Social Theory and Karl Marx - 1012 Words

Karl Marx introduces theory materialistic in society. Karl Marx makes this theory aid to form equality between societies and have a better life of society. In Karl Marx era, his founds that huge gap in society between bourgeois and workers. Bourgeois enjoy the fruit of labour while workers contribute labour. Bourgeois introduce material forces of production based on Marx terminology that include capital, land and labour, whereas social relations of production refers to the division of labour and implied class relationship. In addition, the owner makes their huge profit by paying worker less than their work worth. Max told that totality relation of economic structure form shape of superstructure of society. Other than that, owner exploit†¦show more content†¦Each department will divide the employee into 2 sub group that has different break time. Different break time is to ensure the transistor productions non-stops, aligned to the theory by Karl Marx which is material of forc e production. This material force of production explains that production is more important and the product belongs to owners. My supervisor for marking department is old Malay guy that can understand a little of Myanmar language, with his help I understands my job for a bits. My nieces also work inside the same factory. With her helps, I was being transfer into others department that have higher majority of Malaysian citizens. My new department is known as pengasingan. Each individual have their own target transistor to produce each month. Thus, I must take seriously this job, need more focus and don’t have time to speak to the next person. If a person do not achieve their target and cause transistor damage, person will get warning letters and need to face supervisors. This action leads to alienation during division of job. There also some cases of Myanmar employee that salary being cut because almost 2 month did not achieve her target. The entire operator also being monitor by CCTV that always being watching by the japan owner of factory. Thus the person that caught makes mistake such as extra break time or play around during work time will be call into theShow MoreRelatedKarl Marx s Theory Of Social Class2099 Words   |  9 PagesBeyond the centric study of social classes, Karl Marx has also contributed other works in his field of communism in which everything he focused on was all around and bri dged to social classes. In Marx’s mind, standard of living, economy, exploitation, and alienation are all listed in the category of social class that â€Å"class differentiation becomes for Marx the decisive factor in the formation of the body politic† (Avineri, 1968, pg. 25). By referring to the liberal economy, Marx was neither the pioneerRead MoreSocial Theories of Karl Marx and Maw Weber789 Words   |  4 Pagestoday that can relate back to the concept theories that Karl Marx and Max Weber formed many years ago. Although there are too many for us to go further in depth on, I chose to primarily focus on Racism and Classism. With the perspectives of these theorists in mind I can explain how Racism, Classism, in conjunction with Feminism are among the largest social problems human beings face in the world today. Both theorists have different theories of the social concept Classism, however they are not thatRead Morekarl marx-theory of social change1102 Words   |  5 Pages theory of social change Marx s focus on the process of social change is so central to this thinking that it informs all his writings. The motor force of history for Marx is not to be found in any extra-human agency, be it providence or the objective spirit. Marx insisted that men make their own history. Human history is the process through which men change themselves even as they pit themselves against nature to dominate it. In the course of their history men increasingly transform natureRead MoreKarl Marx s Theory On Social Class902 Words   |  4 PagesKarl Marx was a German academic that studied history and philosophy, and while at the University of Berlin he joined the Young Hegelians; a group of radical philosophers who believed history was driven by intelligence and reasoning and human society progressed through dialectical change- following the beliefs of Georg Hegel (Appelrouth and Edles, 2012, p21). Most of Marx’s work was based on the interests of the working class, which proceeded on to one of his main theories being on class, which liesRead MoreMarxism Is Based On The Social Theories Of Karl Marx And Friederich Engels1445 Words   |  6 PagesMarxism is based on the social theories of Karl Marx and Friederich Engels and has evolved and adapted to take into account the way that society functions today. It states that social change is determined by the economy and describes the relationship and the conflict between the ruling class (the Bourgeoisie) and the working class (the Proletariat). Marxism describes how society is biased purely to benefit of the ruling class and examines the exploitation of the working class. There are lots ofRead MoreThe Correlations Between Karl Marx s Social Conflict Approach Theory And Bullying1895 Words   |  8 Pagesbetween Karl Marx’s Social Conflict Approach Theory and bullying. It defines and gives examples of the theory, bullying and its multiple forms, as well as using an article provided by the Center for Disease Control and Prevention (CDCP): Morbidity and Mortality Weekly Report, a government funded website dedicated to help educate people about bullying, its forms, and how to stop it, and lastly a study website created by a teacher or professor that explains, defines, and outlines Marx’s Social ConflictRead MoreKarl Marx: Conflict Theory Essay878 Words   |  4 PagesKarl Marx: Conflict Theory The most influential socialist thinker from the 19th century is Karl Marx. Karl Marx can be considered a great philosopher, social scientist, historian or revolutionary. Marx proposed what is known as the conflict theory. The conflict theory looks at how certain social interactions occur through conflict. People engage in conflict everyday to gain more power then others in society. Karl Marx is known for studying the conflicts that occur between different classes. KarlRead MoreKarl Marx And Max Weber1324 Words   |  6 PagesKarl Marx and Max Weber were influential sociologists that paved the way for modern sociological school of thought. Both, Karl Marx and Max Weber contributed a lot to the study and foundation of sociology. Without their contributions sociology would not be as prominent as it is today. From the contribution of how sociology should be studied, to how they applied their theories to everyday life has influenced many sociologists. Predominantly, both of these theorists’ discussed the effects of capitalismRead MoreKarl Marx And The German Political System1427 Words   |  6 PagesKarl Marx was born on May 5th 1818 in Trier, Germany, which was then known as the Kingdom of Prussia. Karl was a philosopher, e conomist, sociologist, journalist, and revolutionary socialist. His work in economics laid the basis for much of the current understanding of labor and it’s relation to capital, and subsequent economic thought. He was born into a wealthy upper middle-class family. He attended school at the University of Bonn and later he studied law and philosophy at the University of BerlinRead MoreConflict Theory926 Words   |  4 PagesConflict theories are perspectives in social science that emphasize the social, political or material inequality of a social group, that critique the broad socio-political system, or that otherwise detract from structural functionalism and ideological conservativism. Conflict theories draw attention to power differentials, such as class conflict, and generally contrast historically dominant ideologies. It is therefore a macro level analysis of society. Karl Marx is the father of the social conflict

Agriculture and Farm Machinery Over the Years

Using the Spanish Preposition De

De is one of the most common prepositions in Spanish. Although it usually is translated as of and sometimes as from, its use is far more versatile than the translation might suggest. In fact, in certain contexts, de can be translated not only as of or from, but as with, by, or in, among other words, or not translated at all. One reason de is used more often than its equivalents in English is because the rules of English grammar let us use all sorts of nouns and phrases as adjectives. In that way, Spanish isnt as flexible. While in English we may say, a nine-year-old girl, in Spanish that becomes una muchacha de nueve aà ±os or, literally, a girl of nine years. Similarly, in English, we may say something like a silver ring, using what is normally a noun, silver, as an adjective. But in Spanish we have to say un anillo de plata, or a ring of silver. Keep in mind also that when de is followed by the article el, meaning the, they form the contraction del. Thus los à ¡rboles del bosque is the equivalent of saying los à ¡rboles de el bosque (the trees of the forest). But no contraction is used for de à ©l, where à ©l means him. Following are some of the most common uses of de: Using De for Possession Possession or belonging, either physical or figurative, as indicated by an apostrophe plus s in English is almost always translated using de followed by the possessor in Spanish. So instead of saying the direct equivalent of Amandas cat, which isnt available in Spanish, we say the direct equivalent of the cat of Amanda or el gato de Amanda: el carro de Matilda (Matildas car)la clase del Sr. Gà ³mez (Mr. Gomezs class)las esperanzas del pueblo (the peoples hopes) ¿De quià ©n es este là ¡piz? (Whose pencil is this?) Using De for Causation Following an adjective, de can be used to indicate a cause. Used this way, de is often translated using with, of or by. Estoy feliz de nuestra amistad. (I am happy with our friendship. The word following de indicates the reason for happiness.)Està ¡ cansada de jugar. (She is tired of playing.) ¿Por quà © mi generacià ³n està ¡ tan aburrida de