Managing Financial Resources and Decisions - 1091 Words

UNIT 2: MANAGING FINANCIAL RESOURCES AND DECISIONS Unit 2: Unit code: QCF level: Credit value: Aim Managing Financial Resources and Decisions H/601/0548 4 15 credits The unit aim is to provide learners with an understanding of where and how to access sources of finance for a business, and the skills to use financial information for decision making. Unit abstract This unit is designed to give learners a broad understanding of the sources and availability of finance for a business organisation. Learners will learn how to evaluate these different sources and compare how they are used. They will learn how financial information is recorded and how to use this information to make decisions for example in planning and budgeting. Decisions†¦show more content†¦ypes of business ie limited company, partnership, sole trader Interpretation: use of key accounting ratios for profitability, liquidity, efficiency and investment; comparison both external ie other companies, industry standards and internal ie previous periods, budgets BH023329 – Edexcel BTEC Levels 4 and 5 Higher Nationals specification in Business – Issue 1 – April 2010  © Edexcel Limited 2010 9 UNIT 2: MANAGING FINANCIAL RESOURCES AND DECISIONS Learning outcomes and assessment criteria Learning outcomes On successful completion of this unit a learner will: LO1 Understand the sources of finance available to a business Assessment criteria for pass The learner can: 1.1 identify the sources of finance available to a business 1.2 assess the implications of the different sources 1.3 evaluate appropriate sources of finance for a business project LO2 Understand the implications of finance as a resource within a business 2.1 analyse the costs of different sources of finance 2.2 explain the importance of financial planning 2.3 assess the information needs of different decision makers 2.4 explain the impact of finance on the financial statements LO3 Be able to make financial decisions based on financial information 3.1 analyse budgets and make appropriate decisions 3.2 explain the calculation of unit costs and make pricing decisions using relevant information 3.3 assess the viability of a project using investment appraisal techniques LO4 Be able to evaluate the financialShow MoreRelatedManaging Financial Resources and Decision1445 Words   |  6 PagesManaging Financial Resources and Decisions-HND Assignment HND Assignment Managing Financial Resources and Decisions Scenario: Emaar Properties on Sunday announced to build a new hotel in Downtown area and that will be the second tallest property in the high-end area, according to chief executive officer for retail Arif Amiri. Amiri did not disclose value of the project and even declined to give the sale price. â€Å"We will announce the price at public launch on September 22,† he told reporters atRead MoreManaging Financial Resources and Decisions1280 Words   |  6 PagesAssessment Brief Unit 2 Managing Financial Resources and Decisions P.1. Identify short term, medium term and long term sources of finance available to Blue Orange Solutions. Long Term âÅ"“ Loans âÅ"“ Debentures âÅ"“ Bank loans (mortgage) âÅ"“ Merchant or Investment Banks Short / Medium Term âÅ"“ Bank loans âÅ"“ Overdraft facilities âÅ"“ Trade credit âÅ"“ Leasing 1. Business Angels Read MoreManaging Financial Resources And Decisions2502 Words   |  11 Pages Unit Number: 2 Unit Title: Managing Financial Resources and Decisions Unit 2: Managing Financial Resources and Decisions Assignment Cover Sheet Assignment No: 825789 I hereby confirm that this assignment is my own work. I have identified and acknowledged all sources used in this assignment and have referenced according to the Harvard referencing system. I have read and understood the Plagiarism and Collusion section provided with the assignment brief and understoodRead MoreManaging Financial Resources And Decisions1818 Words   |  8 PagesIDP 2: Managing Financial Resources and Decisions Assignment Introduction All businesses need finance because that refers to sources of money for business. The reason why firms need finance to: - Start-up a business – eg: pay for premises, new equipment and business strategies short-term or long-term. - Run the business – eg: having enough money to pay for rent, rate, bills, wages and suppliers on time. - Expand the business – e.g.: having funds to pay for new equipment, new office or a branchRead MoreManaging Financial Resources and Decisions4117 Words   |  17 Pagesand equity financing, which includes common shares, preference shares and retained profit. It is also to discuss advantages disadvantages of each source, as well as to assess the implications of these different sources related to risk, legal, financial and dilution of control and bankruptcy. Based on those analyses, it is to select the appropriate sources of finance for the project including retained profit, common and preference shares and loans. What’s more, the costs involved with each sourceRead MoreManaging Financial Resources And Decisions Essay3396 Words   |  14 PagesAssignment On Managing Financial Resources and Decisions Submitted To: Submitted By: Date of Submission: Contents Executive Summary 3 1.1 Why business needs finance and what are the available sources of finance to a business. 