...Having a research strategy to saving money can be very useful in providing a first step in reaching the goal of financial security. It has been argued that the American society is materialistic and accustomed to instant gratification. Easy lines of credit and lack of proper money management have led many in deep financial straits. The recent high unemployment numbers and the deep recession have contributed greatly to this. However not everyone was affected. One major reason is because some were conscious about saving for a rainy day. In fact “Compared to a year ago, 50 percent more Americans are beefing up their savings account, according to a new survey by Money Management International, Houston” (Ginovsky J., 2009, p.12). Americans are realizing that savings must become a priority. I for one can honestly say that I am one of those Americans. I’m starting to feel the need to start saving more and spend less. My personal situation did changed significantly in the last year and is the driving force behind trying to save more. The fact that my son came into our lives is a wonderful experience that I would never trade for anything in the world. However the reality is that it does add a strain on the budget. Adding to this is the fact that my wife quit her job to stay home and raise our son. Also the decision to go back to school is another contributing factor that stretches the budget even more. On top of all of this within the last year I knew I would loose...
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...getting rich is getting started, not being the smartest person in the room." - Ramit Sethi Most of us want to live a financially stable life, but become too afraid to get started because we have all these negative views on money, credit cards, or anything that has to do with the financial world. I have come across many negative thoughts that have paralyzed me into starting a simple bank plan for my funds to grow. My ultimate goal is to let go of those fears that are holding me back from making my bank account become stabilized. This paper will refer to Mo Tzu's essay "Against Music;" Ramit Sethi in his book "I Will Teach You to Be Rich;" Gandhi’s essay “Economic and Moral Progress;” a Chapter of the New Testament in the Bible, Luke chapter 16; and an online article "Zen Habits" by Leo Babauta. I came to the realization once I started doing research and reading more books on finances that in order for me to come up with a plan to help my money flourish into something more, I need to cut off all the learned negative thoughts about money. A lot of these negative thoughts are created because we lack the knowledge on banks and bank accounts that can help us become more successful in our finances. Once I started my research I learned great ideas and strategies on how to grow financially. Not only will I need to carefully plan out my goals based on what I have learned to get started, but I also need to learn how to separate the needs from my wants. Once I have myself a good plan, I...
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...ACTIVITIES | RESOURCES | ASSESSMENT | 1. Introduction to Commerce | | | | | | 1 | A) Organizational Structure of Commerce | 1. Define the terms within the organizational structure. 2. Draw up and complete the organizational structure of commerce. | Graphic OrganizerMnemonic Strategies | Question and AnswerIllustrationsBingo | Wall ChartsMini chart print outs Commerce Textbooks: (Listing of texts attached) | Quizzes:-Chart completion-DefinitionsBingo Games | | B) Needs and Wants | 3. Distinguish between needs and wants. 4. Discuss the role played by producers in the satisfaction of consumer needs and wants | SPAR ( Spontaneous Argumentation)Graphic Organizer | DiscussionsQuestion and Answer | Commerce TextbooksPowerPoint PresentationInternetLaptop | Assignment-categorizing needs and wants. | 1 | C) Economic Systems | 5. Identify and explain types of economic systems | Graphic Organizer | Questions and Answers | Chart PrintoutsCommerce Textbooks | Quiz | 1 | D) Direct and Indirect Production | 6. Distinguish between direct and indirect production 7. List and explain the commercial occupations. | Graphic OrganizerCooperative learningMnemonic Strategies | Role playDiscussionsGraphic Organizer | Commerce Textbooks | Assignment-categorizing occupations as either a direct service or indirect service | 2. Production and Distribution | | | | | | 2 | A) Stages of Production | 1. Define the term production 2. Identify the stages...
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...contribute to these trends, including the financial Instability of these residents. This explains the strategy to assist Income-earning families living in homeless shelters to build savings to support their move out of shelter and ultimately their long-term financial stability. Income-earning shelter residents’ ability to build savings to support their money before they move out of shelter. Families working to move out of shelter encounter multiple barriers: limited and unstable income; uncertainty about their ability to live within a budget, negative credit and debt histories that hinder their prospects with future landlords; and being un- or underbanked....