la vida? (Why is my generation so bored by life?) Using De To Indicate Origin Often translated as from, de can be used to indicate the origin of a person or thing. The same construction is used to state that a person is a member of a group. Soy de Arkansas. (Im from Arkansas.)Mi madre es de la India. (My mother is from India.)Es la chica mà ¡s inteligente de la clase. (She is the most intelligent girl in the class.) Using De With Characteristics When an object or person has characteristics (including contents or what something is made of) that are stated as a noun or infinitive, de is often used to show the relationship. It generally is not possible in Spanish, as it is in English, to use nouns as adjectives, also known as attributive nouns. corazà ³n de oro (heart of gold)el tranvà ­a de Boston (the Boston streetcar)una casa de huà ©spedes (a guesthouse)una cancià ³n de tres minutos (a three-minute song)una casa de $100,000 (a $100,000 house)una taza de leche (a cup of milk)la mesa de escribir (the writing table)una casa de ladrillo (a brick house)jugo de manzana (apple juice)una mà ¡quina de escribir (a typewriter, literally a writing machine) Using De in Comparisons In some comparisons, de is used where we would use than in English. Tengo menos de cien libros. (I have fewer than 100 books.)Gasta mà ¡s dinero de lo que gana. (He spends more money than he earns.)La vida te recompensa con mucha mà ¡s felicidad de la que crees. (Life can reward you with much more happiness than you believe.) Idioms Using De De is used in many common idiomatic phrases, many of which function as adverbs. de antemano (previously)de cuando en cuando (from time to time)de memoria (by memory)de moda (in style)de nuevo (again)de pronto (immediately)de prisa (hurriedly)de repente, (suddenly)de todas formas (in any case)de veras (truly)de vez en cuando (from time to time) Verbal Expressions Requiring De Many verbs are followed by de and often an infinitive to form expressions. There is no logic to which verbs are followed by de. The verbs need either to be memorized or learned as you come across them. Acabo de salir. (I have just left)Nunca cesa de comer. (He never stops eating.)Tratarà © de estudiar. (I will try to study.)Me alegro de ganar. (I am happy to win.)Se olvidà ³ de estudiar. (He forgot to study.)Romeo se enamorà ³ de Julieta. (Romeo fell in love with Juliet.) Key Takeaways De is one of the most common Spanish prepositions. Although it usually is translated as of or from, it can stand for other prepositions as well.One of the most frequent uses of de is to indicate possession, which English uses indicates by using an apostrophe followed by s.De is also often used to translate English attributive nouns, as nouns in Spanish are very seldom used that way.

Bipolar Disorder Symptoms And Symptoms - 1493 Words

Caitlin Rorman Ms. Chrisman English 10 30 November 2016 Bipolar Disorder If people don’t get enough sleep and miss a meeting, they are just upset, but for people with bipolar disorder, it can trigger another episode to their week. Bipolar Disorder is a brain disorder that can cause shifts in people s mood that are more unusual. Signs and symptoms can be different depending on if the person has manic or depressive episodes. A person with the disorder can also give their family and friends struggles, aside from theirs. These are things like life events or disruptions in life that can trigger an episode for the person. About 2.6% of the population in the United States for people 18 years or older. Bipolar Disorder can affect a large population of people, it has many signs and symptoms, struggles, can be triggers by certains things, and is will cause unusual shifts in people s mood. Bipolar Disorder is a brain disorder that interrupts people s everyday life, with having different symptoms, but there are treatments to help those people too. In the article ‘Bipolar Disorder’ from the National Institute of Mental Health it states, â€Å"Bipolar disorder, also known as manic-depressive illness, is a brain disorder that causes unusual shifts in mood, energy, activity levels, and the ability to carry out day-to-day tasks.† Bipolar Disorder can change somebody’s tasks during the day from certain event that can happen. People with Bipolar Disorder can feel like they have enoughShow MoreRelatedSymptoms And Symptoms Of Bipolar Disorder706 Words   |  3 PagesBipolar disorder is a serious mental illness that is characterized by changes in mood. It can lead to risky behavior, damage relationships and careers, and even suicidal outcomes if it’s not treated. Bipolar disorder is more common in older teenagers and young adults, it can affect children as young as 6. Women experience more periods of depression than men. More remains to be learned about this condition that affects millions of people. Aretaeus of Cappadocia began the process of detailingRead MoreSymptoms And Symptoms Of Bipolar Disorder1454 Words   |  6 PagesOne of the greatly investigated neurological disorders is Bipolar Disorder. Regrettably, due to social stigma, funding issues, and a lack of education, many who are dealing with this disorder do not receive adequate treatment. Bipolar disorder, is also known as manic-depressive illness, it is a brain disorder that causes unusual shifts in mood, energy, and the ability to carry out normal daily tasks. Symptoms of the disorder are severe and diverse from the normal ups and downs that everyone goesRead MoreBipolar Disorder : Symptoms And Symptoms1486 Words   |  6 Pagespeople may think that having bipolar disorder means that anyone with the disorder are just simply put, â€Å"crazy†, I was one of those people but the meanings of those two things couldn’t possibly be any more different. Bipolar disorder is defined as â€Å"A disorder ass ociated with episodes of mood swings ranging from depressive lows to manic highs.†(google.com) â€Å"Bipolar disorder is a chronic illness with recurring episodes of mania and depression†(nami.org). â€Å"The term â€Å"bipolar† — which means â€Å"two poles† signifyingRead MoreSymptoms And Symptoms Of Bipolar Disorder1020 Words   |  5 PagesBipolar disorder, formally known as ‘manic depression’, is known for its extreme mood swings; these can last anything from weeks to months and are far more extreme than moods most people would experience. Mood swings include episodes of highs and lows; these are known as mania and depressive episodes. Bipolar is a disorder that affects men and woman equally and affects around 1 in 100 adults. Symptoms usually start during or after adolescents and rarely start after the age of 40 (Royal CollegeRead MoreSymptoms And Symptoms Of Bipolar Disorder1648 Words   |  7 PagesBisecting Bipolar Disorde r Introduction and Background Overview 3.9% of adults in the United States are suffering from bipolar disorder as of 2014 according to the National Institute of Mental Health (Jann, 2014). Although rare, it is still a prevalent disease in the realm of mental health and requires special attention from healthcare providers. Bipolar disorder is a lifelong condition described by repeated manic or depressive episodes. Furthermore, due to the extreme mood swings and emotionalRead MoreSymptoms And Symptoms Of Bipolar Disorder Essay1278 Words   |  6 Pages1 HelenKeller541 Physiology October 26, 2016 Abstract: Bipolar Disorder Bipolar disorder is a mood disorder; also referred to as manic depressive disorder according to the Diagnostic and Statistical Manual of Mental Disorders (DSM-V, 2013). Bipolar disorder is a depressive disorder with manic episodes, it is placed between the chapters on schizophrenia spectrum and other psychotic disorders in recognition of their place as a bridge between the two diagnostics in terms of symptomology, family historyRead MoreBipolar Disorder : Symptoms And Symptoms Essay1384 Words   |  6 PagesBipolar disorder is simply defined as a manic depressive illness, which affects a persons mood and energy. However, the way it affects a person’s mood is dramatic and severe. These are severe moods are called episodes of mania and depression, which means a person who suffers from bipolar disorder might be extremely excited and happy one day, and extremely depressed the next day. In some cases, depressive or manic episodes last weeks, and in some cases these episodes last days. People who suffer fromRead MoreBipolar Disorder : Symptoms And Symptoms1390 Words   |  6 Pagesresearch of bipolar disorder will not only describe in detail the symptoms and affects of this mood disorder, but it will also include the advantages, disadvantages of the treatment and medications, and the major role that medications take. Bipolar disorder involves periods of elevated or irritable mood (mania), alternating with episodes of depression (Moore and Jefferson, 2004). The â€Å"mood swings† of mania and depression are very sudden and can happen at anytime any place. Bipolar disorder is categorizedRead MoreSymptoms And Symptoms Of Bipolar Disorder1700 Words   |  7 PagesIntroduction Bipolar disorders, also known as manic depression, are mental disorders characterized by shifting moods between depression and mania (Bressert, 2016). Those with a bipolar disorder, have extreme emotional states called mood periods. In the United States, more than 10 million people have bipolar disorder (Kennedy, 2015). It is lifelong, but can be treated. Although it can easily be treated, once patients choose to stop taking their medication their symptoms worsen. Around 15 percentRead MoreSymptoms And Symptoms Of Bipolar Disorder1285 Words   |  6 PagesBipolar Disorder This paper will contain information on what bipolar disorder in early and late adolescence is, causes and symptoms, medical along with therapeutic interventions and how important it really is to get treatment. Bipolar disorder is a disease that affects approximately 2.6% Americans in the United States in a given year. There is limited data on the rate of bipolar in adolescents, although, it does tend to affect older teens more often and may be related to substance abuse. A lot

Introduction. In The Beginning, I Dreaded The Thought Of