4 1.2 Access and compare the implication of the different sources of finance: 7 1.3 Critically evaluate the appropriate the sources of finance for the case: 8 2.1 Analyze the cost of different sources of finance: 9 2.2 Review the importance of Financial Planning 10Read MoreManaging financial resources and decisions Essay5351 Words   |  22 Pagesï » ¿ BUSINESS FINANCE MANAGING FINANCIAL RESOURCES AND DECISIONS GRIGOR GRIGOROV/MRC/20967/NHD MONT ROSE COLLEGE 25.03.2013 Task 1 Programme title HND Business Assessor/Tutor Yannick Fansi Unit 4 – Business Finance Assignment title 1 - Managing Financial Resources and Decisions Student Grigor Petrov Grigorov Date 25/03/2013 1.1 Identify the sources of finance available to a business. There are a number of sourcesRead MoreManaging Financial Resources And Decision Making3266 Words   |  14 PagesTITLE: MANAGING FINANCIAL RESOURCES AND DECISION MAKING Higher National Diploma (HND) in Business British Institute of Technology E-Commerce Managing Financial Resources and Decision Student ID- 48154 Student Name- Nataliya Georgieva Group: J Submission Date: 08-08-2014 Executive Summary The purpose of this assignment is to study the finance sources available to a company. Here according to the assignment requirement, we have to select a British public company to study the available sourcesRead MoreManaging Financial Resources and Decisions Essay4721 Words   |  19 PagesManaging Financial Resources amp; Decisions By: * * Introduction Top of FormBottom of Form | In this report we are going to help Mr T Jones to start his fast food restaurant in Manchester. Mr T. Wants to start a franchise restaurant Wimpy and needs help with the financial resources and planning part.    Step one, there are different souses of finance and it’s divided into internal and external finance, money that comes from within a company and theRead MoreManaging Financial Resources and Decision Ii9980 Words   |  40 Pages 11 Task Two: Unit Costs 12 Task Three: Pricing Decisions 18 Task Four: Investment Appraisal 1. Net Present Value (NPV) approach 22 2. Internal Rate of Return ( IRR) approach 23 3. Payback period 25 4. Accounting Rate of Return (ARR) 25 Task Five: Financial Statements 1. Main financial statements used by organisations 27 2. Differences between financial statements of various businesses 36 3. Ratio Analysis

Juvenile Delinquent Free Essays

Juvenile Delinquent Renee Washington American Intercontinental University ? Abstract This report is in regards to our young people today that need to be helped to a point that they have meaning in their lives. There are ways that can be presented to insure that young offenders can work through the pain, and rage surrounding their emotions which causes negative behavior. Healing programs have been a recommendation thru the court systems to analyze juvenile delinquency, and find the factors that lead to meaningful resolutions. We will write a custom essay sample on Juvenile Delinquent or any similar topic only for you Order Now ? Introduction Many of our young people have lost their way in this land of democracy. Why are the statistics so high regarding juvenile delinquency, and a young male, or female appears in our courts every single day before a judge for crimes committed against other people, someone’s property, or belongings that have been vandalized. Where are the families to these lost children? What causes them to erupt into crimes of violence, and mayhem? Something has to be done to help juvenile delinquents reflect on their lives, and the criminal offenses they commit. Illustrate Offenses The attitude that leads young people toward a cycle of negative behavior comes from deep rooted emotional rage, and pain which causes them to retaliate by committing offenses to others through stealing, vandalizing property, and sometimes violence against other people physically. The courts have begun to intervene on behalf of the juvenile delinquents by recommending healing programs that have been put in place to analyze juvenile delinquency, and find the factors that will lead to a resolution. Tell Causes The individual history of being betrayed by someone they trusted who cared for them as a young child. They were often neglected, abused, and victimized by a parent, or caregiver. A large number of family factors are associated with juvenile delinquency. Although it doesn’t excuse the offender’s behavior it does help to explain why