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...1.1 Marketing process is the process where the company start analyzing and identifying the potential opportunities of the company selecting the target market, and managing the marketing effort. Marketing process is a series of actions and reactions between the customers and the company. The steps of the marketing process are: Analyzing marketing opportunities It is the first step of the marketing process, and the main goal here is to analyse what kind of opportunities can you have is the market and to identify the customer’s needs and wants and try to satisfy them. This step is useful to understand the environment in which the company is operating and to analyse the long- run opportunities in this market. Marketing analysis is indispensable because it allows the company to get enough information about the competitors, costumers, government, and changes in the environment to be prepared and decide and determine what are their opportunities, Selecting target markets Now the company knows how is the market they will deal, they must be customer centred; they have to know what they want and start competing the costumers with the competitors, but they need to know specifically who are they customers. This process is called market segmentation and is the process where the company define and divide the market into different and smaller groups with different needs and behaviour. And market targeting is the processes of analyse and select one or more of the markets segments...
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...revenue, and profit, the rule of 72, calculating interest, and compound interest. We will use math concepts and rationale businesses and how companies can use our math concepts and rationale to achieve financial sustainability. What is Financial Sustainability? * Define it! * Is it a buzzword? * What does it mean to an individual? * What does it mean to an organization? * Is it important for a business owner to understand financial sustainability in both personal and professional areas? Financial sustainability has become something of a buzzword in the non-government sector (NGO) sector. We believe that it’s an important financing strategy to help companies decide what opportunities and activities the organization should pursue once they develop a financial strategy (Mango Guide, n.d.). “The first step to helping an individual or business understand their financial health and well being is how we define financial sustainability? What is financial sustainability? To an entity, financial sustainability refers to the ability to sustain itself financially. To an individual, this means to financially live within one’s means” (University of Phoenix, 2010). When our team met with ABC Co. we gave first gave the chief financial officer and his team the financial sustainability definition for both an individual and an entity. Why did we give them both definitions? Because we believe that if you can’t manage your individual finances you probably...
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... Thomas Money Service Inc. and FGI Finance Business Proposal Economics/561 Instructor William Kutza May 27, 2013 Business Proposal for Thomas Money Service Inc. The proposal recommendations to analyze the situation at Thomas Money Services Inc. and FGI Finance attributes and introduction a plan to improve existing goods and services. The recommendation suggests applications for increasing revenue, maximizing profits, achieving ideal production levels, determining fixed and variable costs, and identifying methods to reduce the costs. The business proposal will establish that it is in the best interest for both clients and consumers. The current economy has been declining which has driven Thomas Money Service Inc. to find other methods to stabilize their profits, reduce loss, and help to gain or maintain market share. Thomas Money Service Inc. has been hit by the slow economy and the decease in the homebuilding market. The business proposal model will help Thomas Money Services Inc. to put in place applications to increase revenue, profit maximization quantities and to establish a mix of pricing and non-price strategies with low marginal cost and revenue theories. These applications will offset the negative impact of the decease in the homebuilding market. The business proposal presents methods to overcoming barriers to entry in to the market, how to increase product differentiation, how to input applications that will show potential cost savings for productivity...
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...Assignment: Prepare a short (5-7pp) paper explaining why an investment strategy might be an appropriate response to slow growth and also noting the possible downsides to such an approach. Your audience is a senior decision maker in business or government who is trying to figure out economic policy to support. You may assume that the decision maker has some knowledge of macroeconomics so you may use technical terms to keep your paper relatively brief. One of the greatest consequences of the 2007-2009 recession crisis is the scarcity of investments due to lack of confidence by investors and a decrease in lending by banks. This lessening of investment and lending was followed by a period of slow economic growth and a difficult return to a lower level of unemployment. The economic growth of a country is measured by the increase of gross domestic product (GDP). To accelerate economic growth requires stimulating the factors that make up the GDP. GDP is calculated by adding together the following diverse factors: consumption level, investment level, government purchases and net export. These factors and the interactions that occur among them define the level of the aggregate demand and the supply curves and consequently determines the level of equilibrium point, which in turn determines the price level and the value of the GDP. To encourage economic growth, the government has several tools at its disposition that can impact the aggregate supply and the aggregate demand...