Introduction In the beginning, I dreaded the thought of taking this course. I have no problem with people who think differently than I do, but I truly hate hearing heated political arguments filled with arrogance, stubbornness and ignorance. I knew the course would be academically difficult and the topics would drive me up the wall. To some extend, I was right. There were days in the class that tried my patience and morality, but I took away lessons I wasn’t expecting. I didn’t know how many gray areas existed in our justice system, and I didn’t realize the extent of these issues. I’m not sure where I stand on every topic, but I know that our justice system is moving farther away from serving justice, and there are no easy answers for†¦show more content†¦We rarely go deeper into why the cops do what they do. Cops are trained to maintain social order and stay safe, but â€Å"emotional aspect of a police career is given far less, if any, attention† (Gilm artin, 2002, pp. 7-8). The struggles and stresses of the job often seep into the day-to-day lives of police officers (Gilmartin, 2002, p. 47), and eventually the nonpolice aspects of their lives are severely damaged or cease to exist (Gilmartin, 2002, pp. 69-70). This kind of stress and strain is psychologically damaging. Eventually officers â€Å"[break] or [ignore] administrative rules,† even leading to criminal violations (Gilmartin, 2002, p. 108). The question is how can we blame them? When cops must withstand constant violence and fear in the name of their job, how can their core values not be compromised, and how can they avoid losing their humanity (Gilmartin, 2002, p. 27)? There is also the issue with corruption when seizing assets. As law enforcement budgets are cut, more police agencies use forfeiture profits to recover funds (Holcomb Williams, 2011, p. 275). Research shows that the possibility of making a profit strongly influences operational decisions in police officers (Holcomb Williams, 2011, p. 275). Forfeiture funds must be used for approved purposes, but evidence suggests that forfeiture is often abused to make profits and can lead officers to base decisions on financial incentives andShow MoreRelatedChapter 4 Of The Longman Writer963 Words   |  4 Pagesenough to alter reader’s feelings to your own, accurate, representative (or relatable), and genuine documentation (articles, encyclopedias, etc.) (45). For the most part, Chapter 4 conduces effective writing with evidence. Before reading chapter 4, I overlooked the point of having dramatic evidence until reading the section â€Å"The Evidence Is Dramatic†. The most effective evidence enlarges the reader’s experience by dramatizing reality. Say you plan to write an essay with the thesis, â€Å"People who affirmRead MoreWhat A Star That A Jerk965 Words   |  4 PagesIntroduction The ability to identify and solve a workplace problem is an integral managing ability. Cliffe et al.’s article, â€Å"What a Star—What a Jerk,† (2001) focuses on a manager in a new position who is having problems with an aggressive, but talented, employee. Though the difficult worker in the article is a subordinate, I view the manager, Jane, as the cause of most issues. Jane demonstrates that she is not manager material by running to her old co-worker with every problem, gossiping about herRead MoreThe Writing Of Writing Essays1266 Words   |  6 PagesReflecting back from the beginning of the semester, I can honestly say that I believed that I was already a really good writer. However, I have struggled with the thought of writing. Ever since I was little, I dreaded the thought of writing essays, but when it came down to get the job done I never struggled and always earned good grades. Up until around half way though this semester I still had this fear. I am tha nkful that this class has made me overcome the fear and thought of writing essays, evenRead MoreTheory of Supervision1692 Words   |  7 PagesSupervision I. Building a relationship with the supervisee. Supervision models play an important role in navigating the course of learning about and becoming a licensed counselor. In the cognitive model of supervision it is assumed that the supervisee will affect the client through their thoughts about themselves and what lies in their expectations (Campbell, 2000). The supervisor should want to become familiar with the supervisee and get to know who they are and how they process ideas and thoughts. ToRead MoreA Long Way Gone by Ishmael Beah1189 Words   |  5 PagesIn the introduction of A Long Way Gone by Ishmael Beah, he writes, â€Å"There were all kinds of stories told about the war that made it sound as if it was happening in a faraway and different land. It wasn’t until refugees started passing through our town that we began to see that it was actually taking place in our country† (Beah 1). During this statement Beah says that he is completely oblivious to the war around him. These people living in Sierra Leone had ada pted to the war to the point where theirRead MoreMy Reflection On My Parents Instilled1378 Words   |  6 Pagesreading every night before bed as soon as I started learning the basics of reading. I enjoyed every moment of this; it was my favorite part of the day. The first book I was able to read on my own was â€Å"One Fish Two Fish Red Fish Blue Fish† by Dr. Seuss. The feeling of success I had after this accomplishment is as clear as day and I can still see myself as a five-year-old beaming with joy when I could finally read a book without assistance. In grade school, I was never the one who was passionate aboutRead MoreGraduate Study: Challenges and Strategies for Personal Success1341 Words   |  6 PagesStrategies for Personal Success fjazon HCS/504 October 24, 2011 Elwanda Whitaker Introduction Why go out of my comfort zone and take up graduate school, knowing the hardship and sacrifices that goes with it? This paper will attempt to answer this question by laying out the reasons and benefits of pursuing graduate studies. It will explore my goals, the challenges and the strategies that I will implore to attain these goals. It will also touch some of the strengths, weaknesses, andRead MoreGulliver’s Travels by Jonathan Swift1526 Words   |  7 Pagesthe fourth book of Gulliver’s Travels condemns human beings as creatures that are lower than animals on the Great Chain of Being. When Gulliver is confronted by his master about his clothing, he tells his master that â€Å"in the country from whence I came, those of my kind always covered their bodies with the hairs of certain animals prepared by art, as well for decency, as to avoid inclemencies of air both hot and cold (Swift 2427).† his master does not comprehend Gulliver’s reason for wearing clothesRead MoreEffectiveness Of Interactive Online Algebra Learning Tools1693 Words   |  7 Pagessmall sample and due to the unequal number of participants who were in each group. The overall results indicated that both module designs were effective. Effectiveness of Interactive Online Algebra Learning Tools: A Critical Analysis Introduction In â€Å"Effectiveness of Interactive Online Algebra Learning Tools† (Cavanaugh et. al 2008), the authors study a small group of students to determine whether or not the use of interactive online Algebra learning tools is effective. For the purposeRead MorePersonal Narrative : My Love For Nutrition1621 Words   |  7 PagesMy love for nutrition began five years ago after I graduated with my first bachelor’s degree in fashion design. During college, I surpassed the dreaded freshman fifteen and gained a significant amount of weight. I decided to take a break after graduation and invested my free time in improving my well-being. I was inspired to turn over a new leaf and transitioned to a healthier lifestyle, after witnessing a major transformation in my father’s life after he was diagnosed as pre-diabetic. With great

Entrepreneurship and Innovations Services †Free Samples to Students

Question: Discuss about the Entrepreneurship and Innovations Services. Answer: Introduction: The marketing of products, services and information that is needed to be integrated as the major objective of the site to sell the pharmacy products at a lower price with facilities to the customers of e-appointment of the customers over the applications. The company will be initiating banner advertising by negotiating with the premier Australias web portal. The objective of such advertisements campaign was to produce traffic to the site and create a credibility by establishing a brand name in the minds of the consumers. The company will implement the systems of mail order customers as the company anticipates a set of customers that will order medication with the help of mail as the effort of saving money. Usually the mail order customers will be of older age that are generally over the age of 50 years. As a general sense, elderly consumers consume more amount of medication in comparison to the younger people. The mail order customers will generally purchase the maintenance medications and prescriptions for the current ailment which needs regular treatment. Such group of customers would be more likely to purchase several months of the medications at once. The reason for targeting the elderly customers is that they would be able to producer higher amount of gain from making use of such online mode of service. The elderly customers will be targeted because the applications is technology savvy patients who will be able to enjoy convenience and privacy of making the doctor appointments through online basis. Ultimately e-appointments plans on attracting the doctors based on the gender scale by recruiting the HMOs and the PPOs. By providing appointments to several doctors at once it will help in adding value to the business and will encourage more doctors to join and will enable the e-appointment to increase at a faster rate. Following the rolling out of the initial release of e-appointment the business will move towards the marketing and the development. Such kinds of business cycles might overlap. The marketing cycle