so many young boys, and girls naturally vulnerable, and instinctively trusting become victims at the hands of his, or her own parent, and their whole life begins to unravel. Without positive intervention the child is at risk of violating the law at an early age, and charged as a juvenile delinquent. Consequences/Outcome A parent that has been abused or rejected will eventually lead to emotional wounds within the souls of their children. These wounds can be painful, and traumatic to the child because of where they originated from a family member, or loved ones. Without getting the specified, and intentional healing the infection from the wounds will manifest into bitterness, rage, and pain which will lead toward delinquent patterns. Conclusion Juvenile delinquency is one of the major problems being recognized and dealt with regarding the youth in today’s society. In â€Å"An Update on the Cycle of Violence†, by Cathy S. Widom, and Michael G Maxfield, (2001), stated that children being victims of abuse, and neglect in all likelihood will be arrested as juveniles if a positive intervention of hope doesn’t present itself in their lost lives. The Bethesda Family Services Foundation provides the type of programming needed for the juvenile delinquent, and his, or her family to start having hope toward healing. ? References Herbst, Dominic P. Helping Juveniles Reflect On Their Lives and Criminal Offenses. Corrections Today, Jun2005, Vol. 67 Issue 3, p22-25, 3p Retrieved October 30, 2012 From MasterFILE Premier Widom, Cathy S. ; Maxfield, Michael G, An Update on the Cycle of Violence Research Brief How to cite Juvenile Delinquent, Essay examples

Integrated CRM Strategy National Australia -Myassignmenthelp.Com

Question: Discuss About The Integrated CRM Strategy National Australia? Answer: Introducation National Australia Bank is one of the four largest and popular institutions in the financial area of Australia. It was founded in 1982 as the National Commercial Banking Corporation of the Australia Limited with headquarters in Melbourne, Australia. It offers various services, to the clients, which consists of Business Banking, Consumer Banking, Wholesale Banking, Wealth management and insurance. In 2014, National Institutions in Australia was placed at 21st rank in the list of the largest bank in the world as per the market capitalization and 41st rank in the list of worlds largest bank as per the total assets. But in 2016, the bank falls from its 21st position to the 49th position when measured according to the total assets. Along with this, the bank has also been rated as AA by the Standard and Poors. It is serving to the people of Australia, New Zealand and Asia with manpower of around 35,063. In 2014, National Australia Bank took the decision to add one effective feature to its working practice. This decision was regarding the implementation of Customer Relationship Management system within the workplace. NAB view is the part of core banking programs which combines the banks customer information, account information, etc. for improving relations with them. NAB view is the portal which collects the data from the Customer Hub and represents it to the bankers with the integrated tools. Thus, with the help of this, bankers of the NAB can view the entire relationship of the client on a single screen and in few clicks. This portal of the bank informs bankers about the information like whether the customers have traditional NAB personal or business account, their accounts in UBank, their transactions, personal information for contacting and many others. Use of NAB View increases the performance and working capabilities of the employees which results in more production (National Australia Bank. 2017). The present file focuses on the Customer Relationship Management project for the National Australia Bank. This includes resolution of the current customer regarding problems, selection of the most suitable CRM vendor, its advantages, and infrastructure requirements. Along with this, the report will also pay attention to the training programs regarding the suggested CRM. Current state analysis of the company To understand the current state of the National Australia Bank, both internal and external analysis is conducted. In context to this, SWOT (Strength, Weakness, Opportunity, and Threats) is used for the internal analysis of the company. This is as follows: Strengthens: It s one of the largest banks in Australia with respect to sheer assets and size. The bank has a strong brand name in the market of Australia, Asia, and New Zealand. It offers different quality products and services to the customers. Due to high-quality products company has created a strong profile in the banking industry of UK and Australia. Use of NAB view for strengthening the customer relations (News : National Australia Bank Consolidates Customer Data on New CRM System. 