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...frame certain decisions to benefit from the disparities in my own cognitive accounting. As a consumer, I will address how to avoid the pitfalls posed by the inequalities of again, my own cognitive accounting (Tvorik, 2014). Mental accounting is a term that describes how people categorize and quantify economic outcomes (Thaler, 1980). This is similar to financial accounting in the way of using a system of debits and credits and affects how people spend and save their money, thus consumer decision-making. Mental accounting determines “when an individual chooses to act or postpone a purchase, how he or she perceives gains and losses, and how timing bears on the individual’s choices” in relation to the three mental buckets: current income, current wealth and future income (Tvorik, 2014). It is a figurative, or mental, balance sheet that compartmentalizes income and spending (Vedantam, 2007). People will spend and save differently depending on how the money was received, earned income or “free,” unexpected money such as a tax return or lottery winnings. It can also affect decision-making in terms of when the good or service is realized. For example,...
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...UNIVERSITY OF NAIROBISCHOOL OF BUSINESSTHE IMPACT OF MOBILE MONEY SYSTEM INNOVATION ON THE SAVINGS LEVEL OF LOW AND MIDDLE INCOME EARNERS IN KENYABY MASILA JOSHUA MULI D33/32510/2010 VIRGINIA NYAKIO WAIRIMU D33/20134/2009 DECIMA AKOTH OYUKE D33/32014/2010| MUTINDA ELIZABETH MUMBUA D33/32196/2010| | | | | A Research Project Submitted in Partial Fulfillment of the Requirements of the Award of the Degree of Bachelor of Commerce 2013 Table of Contents INTRODUCTION 2 1.1 Background of the study 2 1.2 Problem statement 4 1.3 Objectives of the study 6 1.4 Significance of the study 6 LITERATURE REVIEW 7 2.1 Introduction 7 2.2.2 Buffer stock model 10 2.2.3 Institutional theories 10 2.3.1 Income and savings 11 2.3.2 Reasons for savings 12 2.3.3 Precautionary/emergency reasons 12 2.3.4 Household reasons: 13 2.3.6 The need to save 15 2.3.7 The population structure 16 Methodological review 20 2.6 Summary 21 RESEARCH METHODOLOGY 22 3.1 Introduction 22 3.2 Research Design 22 3.3 Research population 22 3.4 Data Collection 23 3.5 Validity test and reliability test 23 3.6 Data analysis and Presentation 24 DATA ANALYSIS & PRESENTATION OF FINDINGS 26 4.1 Introduction 26 SUMMARY, CONCLUSION AND RECOMMENDATIONS 35 5.1 Summary 35 5.2 Conclusion 36 5.3 Policy Recommendations………………………………………………………………………….37 5.4 Limitations of the study …………………………………………………………………………...
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...6 Opportunities 6 Threats 7 Market Objectives 7 Product Objective 7 Price Objective 7 Place Objective 7 Promotion Objective 7 Marketing Strategies 7 Product Strategies 8 Price Strategies 8 Place Strategies 8 Promotion Strategies 9 Tactics and Action Plan 9 Product Action Plan 9 Price Action Plan 9 Place Action Plan 10 Promotion Action Plan 10 Monitoring Procedures 10 Introduction In the years that Company G has been on the electronics market, we have earned a reputation that is associated with quality, dependability and innovation. Our XG brand is well known by consumers nationwide. Our latest venture, into automated pet grooming supplies, will continue to impress our loyal customer base. The XG Automatic Dog Washer is a state of the art product that brings convenience, safety and time savings to pet owners. Mission Statement “We enable consumers to improve the quality and convenience of their lives by providing high-quality, innovative electronic solutions.” The Product Company G’s mission statement promises consumers improvement in the quality and convenience of their lives, by the use of our innovative, high-quality, electronic products. The XG Automatic Dog Washer delivers everything our mission statement promises. We used the innovative technology in every process from design to production. Research has shown that we go above and beyond in the delivery of improvements to quality and convenience of life. The XG Automatic Dog Washer...