of the business will be comprising of an attempt to increase customers base of the e-appointment of doctors along with the added features of ordering medications through online mode. This will be comprising of creating and executing the marketing strategies through campaigns or by establishing an alliance or partnerships. the development cycles will be having an additional feature of improving or adding the new feature in the applications and this cycle will be turning out to be very complimentary. The marketing cycle will enable the company to be closer to the customers and they will be able learn new features. The target market for the company will be those consumers in the community that would seek to obtain their pharmaceutical products from the pharmacy that places emphasis on providing higher level of customers service irrespective of the price. The business has targeted the community having median income which could be considered enough to anticipate residents to be price insensitive. As the business emphasis on the service and quality of care the target market of the company will be expanded to take into the considerations the customers of chain of drug stores that have turned out to be disenfranchised because of the lack of the customers service, long waiting lines and the impersonal or the general quality of the chain drug stores. The company can face competitions from the chain of retail pharmacies. The advantage such chains represents the better prices with the help of economies of scale along with the personalized service. Additionally, there are local pharmacies where the pharmacy stores understand the pharmacist and understand the medical history of the customers. In the current age of technology when a large part of the products and services are delivered conveniently at the doorstep of the patients. There arises a need for accessing applications that would assist the patients and customers to avail the facilities of doctors appointment and door step delivery of the medicine without leaving the home. This kind of needs could be addressed by an e-access of the applications representing a function of the online model that would provide access to the medicine with the help of mobile applications and internet based platforms. A potential target market that the company will be targeting will be the old aged customers that are residing in Australia. because there are customers that use important amount of high end medications and need a great amount of drug therapy and doctor appointment. As a reason for this launching such applications will be a profitable target market. In addition to this, the service oriented nature of the company fits nicely with the type of drug therapy management needed and e-appointment of the doctor since the old aged patients will take a considerable amount of interest in the online pharmaceutical care. Organizational and Technological Analysis: The company is in the phase of development. The phase of the business operations comprises of the analysis, design and rapid prototyping stage to be finished by the business owners. The ultimate result of the first stage is the prototype of the business which will help the owners in better understanding of the operational requirements, the architecture and low level designs along with the selected development tools and environments. The operations of the system will revisit the business plan in order to ascertain the best available path for the growth of the business and becoming profitable. The second development represents that the company will be undergoing second reiteration which will be comprised of the analysis, design, implementations and testing that need to be performed by the owners. In this stage, external assistance will be taken into the considerations to vividly design the front end of the application. Once the second part of the system is created the system management will be online and the owners of the business will be able to perform the regular day to day activities of the business operations. The functionality of the business system could be efficiently tracked with the help of complete details of the medicines and doctors availability, with batch number, dispensing name of the pharmacy, doctors prescribing the medicine with name and address of the patient. The business will additionally make use of the websites for the dissemination of the information along with the mechanism for email communication. Additionally, the pharmacy will hire a freshly graduates from college having a degree in computer science to complete and maintain the application with the measurement of reduced costs. The business will have co-presidents with other business partners will be serving as the store manager. The major responsibility of the business owners will be of growing the business management. This comprises of the marketing and adding functionality to the current system. This is because following the completion of the second phase the owners will be able to market the system in order to obtain the user base. Once the user base is created the owners will be able to add functionality to the system. The business cycle will constantly repeat; this is because the additional functions of the owners will be able attract more number customers with the help of marketing. At this point it is probable that the owners will be able to acquire new employees so that they would support the maintenance and marketing of the system. With the growth of the user base the profit model of the business will be changed to suit the business needs. During the first reiteration the owners would be appointing the four to five employees to carry out the operational work of the business. The owners would be acquiring the external help in order design the needed look and feel of the front end of the business operations. Additionally, the company will be appointing sales agent or the phone representatives two on the third month with an additional person on the sixth month. The company will be also employing pharmaceutical technicians two at the second month and third in the sixth months. The company will be employing order fulfilment agents two in the fifth month, a third for the eight month with a counter person phone representative and one at the third month. On the completion of the iteration web hosting of the doctor appointment and online supply of the pharmacy will be outsourced so that the owners will be able to focus on the marketing aspects of the business management and this would help in adding functionality to the system. Prior to going operational aspects of the business, legal assistance might be needed for incorporating and writing the end user agreements. The business also need some part time employees for the third part of the operations. This would comprise of the part time employee which would assist in maintaining the current system. While the business owners might regularly add the functionality of the business to the system, the owners might consider employing part time employee that could be engaged in the activities of marketing in the proposed business operational system. The start-up fund of the business comprises of the contributions made by owners and the business will also take the assistance of the bank in the form of loan with total amount of start-up fund standing $125,000. The revenue generated for the business is from the sale of the product and to a certain extent from the advertisement. The company is generally associated with the sale of the pharmacy products and appointment of doctors from the assistance of mobile applications in order to generate sales that are at the sufficient level of the site traffic. Remarkably, an approximate 20 per cent of the sales is anticipated from the sale classified mail orders through mobile applications. As such the customer through the help of the application orders the pharmacy products and gets appointment with the desired doctor. This has provided the business with the opportunity to diversify into the mobile application pharmacy business. Once the sufficient amount of traffic is generated on the application other business opportunities such as advertisement and cross selling would originate from the application. To generate revenue, the business is keen place interest on advertisement as another means of producing revenue from the mobile applications. The presented growth rate in the revenue of the business has been rapid since the company has placed strain on the current assets and resources of the business. Obtaining loan from the financial institutions will enable the company to attain growth by providing sufficient amount of capital to diversify and expand the business activity of the company which would ultimately expand the revenue of the streams. The company will commence deriving revenue upon the launch of the application which would be dedicated towards modifying the current system to accommodate the doctors and to generate the flexible schedule system in order to support the patients. Conclusion: The financial statements of the business represent that the company expects certain cost that related to the execution of the business activities as these costs are relevant and incidental to the business. Cost such as lease premises rent, administrative expenses, cost incurred on marketing survey, insurance etc. In addition to this, the income tax expense arises represents 30% of the net income before tax. The return on capital employed stands 18% for the first year and in the second year of the operations the return on capital marginally falls due to the commencement of the loan account repayment. However, it is projected that the business would gain strength on the return on capital employed as the same would increase to 20%. The increase is attributed to the growth in the sales revenue since the business anticipates to expand its operations after passing three years of its commitment. Additionally, the business assets would be depreciated over the years under the two methods namely straight-line method and diminishing value.