2014) Weaknesses: According to the recent NABs internal audit report, major issues are identified in the operational risk management practices. Technical issues to the online system which results to inconvenience and dissatisfy the clients Opportunities: The collaboration of the NAB with Visa with respect to payment will lead to rolling out innovative products and solutions to the customers. After the formation of China-Australia Free Trade Agreement, NAB has huge opportunity to expand and develop its business in the lucrative Chinese market. Threats: Competitors of the NAB are expanding their business and portfolios across the various nations of the world. Delayed returns from the technology investments can create an issue for the NAB working process. The volatility of the markets is enhancing the risks along with the factors such as Brexit and policy of the new U.S. administration. From the above internal analysis, it is clear that NAB is popular and largest banking firm in the Australia. It is also using the appropriate system for developing and maintaining effective relations with the clients. But the company is not focusing on its operational management practices which can affect the different activities. It is necessary for the firm to have improved risk management practices for handling any hazard or incident while operating business processes. Technical issues on the online system are enhancing the dissatisfaction level of the clients. On the other hand, NAB can gain competitive advantages by enhancing the business in Chinese market. External Analysis: PESTLE analysis is used for analyzing the external working environment of the market. Political: NAB creates a policy for banning the donation to the political parties in an image clean over. On the other hand, Brexit has created uncertainties in the political and business areas like free market access for the NAB which results to affect its working process (Boulding, Staelin, Ehret and Johnston, 2013). Economical: Subdued GDP due to the decreasing commodity prices in Australia and New Zealand is resulting in lowering income generation which is affecting growth and development of the bank. Along with this, the key market for NABs Group has the sub-trend economic growth since 2012. Social: The Company is involved in the community investment programs for addressing the financial exclusion and social cohesion. Along with this, NAB also pays attention to the gender equality for offering equal opportunities to both male and female workers. In context to this, the bank has a female representative at the leadership and executive roles. Technological: The bank is investing to the Data Republic and MLC On track program for preparing it for the data revolution. Along with this, the company is using technology for generating innovative products on Personal Banking Originating Platform. Legal: In case of NABs Clydesdale bank, the government of Australia has imposed fine or penalty which can impact on the profitability and brand image of the firm. Along with this, mistakes are found in the risk management practices of the firm which can result in litigation in any event of fraud. Environmental: NAB is the first Australian bank to achieve the recognition for carbon neutrality. Along with this, the bank has taken the initiative by generating science-based targets for decreasing the greenhouse gas (GHG) impact on the environment. Thus, the above analysis represents that NAB has both negative and positive aspects. The firm needs to develop effective relations with the customers for increasing the positive outcomes. Both the analysis represents that there is need of implementing effective CRM within the working environment. NAB View is efficient, but it needs to improve and upgrade as per the requirement of the current time. With the help of upgraded CRM, the company will able to handle its business processes, store its important and confidential information about the clients, inform customers about the various offers, new products or services, etc. CRM program/project objectives According to the above internal and external analysis, NAB needs to focus more on its customers for improving its decreasing market image. There is a gap between the business process and customer requirements. In context to this, users are facing technical issues in operating an online website of the bank which somewhere impacts negatively. To fulfill this gap, the bank needs to have an effective Customer Relationship Management system. NAB has its own portal for customer handling, but it is limited to certain functions and features. The company should have independent CRM system only for managing customer relations by knowing their demands and wants in an effective manner. Thus the major objective behind the formation of CRM plan for NAB is to increase customer satisfaction