environmental damage (UNISDR, 2009). In 2005, the United Nations Office for Disaster Risk Reduction (UNISDR) established a model for disaster management called the Hyogo Framework for Action (HFA). This framework was determined to be the baseline of disaster management, and community involvement towards disaster management, thus it became a crucial aspect of tackling threats from disasters and hazards in the peaceful time of the non-disaster phase. The Hyogo Framework for Action stated that approaches such as increasing capacities of community members in disaster preparedness, adaptive behaviors to reducing risks, knowledge transfer from disaster stakeholders, and concern from the next generations are primary tasks to apply on the community level as Community-Based Disaster Risk Management (CBDRM). To achieve successful disaster management on the local level, external organizations such as the government, non-profit organizations (NPOs)...
The Lemelson Foundation was created by Jerome Lemelson, an American inventor and the holder of more than 600 patents in technology in the United States in 1993. The mission of the foundation is described on the official website: “The Lemelson Foundation uses the power of invention to improve lives, by inspiring and enabling the next generation of inventors and invention-based enterprises to promote economic growth in the US, and social and economic progress for the poor in developing countries.” (The Lemelson Foundation, 2015). The creator of the foundation believes that the success of sustainable development can be achieved through providing support to technological inventions and helping them to get into the market.
One of the core elements bosses and leaders share is the fact they both have authority. Authority, which is defined as “the power or right to give orders, make decisions, and enforce obedience”, is key to a position of power, but the two roles differ in how they achieve this right and the ways they continue to hold on to it.