Venture Projects Economics and Finance - Myassignmenthelp.Com

Question: Discuss about the Venture Projects Economics and Finance. Answer: Introduction With the development of innovation and science there has been construction of various projects throughout the world keeping in mind the main objective of to enhance the operational and financial structure of the world. It has been viewed that there are different projects that have been built with a specific end goal to fabricate new structures and innovative products that would improve the way of life of the people residing globally (Marglin, 2014). This paper hence has been established so as to embrace a critical assessment of a sustainable venture that is performing in the country of Australia so that a lucid idea regarding the project background and the aims and goals of the project can be conceived. The evaluation of the economic assessment and techniques and equipments would even be explained and the cost benefit analysis in relation to the project can even be understood with regards to the goal in order to obtain a clear idea. The project is about the incident of creating a busi9ness in Australia and hence the team members are said to construct the cost benefit as well as the economic analysis. The project has been constructed by assessing the literature review where the economic as well as the cost benefit analysis has been portrayed. This paper has considered Smart Watch project in Australia that has been functioning from the year 2012 and has still been going on in order to gain precise knowledge about the costs and the economic tools used for the establishment of the same. Project Background This venture has been undertaken by computing numerous researches within the market of Australia and thereafter establishing the review of literature. With the development of science and technology there has been introduction of various new products that are becoming useful in our daily life as well (Nas, 2016). The concept of Smart Watch has been in the mind of the developers for a very long time as they had a desire of providing a variety of features within a watch which would lower the burden of carrying various articles for a human being. The project in relation to the development of Smart Watch has been initially undertaken by the private sector organizations that are functioning in the country and they have the idea of developing new and improved features within the watch that would look into our personal as well as fitness life. It has been observed that Australia has a market that is a vibrant and a free democracy and has been rising ever since. The economy of the country had a set back during the initial period of the establishment of the project but as the years have passed there has been a rapid development and this has motivated the investors as well as the stakeholders to undertake further investments in such innovative projects (Mishan, 2015). The idea of the project has been sustainable addition of new and improved features that would be useful to mankind and therefore this project has still been going on with various researches taking place each and every day in order to bring out the best possible product for the same. The delivery of such product in the market would mean enhancement of the lifestyle of mankind and in that manner development of the economy as a whole (Griffin, 2016). This project is a private sector venture and Technocrat is the organization who is liable for the design and, maintenance, financing and operational activities that are common for the deliverance of the project. This project would enhance the value for money property and would lead to rise in quality products in the Australian market. Project Objectives and Justification The development of the project has been to improve the lifestyle of the consumers of the country and enhancing the confidence and the satisfaction level of the communal societies with the help of a variety of other features that reduce the level of reoffending. The venture has shown a significant level of investment in the manufacturing and the services of the Smart Watch with the assistance of Technocrat, which would lead to deliverance of innovative and improve products. The project is fundamental in giving economic benefits and raising the level of employment within the country as there are scope of employment of around 800 employees during the initial stages of the development of the product and later on an additional of 100 employees would be essential for the sales, promotion and marketing of the product in the economy of Australia. The objective of the venture has hence been discussed below: Provide added capacity in the technological industry Provide added features to the consumers of the country Provide supplementary capability in order to lower the level of reoffending Motivate in procedures and practices that are innovative in nature and efficient operations that would raise the value for money The justification for the undertaking of the project has been to improve the lifestyle of the consumers and to make a healthy and a happy environment for the existence of the society. Assumptions, Constraints and Expected Outcomes The construction of the project has been possible by looking at the assumptions and the financial capability. The assumptions of the venture has been gaining knowledge about the financial scenario of the organization undertaking the venture and the number of members who are functioning in the development of the product that would be helpful in delivering the project within the stipulated time period. There are several challenges and risks associated with the venture as well like the challenges with respect to the planning of the venture, gaining various permits and approvals for the initiation of the project etc (Keohane, Olmstead 2016). The other risks involve the risks related to the design and the financial and the activity based risks that can be very harmful for completing the Smart Watch project. The anticipated outcome would be that the expansion in the market of smart watches would act as drivers for the organizations to establish smart watches more for selling them in the Australian market. It has been anticipated that this business would even be reaching the breakeven point within certain years after its initiation of their operations and would then look to create profits for them. Literature Review The review of literature would contain the different information with respect to the equipments and devices that have been utilized by the venture on request to decide their operational exercises and to construct the economic assessment and the cost benefit assessment of the Smart Watch project. This area of the paper would give a broad research and assessment of the present worth, cash flows, internal rate of return alongside the profitability index and techniques of business development and their appropriate procedures with the goal that the venture can be finished up accurately. The utilization of the MADM and MCDM financial assessment process would be powerful to understand the procedure that would be utilized as a part of request to comprehend the present financial and the economic scenario of Smart Watches in Australia. The venture clarifies about the review of the literature and the clarification with respect to the economic investigation and the cost benefit examination of the Smart Watch Project. A small outline of the model of risk evaluation of Smart Watch project in Australia will be talked about in this area. The procedure of economic investigation are characterized as the scientific and measurements and designs. The economic analysis depends on the different strategies for the sensitivity of the economy and keeping in mind the end goal to make efficient identification of the comparative information and therefore it is fundamental to explore at least two procedures. Overview of Project Economical Analysis Techniques and Tools Australia is viewed as a vivacious free democracy of the market and there has been a dynamic economical advance that has been conceivable because of nonattendance of any kind of recessions. The successful procedure of the legislative system of Australia has been helpful for the economy and a free well-working lawful framework, bureaucracy has been the key factor for efficient entrepreneurial upgrade. Australia is considered as an alluring and dynamic country for investment. In the greater part of the situations, the legislature has diminished the level of investments and has motivated the private segment to attempt investments in various innovative projects (Posner, 2014). This has been seen in the Smart Watch Project where ventures are embraced essentially by the private sector. Australia has been successfully aggressive in the technological aspects of manufacturing of products and services. The rate of income tax is 45% and the rate of corporate tax has been 30%. One of the hopeful parameters of venture start ups in Australia has been rate of start up being higher as they have the likelihood leading to the development. The new business projects in Australia like the varieties in sources of funding and ventures like the Smart Watch Project tries to influence utilization of the equity finance amid the primary phases of the developments. The nation has been encountering issues and shocks in the amid the previous couple of years yet in the first quarter of 2017, the economy has recouped from this