level (Tzeng, 2016). The project objectives for addressing the CRM solutions are as follows: To decrease the waiting time of websites for increasing client satisfaction To create proper report of improved risk management practices To cut the time required for generating the report of CSR activities With the help of appropriate CRM program, NAB will able to achieve the above-desired objectives which will result to enhance its brand image and business processes. Selection of CRM Vendor Product Suite and its advantages There is a large number of CRM solutions are available in the market. The vendors of the CRM Suite include SAP, IBM, Oracle, Siebel, Microsoft, and Salesforce.com. Selection of the appropriate CRM depends upon the ability and working area, business requirements, etc. of the firm. In context to this, NAB is a financial company which needs to have CRM for operating financial operations with respect to its customers. As per the working area of NAB, Oracle CRM is the best solution which will help in accomplishing the project objectives in an effective manner. Oracle CRM is a customer relationship management which is offered by the Oracle Corporation. CRM On Demand is the best suitable CRM solution for the bank. It is accessible via internet and uses the software called Software as a Service (SaaS). This system will provide various features to the NAB which are: Social CRM, Quote and order capture, partner relationship management, Business Intelligence applications, Price management, customer data integration and Self-service and e-Billing (Padilla-Melndez and Garrido-Moreno, 2014). Oracles CRM On Demand provides broadest and deepest capabilities to the organizations for improving and enhancing their loyalty, service quality and marketing. Along with this, it is a cost effective system as it does not have any hardware requirement. With the help of this CRM solution, NAB will able to: Become Smarter with the help of contextual intelligence, real-time and historical analytics and adaptive business planning features of the Oracle On-demand CRM Become more productive by using integrated sales and marketing in the cloud, mobile integration and specific solutions regarding the banking industry. Get the best value by lowering the total cost of ownership, using high-grade security and selecting the multi-tenancy or single-tenancy options (Hollensen, 2015). The Oracle CRM On Demand Financial Service Edition will help NAB to capture the insurance producer mindshare and increase the channel revenue. Less customization, faster time to value and increased user adoption will lead to enhancing the sales, marketing, customer service and partner management of the bank. Other benefits which NAB will get by implementing Oracle CRM On Demand Financial Service Edition are as follows: Enabling channel managers to pay emphasis to the high-value activities for enhancing the performance of the channel. Comparison of historical trends with the help of fast access to the hosted data warehouse for improving the current strategies and understanding the actual situation of the company. Display of embedded analytics based on the types of users. Provide a view business with the help of unified agent desktop with effective sales productivity tools. Increase in productivity and retention by maintaining the information properly and keeping a record of all sales and profit margin. Effective single view of the customers which enable faster and higher quality of need analysis. Streamline sales process for improving the effectiveness and collaboration Pipeline and activity trending for comprehensive and timely reporting Use of systematic and pro-active approach to managing and maintaining the client books of business along with client relationship which will lead to generating opportunities (Oracle CRM On Demand Wealth Management. 2017). Maximization in account wallet-share along with increment in new opportunity close rates. Determination of infrastructure Requirements The system requirements which will be needed by NAB for implementing the Oracle CRM On Demand are as follows: Required Browser: Mozilla Firefox with most recent stable version Google Chrome 32 and 64-bit version Apple Safari version 8.0.x,9.x for OS X. Microsoft Edge Supported Operating System: Microsoft Windows 7 Microsoft Windows 8.1 Microsoft Windows 10 The infrastructure which will need to support Oracle CRM On-demand is SaaS. This infrastructure will offer DBMS software, human resource management, enterprise resource planning, accounting, CAD software and many other. Combination of Oracle CRM and SaaS will provide following facilities to the NAB It allows clients to subscribe and use application software in the cloud. Uninterrupted CRM On-demand service to the customers by offering high security and safety measures on the cloud (What Is a Software-as-a-Service Cloud Suite?. 2017.). Employees of the firm can access the data from anywhere in the world NAB will have to pay only for those services it is using. It will provide bank an ability to customize their applications as per the business infrastructure without affecting the common infrastructure. Improved access to the data from any networked device. Training The staff of the NAB is quite unaware about the Oracle CRM On Demand software. Employees are handling business processes manually which can make them resist the implemented change. For encouraging workers to use CRM model, NAB will have to conduct training sessions. This will help in developing and enhancing the skills and knowledge of the employees for using CRM effectively. It will also reduce the fear of workers to lose their reputation, job position, economic status, etc. due to the implementation of new system. Along with this, the bank will have to tell the importance of CRM in business and in career growth of the workers. This information will help in changing mindset of the staff members. NAB will have to use some examples for better understanding and results. In the beginning, employees of the NAB will resist the change but proper information and training will make them change their thinking, and at the end, they will start using CRM effectively. In context to this, the bank will have to provide both theoretical and practical training to the workers along with information about the safety and security measures to be considered while managing the information on the cloud (Boulding, Staelin, Ehret and Johnston, 2013). Establishment of a timeline The timeline for implementation of the CRM Software within the workplace of NAB is as follows: Steps / Months 1 2 3 4 5 6 7 8 9 10 11 12 Business Justification Selection of Vendor Project Planning Process Refinement First Software Build Out Conference Room Pilots and Software configuration User Acceptance Testing Cut over Implementation The above timeline can be affected by various problems such as the sudden need of extra resources, hardware failure, attack of virus or malware, etc. Along with this, improper participation of the team members, a large amount of data to convert and transfer, insufficient resources, etc. can also affect the decided timeline for implementation of the CRM project into the workplace of the NAB (Mithas, Krishnan, and Fornell, 2013). Establishment of a budget While implementing the CRM On Demand system within the workplace, NAB will have to establish a budget. This will inform about the overall costing of the project. The budget for the respected CRM model is as follows: Items Cost ($) Total Study about different software 3,000,000 Design 8,000,000 Test 5,100,000 Development 7,200,000 Final Test 2,000,000 Total 25,300,000 Implementation 25,800,000 Purchase of Major System 198,000,000 Total 249,100,000 Initial System Investment 249,100,000 Annual Cost Annual Maintenance Cost 18,900,000 Profit, Technical Direction, Management Fees 3,650,700 Contingencies 1,820,300 Capital Recovery factor ($249,100,000, 5 years and 7% interest) $43,044,480 Basic Annual system cost $43,044,480 Conclusion It is concluded from the above study; National Australia Bank can improve its functioning by implementing Oracle CRM On Demand system. This system will enhance the customer relationship along with sales and profitability of the firm. References Boulding, W., Staelin, R., Ehret, M., and Johnston, W.J., 2013, May. A customer relationship management roadmap: What is known, potential pitfalls, and where to go. American Marketing Association. Hollensen, S., 2015.Marketing management: A relationship approach. Pearson Education. Padilla-Melndez, A. and Garrido-Moreno, A., 2014. Customer relationship management in hotels: examining critical success factors.Current Issues in Tourism,17(5), pp.387-396. Tzeng, J.Y., 2016. A Study of Customer Relationship Management. Mithas, S., Krishnan, M.S. and Fornell, C., 2013, May. Why do customer relationship management applications affect customer satisfaction?. American Marketing Association. National Australia Bank. 2017. [Online]. Available Through: https://www.nab.com.au/. [Accessed on 10th October 2017] News : National Australia Bank Consolidates Customer Data on New CRM System. 2014. [Online]. Available Through: https://www.contactcenterworld.com/view/contact-center-news/national-australia-bank-consolidates-customer-data-on-new-crm-system.aspx. [Accessed on 10th October 2017] Oracle CRM On Demand Wealth Management. 2017. [Online]. Available Through: https://www.oracle.com/us/products/applications/crmondemand/industry-solutions/wealth-management/crm-ondemand-wealth-management-331371.html. [Accessed on 10th October 2017] What Is a Software-as-a-Service Cloud Suite?. 2017. [Online]. Available Through: https://www.oracle.com/cloud/applications.html. [Accessed on 10th October 2017]