circumstance and this has seen a rise in the business confidence and the investors as well as the consumers in this manner would positively affect the investments in the business and expenditure of the investors (Morgenstern, 2014). The Australian economy is thought to be inside a strong base notwithstanding the different shortcomings in the ventures that are in nature non-mining. As for Smart Watch project in Australia it has been watched that the under taking has been encountering development and as this is an on-going procedure and this has prompted to rise in investments. The Australian economy has remained firm and has been developing despite the ascent in the cost of petrol and this has prompted the fall in the disposable income for the customers. The economy of the nation has been rising with the ascent in the interest rate which is being utilized for decreasing the inflation rate. The development of the economy has been conceivable as the government has been reducing the taxation rate (Blau et al., 2013). This would energize the financial investors of the business ventures to expand their interests in the Smart Watch project. This has prompted the development of the smart watch more successfully. The investigation of the Smart Watch has been conceivable with the help of economic analysis like the development of the factors that are accessible in the venture and the personalities, capacities and the equations that have been f ound in the venture report of Smart Watch Project. The economic analysis of the venture has been conceivable by taking a look at the costs and the aggregate funding that has been embraced for the conclusion of the venture. The table beneath would show an overview of the valuation of the project: Particulars Amount Residual Value Non-Current Assets: Trademark 400000 0 Patent 700000 0 Property,Plant Equipment 14000000 4200000 Furniture Fittings 900000 135000 Motor Vehicle 1400000 560000 Computer Equipment 1400000 0 Preliminary Expenses: Business Registration 90000 License Fees 140000 Deposit for Electricity 90000 90000 Deposit for Telephone Internet 40000 40000 Recruitment Cost 20000 Share Issuance Cost 25000 Bond Issuance Cost 10000 Other Miscellaneous Expenses 65000 Working Capital: Purchase of Raw Material 18000000 Wages Salaries 13500000 Manufacturing Overhead 8250000 Selling Marketing Expenses 547750 General Administrative Expenses 304750 40602500 TOTAL START UP COST 59882500 Capital Funding: Equity Capital 26947125 5 yrs. Bond 19761225 Loan From Bank 13174150 TOTAL CAPITAL EMPLOYED 59882500 The timeframe that has been assigned to the employees who are functioning in the Smart Watch project has been provided in the table below, which would act as a guideline of the procedures that would be undertaken for the completing the venture within the stipulated time. Assignment Start date Submission Duration Start up 1/03/2017 7/03/2017 1 week Activity 1- Researching the Australian markets and its economic scenario 08/03/2017 12/03/2017 4 days Activity 2- Financial evaluation of project 13/03/2017 30/03/2017 3 week Activity 3- Determining the financial viability of project by selecting the best alternative 31/03/2017 09/04/2017 2 weeks Uniform Annual Cash Flow The annual cash flow that is equivalent in nature for Smart Watch project consists of the inflow and the outflow of the cash. The cash flow gained from the operating activities means the payments that have been given to the suppliers and the cost related to direct labor. The annual cash flow of this project has been provided below: CASH FLOW STATEMENT: Particulars Year 1 Year 2 Year 3 Year 4 Year 5 Cash Flow from Operating Activities: Cash Sales $42,000,000 $46,063,500 $50,520,144 $55,407,968 $60,768,688 Collection from Debtors $57,750,000 $68,587,313 $75,223,135 $82,500,973 $90,482,942 Cash Purchase ($14,400,000) ($15,793,200) ($17,321,192) ($18,997,017) ($20,834,979) Payment to Suppliers ($18,000,000) ($23,341,500) ($25,599,790) ($28,076,570) ($30,792,978) Direct Labor Cost ($24,750,000) ($29,394,563) ($32,238,486) ($35,357,560) ($38,778,404) Manufacturing Expenses ($16,500,000) ($18,096,375) ($19,847,199) ($21,767,416) ($23,873,413) Insurance ($11,000) ($11,275) ($11,557) ($11,846) ($12,142) Rates Taxes ($5,500) ($5,638) ($5,778) ($5,923) ($6,071) Salary of Office Staffs ($82,500) ($92,063) ($94,364) ($96,723) ($99,141) Cleaning Charges ($4,000) ($4,100) ($4,203) ($4,308) ($4,415) Electricity for Office ($12,833) ($14,321) ($14,679) ($15,046) ($15,422) Telephone Internet ($6,417) ($7,160) ($7,339) ($7,523) ($7,711) Salary of Marketing Staffs ($128,333) ($143,208) ($146,789) ($150,458) ($154,220) Sales Commissions @1.5% on Sales ($525,000) ($575,794) ($631,502) ($692,600) ($759,609) Travelling charges @2% on Sales ($262,500) ($287,897) ($315,751) ($346,300) ($379,804) Income Tax Expenses ($5,760,051) ($6,490,091) ($7,287,756) ($8,159,959) ($9,114,240) Cash Inflow/(Outflow) from Operating Activities $19,301,866 $20,393,629 $22,216,894 $24,219,693 $26,419,082 Cash Flow from Investing Activities: Purchase of Non-Current Assets ($18,800,000) Preliminary Expenses ($480,000) Sale of Assets $4,895,000 Return on Deposits $130,000 Cash Inflow/(Outflow) from Investing Activities ($19,280,000) $0 $0 $0 $5,025,000 Cash Flow from Financing Activities: Share Issue $26,947,125 Bonds Issue $19,761,225 Loan From Bank $13,174,150 Interest Payment ($2,634,830) ($2,634,830) ($2,634,830) ($2,634,830) ($2,634,830) Dividend Payment ($4,704,042) ($5,300,241) ($5,951,667) ($6,663,966) ($7,443,296) Repayment of Bond ($19,761,225) Repayment of Loan from Bank ($13,174,150) Cash Inflow/(Outflow) from Financing Activities $52,543,628 ($7,935,071) ($8,586,497) ($9,298,796) ($43,013,501) Net Cash Increase/(Decrease) for the period $52,565,494 $12,458,558 $13,630,397 $14,920,897 ($11,569,419) Add: Opening Cash Balance $0 $52,565,494 $65,024,052 $78,654,448 $93,575,346 Closing Cash Balance $52,565,494 $65,024,052 $78,654,448 $93,575,346 $82,005,926 Net Present Value (Present Worth) The net present value (NPV) for this venture has been provided with respect to the current rate of inflation, the present growth rate and the percentage of WACC. The NPV value for the venture has been 117309330 and this value has indicated that the project has been running successfully with the variations of the various economic factors. Internal Rate of Return (IRR) The Internal Rate of Return of the Smart Watch venture has accounted for 44.43%, which suggests that the venture has a positive impact and the venture can be feasible for additional investments. The rate of internal return would vary with respect to the transformations in the rate of inflation, rate of growth and WACC. The value of IRR has revealed that investments can be efficient in the Smart Watch Project as there is demand in the market for innovative products and hence would influence the investors to make further investments into the venture. Modified IRR The modifications in the rate of IRR are possible with the changes in the rate of inflation, WACC and rate of growth. The transformations in these economic factors would mean changes. The other factors can be rise in the level of investments and as well as profit from sale of the product that has an influence in the rate of change in the IRR. The rise in the IRR would mean that the project has been doing well and hence would be beneficial if any investor undertakes investments in these projects. Cost Benefit Analysis The cost benefit assessment has been found to be the method with the assistance of which the decisions related to the business can be analyzed (Dunn 2015). The benefits of this actions and situations that are associated with the business are added and then the expenses associated with the implementation of the action are assessed. The cost benefit analysis of Smart Watch project has been assessing the entire costs that are associated to the venture and then assessing the income that are created by taking help of the financial institutions and the profit from the sale of the products. The evaluation of the cost of shown below: Particulars Year 1 Year 2 Year 3 Year 4 Year 5 Inflation Rate 2.50% 2.50% 2.50% 2.50% Sales Growth Rate 7% 7% 7% 7% Sales Volume 30000 32100 34347 36751 39324 Selling Price Per Unit $3,500 $3,588 $3,677 $3,769 $3,863 Total Sales Revenue $105,000,000 $115,158,750 $126,300,359 $138,519,919 $151,921,721 Cost of Good Sold per unit: Raw Material Consumed ($1,200) ($1,230) ($1,261) ($1,292) ($1,325) Direct Labor Cost ($900) ($923) ($946) ($969) ($993) Total Cost of Goods Sold p.u. ($2,100) ($2,153) ($2,206) ($2,261) ($2,318) Total Cost of Goods Sold ($63,000,000) ($69,095,250) ($75,780,215) ($83,111,951) ($91,153,033) GROSS PROFIT $42,000,000 $46,063,500 $50,520,144 $55,407,968 $60,768,688 Variable Manufacturing Overhead p.u ($550) ($564) ($578) ($592) ($607) Total Variable Manufacturing Overhead ($16,500,000) ($18,096,375) ($19,847,199) ($21,767,416) ($23,873,413) Depreciation on Property,Plant Equipment ($1,960,000) ($1,960,000) ($1,960,000) ($1,960,000) ($1,960,000) Total Manufacturing Overhead ($18,460,000) ($20,056,375) ($21,807,199) ($23,727,416) ($25,833,413) General Administrative Expenses: Depreciation on Furniture Fixtures ($90,000) ($81,000) ($72,900) ($65,610) ($59,049) Depreciation on Computer Equipment ($168,000) ($147,840) ($130,099) ($114,487) ($100,749) Amortization of Patent ($80,000) ($80,000) ($80,000) ($80,000) ($80,000) Amortization of Trademark ($140,000) ($140,000) ($140,000) ($140,000) ($140,000) Insurance ($11,000) ($11,275) ($11,557) ($11,846) ($12,142) Rates Taxes ($5,500) ($5,638) ($5,778) ($5,923) ($6,071) Salary of Office Staffs ($90,000) ($92,250) ($94,556) ($96,920) ($99,343) Cleaning Charges ($4,000) ($4,100) ($4,203) ($4,308) ($4,415) Electricity for Office ($14,000) ($14,350) ($14,709) ($15,076) ($15,453) Telephone Internet ($7,000) ($7,175) ($7,354) ($7,538) ($7,727) Total General Administrative Expenses ($609,500) ($583,628) ($561,156) ($541,708) ($524,949) Selling Marketing Expenses: Depreciation on Motor Vehicle ($168,000) ($147,840) ($130,099) ($114,487) ($100,749) Salary of Marketing Staffs ($140,000) ($143,500) ($147,088) ($150,765) ($154,534) Sales Commissions @0.5% on Sales ($525,000) ($575,794) ($631,502) ($692,600) ($759,609) Travelling charges @0.25% on Sales ($262,500) ($287,897) ($315,751) ($346,300) ($379,804) Total Selling Marketing Expenses ($1,095,500) ($1,155,031) ($1,224,439) ($1,304,151) ($1,394,696) Net Operating Profit/(Loss) $21,835,000 $24,268,467 $26,927,349 $29,834,692 $33,015,630 Interest Expenses: Interest on Bond ($1,383,286) ($1,383,286) ($1,383,286) ($1,383,286) ($1,383,286) Interest on Loan From Bank ($1,251,544) ($1,251,544) ($1,251,544) ($1,251,544) ($1,251,544) Total Interest Expenses ($2,634,830) ($2,634,830) ($2,634,830) ($2,634,830) ($2,634,830) Net Profit before Tax $19,200,170 $21,633,637 $24,292,519 $27,199,862 $30,380,800 Income Tax Expenses ($5,760,051) ($6,490,091) ($7,287,756) ($8,159,959) ($9,114,240) Net Profit after Tax $13,440,119 $15,143,546 $17,004,763 $19,039,903 $21,266,560 Gross Profit Margin 40.00% 40.00% 40.00% 40.00% 40.00% Net Profit Margin 12.80% 13.15% 13.46% 13.75% 14.00% Return on Equity 49.88% 56.20% 63.10% 70.66% 78.92% Other Decision Making Models - Multi-Attribute Decision-Making Model There are different decision making frameworks that are accessible to the management of the ventures so as to assess the operations of the venture and embrace decisions appropriately. The utilization of the decision framework is subject to the management and the management undertakes effective use according to their requirements in the expansion of the Smart Watch project. There are different models that include the Multi-Attribute Decision Making Model, Multi-Criteria Decision making Model, Analytical Hierarchy Process and so forth (Dixon et al., 2013). These frameworks can be utilized as a part of an efficient way for Smart Watch Project and effective decisions concerning the operational exercises can be developed, which would mean the conclusion of the venture before the due date appointed. MCDM in Financial Decision Making for Projects The MCDM procedure makes utilization of tools and mechanisms that assists in the nature of the financial method for the process of economic making of decisions and to the nature of the resulting decisions (Coates IV 2014). MCDM considers issues associated with the financial decisions as a multiple criteria as problems related to the financial decisions happen because of the mistakes in various figures of accounting, which could affect the financial statement of the Smart Work Project. These issues for the most part emerge because of the compelling task of the insufficient capital and the substitute usage of the assets. Thus, it is fundamental for the management of the Smart Watch project to look in to the designated assets in an efficient way by taking help of this model as this would be effective to use the resources needed for the undertaking in the areas were these resources require more importance so the venture can be finished inside the stipulated time and the every last part o f the venture gets equivalent significance according to the requirement. MADM The Multi Attribute Decision Making framework is a critical piece for the innovative decision for science. It expects that there is different arrangement of substitutes for the different traits, which the management who are making decisions requires to assess and analyse. The objective of this model has been to find the requested substitute for helping the procedure of decision making. The issues that have been related with the MADM has been corrected by taking assistance of the conventional procedures like the analytical hierarchy process, simple additive weighing method and TOPSIS method (Campbell, Brown 2015). The MADM procedure investigates the distinctive features associated with the venture as opposed to the cost. In this situation, it has been watched that Smart Watch Project has looked in to the traits of providing innovative products to the consumers of Australia so that they can improve their standard of living and have a better life for themselves. It is even observed tha t caring for the essential requirements of the consumers by providing all the beneficial services within a watch is an effective process for the expansion of the project as well increase in the revenue of the project and the organization as well. Analytical Hierarchy Process (AHP) The Analytical Hierarchy Process is a method that is organized for assessing and sorting out the decisions that are in nature complex and this has been completed by relying upon the scientific procedure (Pearce et al., 2013). Concerning the Smart Watch Project, the fundamental goal has been to build a multifunctional smart watch that would be beneficial for every consumer with a stipulated time and at an economical cost. It is seen that different criteria are built by taking a look at the cost, effectiveness and demand (Sderqvist et al., 2015). These perspectives would be taken into in picking the best substitute technique that would be utilized by the management keeping in mind the end goal to complete the venture successfully. Henceforth, one might say that making usage of the policies and strategies would be effective for the enhancement of the smart venture adequately. Best Practices for Business Growth One of the greatest difficulties in business development is sustainable development. The long and the short term profits require to be remembered while executing the processes for the growth of the business. Various organizations have distinctive explanations behind the intention of sustainability yet the principle ideas are constant. The preciseness of the business intentions should be kept up. The concerned personnel should over and again look at their sense of intention and in addition guarantee that the company fills the need of the venture appropriately. There ought to be a steady and in addition predictable sense of development (Gigler et al., 2014). It additionally ought to include persistent pragmatic advancement. The real purpose for an organization adds to their USP. It is better for an association to have an unmistakable value and aim for the intention of business development. The smart watch venture needs to use the acts of security, safety and improvement in the lifestyle of the consumers which is one of the highlights the venture looks to accomplish (Wakefield, Myers 2016). Collaboration as well as partnership is likewise a critical factor for the fruitful foundation of the business development. Despite the fact that accomplishing everything uniquely during the time of a business venture is enticing and sensible if there should arise an occurrence of very little accessibility of funds, the best thing to do is to locate the most ideal partners for the smart watch venture. The coordinated effort with the appropriate partners if there should arise an occurrence of the smart watch project will help in the growth and effective development and will likewise be continuous. It is important to know precisely what to do at a specific time in light of the fact that the demands of various ventures are unique. The undertaking ought to be done such that the idea of smart watch venture is considered fruitful and aids in the foundation of the effective strides in the business development. The smart watch venture ought to have appropriate offices alongside the idea of development and also recovery alternatives. A business ecosystem is a financial society of companies and in addition people who function in various ways. It is important to comprehend the requirements of the smart watch venture are not quite the same as other commercial ventures like shopping centres etc. The business ecosystem motivates the organizations undertaking the inventive action and also troublesome tasks by accomplishment of their competitive capacities (Dixon et al., 2013). With a specific end goal to guarantee that the business needs of a specific undertaking are met, it ought to be maintained that the management or the leaders under whom the venture is occurring, should know each specific phase of development. Retrospection, mindfulness, and in addition a key feeling for strategy is essential which is both for the short and term ventures (Solomon et al., 2015). The management accountable for the smart watch venture ought to receive a versatile and in addition an adaptable nature of initiative. By being careful and additionally understanding the business procedures provides the best outcomes for any given task. The sustainable investment in the abilities of individual employees and even with the company helps in the development of the venture (Psacharopoulos, 2014). Business Growth Strategies The business growth strategies should concentrate on the idea of the current venture. It ought to be comprehended that the idea of the smart watch venture is extraordinary. The development of the smart watch venture should be the principle centre of the organization that is busy with the construction of the venture. The production ventures should be undertaken appropriately and the information should be expressed ahead of time too (Zhou et al., 2015). The smart watch venture should not be manufactured in such a way so that it fails to gain the heart of the consumers but should be manufactured with the best quality and features so that new and potential consumers purchase the product as well leading to the rise in the customer base. In other words, it can be explained that smart watch venture looks to comply or correspond with the revolution in the watch technology in order to become a positive impact on the consumers to improve their life style with the help of effective lifestyle and positivity. The cost productivity should be remembered while continuing the smart watch venture. The cost of raw materials is significant and they likewise cause the drainage of the key resources from the various other sectors (Liu et al., 2014). The disclosure to the impact of private financing activities demonstrates that the cost funds are never conveyed. The decreasing of the production quality and the facilities ought not be done in an approach to really hurt the consumers. Profitability Index The index of profitability is also known as the value investment or the profit investment ratio for any manufacturing and production venture and therefore this has been process for project ranking as it grants to quantify the amount of the value established due to the per unit investment. In accordance to the present profitability index of Smart Watch Venture, it can be stated that the profitability index has been 1.96 and hence it can be said that this venture would lead to efficient development of the venture within the scheduled time. Recommendation The venture has been set up by embracing various researches within the Australian market and assessment of the financial reports, project background and the extent of the venture. The nation has been considered as the democracy based market that is energetic and has been working like this for more than 25 years and this development has been conceivable because of the lower level of recessions. The efficient procedure of the legislature has benefitted the Smart Watch Venture due to a viable and effective functioning legal framework. The presence of such a efficient legal framework and government controls has uncovered a successful economic process and this has inspired the private sector organizations to embrace interests in such activities. Thus it is seen that Technocrat has shown interest in the Smart Watch Venture and this in a way would enhance the income for the organization and even conclude the venture in an efficient way. As per the financial anticipations of the Smart Watch Venture it has been watched that this project would be extremely possible to ensure the development and steadiness in the Australian region. It has been prescribed that the venture ought to embrace the practices that they have been performing right now as this has been a successful procedure and efficient utilization of the venture would prompt the effective rate of profitability for Technocrat and conclusion of the venture within the scheduled time period with effective features in the smart watch making the life of the consumers easy and beautiful. Reference Ansar, A., Flyvbjerg, B., Budzier, A., Lunn, D. (2014). Should we build more large dams? The actual costs of hydropower megaproject development.Energy Policy,69, 43-56. Ayyub, B. M. (2014).Risk analysis in engineering and economics. CRC Press. Bateman, I. J., Harwood, A. R., Mace, G. M., Watson, R. T., Abson, D. J., Andrews, B., ... Fezzi, C. (2013). Bringing ecosystem services into economic decision-making: land use in the United Kingdom.science,341(6141), 45-50. Blau, F. D., Ferber, M. A., Winkler, A. E. (2013).The economics of women, men and work. Pearson Higher Ed. Brazier, J., Ratcliffe, J., Saloman, J., Tsuchiya, A. (2017).Measuring and valuing health benefits for economic evaluation. OXFORD university press. Campbell, H. F., Brown, R. P. (2015).Cost-benefit Analysis: Financial and Economic Appraisal Using Spreadsheets. Routledge. Coates IV, J. C. (2014). Cost-Benefit Analysis of Financial Regulation: Case Studies and Implications.Yale LJ,124, 882. Cooper, W., Garcia, F., Pape, D., Ryder, D., Witherell, B. (2016). Climate Change Adaptation Case Study: Benefit-Cost Analysis of Coastal Flooding Hazard Mitigation.Journal of Ocean and Coastal Economics,3(2), 3. Dixon, J. A., Carpenter, R. A., Fallon, L. A., Sherman, P. B., Manipomoke, S. (2013).Economic analysis of the environmental impacts of development projects(Vol. 1). Routledge. Dixon, J., Scura, L., Carpenter, R., Sherman, P. (2013).Economic analysis of environmental impacts. Routledge. Dunn, W. N. (2015).Public policy analysis. Routledge. Fleurbaey, M., Abi-Rafeh, R. (2016). The use of distributional weights in benefitcost analysis: Insights from welfare economics.Review of Environmental Economics and Policy,10(2), 286-307. Gigler, F., Kanodia, C., Sapra, H., Venugopalan, R. (2014). How Frequent Financial Reporting Can Cause Managerial Short?Termism: An Analysis of the Costs and Benefits of Increasing Reporting Frequency.Journal of Accounting Research,52(2), 357-387. Griffin, R. C. (2016).Water resource economics: the analysis of scarcity, policies, and projects. MIT Press. Hausman, D., McPherson, M., Satz, D. (2016).Economic analysis, moral philosophy, and public policy. Cambridge University Press. Keohane, N. O., Olmstead, S. M. (2016). Introduction. InMarkets and the Environment(pp. 1-10). Island Press/Center for Resource Economics. Kind, J. M. (2014). Economically efficient flood protection standards for the Netherlands.Journal of Flood Risk Management,7(2), 103-117. Laurans, Y., Rankovic, A., Bill, R., Pirard, R., Mermet, L. (2013). Use of ecosystem services economic valuation for decision making: Questioning a literature blindspot.Journal of environmental management,119, 208-219. Lawrence, M., Nguyen, P., Skolnick, J., Symoun, J., Hunt, J., Alfelor, R. (2015).Transportation Systems Management and Operations Benefit-Cost Analysis Compendium(No. FHWA-HOP-14-032). Lind, R. C., Arrow, K. J., Corey, G. R., Dasgupta, P., Sen, A. K., Stauffer, T., ... Stockfisch, J. A. (2013).Discounting for time and risk in energy policy(Vol. 3). Routledge. Liu, Y., Guo, X., Hu, F. (2014). Cost-benefit analysis on green building energy efficiency tec Marglin, S. A. (2014).Public Investment Criteria (Routledge Revivals): Benefit-Cost Analysis for Planned Economic Growth. Routledge. Miklyaev, M., Afra, S., Schultz, M., Awantang, A., Laval, M. (2017).Cost Benefit Analysis of Malis Sorghum and Millet Value Chains(No. 2017-03). JDI Executive Programs. Mishan, E. J. (2015).Elements of Cost-Benefit Analysis (Routledge Revivals). Routledge. Morgenstern, R. D. (2014).Economic analyses at EPA: assessing regulatory impact. Routledge. Muennig, P., Bounthavong, M. (2016).Cost-effectiveness analysis in health: A practical approach. John Wiley Sons. Nas, T. F. (2016).Cost-benefit analysis: Theory and application. Lexington Books. Pearce, D., Barbier, E., Markandya, A. (2013).Sustainable development: economics and environment in the Third World. Routledge. Posner, R. A. (2014).Economic analysis of law. Wolters Kluwer Law Business. Psacharopoulos, G. (Ed.). (2014).Economics of education: Research and studies. Elsevier. Qadir, M., Quillrou, E., Nangia, V., Murtaza, G., Singh, M., Thomas, R. J., ... Noble, A. D. (2014, November). Economics of salt?induced land degradation and restoration. InNatural Resources Forum(Vol. 38, No. 4, pp. 282-295). Ruprez-Moreno, C., Prez-Snchez, J., Senent-Aparicio, J., Flores-Asenjo, P., Paz-Aparicio, C. (2017). Cost-Benefit Analysis of the Managed Aquifer Recharge System for Irrigation under Climate Change Conditions in Southern Spain.Water,9(5), 343. Saint?Geours, N., Grelot, F., Bailly, J. S., Lavergne, C. (2015). Ranking sources of uncertainty in flood damage modelling: a case study on the cost?benefit analysis of a flood mitigation project in the Orb Delta, France.Journal of Flood Risk Management,8(2), 161-176. Sderqvist, T., Brinkhoff, P., Norberg, T., Rosn, L., Back, P. E., Norrman, J. (2015). Cost-benefit analysis as a part of sustainability assessment of remediation alternatives for contaminated land.Journal of environmental management,157, 267-278. Solomon, B., Richter, A., Melese, F. (2015). F. Melese, A. Richter and B. Solomon," Chapter 1: Introduction, Military Cost-Benefit Analysis (CBA): Theory Practice" in:: Military Cost-Benefit Analysis: Theory and Practice (Routledge Studies in Defence and Peace Economics) June 2015 pp. 1-20. Tietenberg, T. H., Lewis, L. (2016).Environmental and natural resource economics. Routledge. Wakefield, J. R., Myers, K. (2016). Social cost benefit analysis for deep sea minerals mining.Marine Policy. Winkler, H., Fecher, R. S., Tyani, L., Matibe, K. (2016). Cost benefit analysis of energy efficiency in low-cost housing. Yang, C. F., Wang, P. Z. (2014). Analysis of Economic Benefit of Tiexi Works Village Steel Structure Move Back Houses in Shenyang. InAdvanced Materials Research(Vol. 838, pp. 3147-3150). Trans Tech Publications. Zhou, C., Gong, Z., Hu, J., Cao, A., Liang, H. (2015). A cost-benefit analysis of landfill mining and material recycling in China.Waste Management,35, 191-1