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...QUARTERLY NEWS AND TOOLS FROM TIAA-CREF | SPRING 2005 Three Steps To Improve Your Financial Planning Understand your savings and investment habits Create a winning budget Find the right retirement product for your needs What’s the future of Medicare? COMMENT BERT SCOTT Designing Products to Meet Your Financial Needs T hroughout our 87-year history, TIAA-CREF has been an innovator in the retirement investment field. We created the variable annuity, pioneered the use of real estate and foreign investing in pension plans and helped bring inflation-linked bonds to America. But stay tuned; there’s more to come. As the leader of TIAA-CREF’s Product Management area, I am proud to be part of the team that will be bringing you our newest products and services. At Product Management, TIAACREF’s “manufacturing” center, top-notch professionals develop new investment and insurance products and make sure those we already offer are still working for you. In a continually changing financial services marketplace, our mission remains simple: to provide the tools you need to help reach your financial goals. A large part of our work involves listening to you. This enables us to know what you need now, and what you may need down the road. So we begin the product design process by asking questions: What do you, our clients, want to accomplish? ■ How will those goals change over time? ■ What do you like about what’s currently available to you? ■ What do you need that we don’t offer...
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...“Financial Management.” Please respond to the following: * Imagine yourself as the financial planner for a small company with 100 employees. Briefly describe your (imaginary) business and describe your strategy for financial planning and managing assets. * Using the same scenario, determine how you would finance a five-fold expansion of your company. Explain your rationale. My small company is Terry’s Graphics. We do all different kinds of graphic design work from designing people symbols to put onto cars, to putting graphic signs onto cars, to Christmas letters, to newsletters, etc. Our financial plan will be a document which will specify the funds, which will be needed by Terry’s Graphics for a period of time. I am going to plan by determining what funds will be required during the planning period, when will it need additional funds, and where will we obtain the additional funds from. We will have short-term assets, long-term assets, and capital investment analysis. These assets will be overseen by Terry, the CEO of Terry’s Graphics, but one of our dedicated employees will actually put together the financial plan. I would finance a five-fold expansion of Terry’s Graphics by using short-term funding options. This would include using trade credit, short-term loans, and commercial paper. If necessary, we would also use long-term financing. This would include public sale of stocks and bonds, private placements, venture capitalists, private equity funds, and hedge...
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...company’s brand. Organizations are challenged with anticipating consumer’s needs and wants during the concept phase of creating the next company innovation. Products and services are the foundation of an organization existence. Incorporating new merchandise in a competitive marketplace and making it an exceptional product is always a challenge for any business. General Electric throughout history has embraced the challenge of creativity, innovation and meeting the needs of the consumer. This final marketing plan will describe General Electric’s new GE Space Saver Model 2012 marketing plan to create and bring to market a modern refrigerator that will save consumers time, money, space, and energy. This final marketing plan will provide an overview of the appropriate place and promotion strategy used to develop General Electric’s GE Space Saver. This market plan will summarize the promotion schedule and advertising plan, identify public relations opportunity for the GE Space Saver, analyze the effects of channel management decisions on marketing, select the appropriate distribution channel, address cost for placement, shipping, and middlemen, and develop a budget plan. The plan will also identify quantifiable elements that will be used to evaluate, monitor, and control effectiveness of the marketing plan. General Electric Company Overview General Electric is an organization that has evolved into a diverse pallet of business initiatives that range from lighting...
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...organization engaged in business activities, such as an agricultural cooperative, (Investopedia) Business is a crucial part of the economy. Without businesses there would be no revenue for the government to collect taxes and perform the daily activities necessary for our environment. Our government depends on the businesses to bring in money. If there were no businesses whether it is a small business or a large corporation, our economy would suffer. 2. Define economics and discuss the evolving global economic crisis? Economics: A social science that studies how individuals, governments, firms and nations make choices on allocating scarce resources to satisfy their unlimited wants. Economics can generally be broken down into: macroeconomics, which concentrates on the behavior of the aggregate economy; and microeconomics, which focuses on individual consumers. (investopedia) The global economic crisis was caused by improper use of foreign money. The government failed to regulate this activity so mortgages, hedge funds, investments were all affected. This is an ongoing situation with our economy because we are still borrowing money that we cannot afford to pay back leaving us in more debt which will eventually impact other countries that depend on our economy. 3. Discuss business opportunities in the world economy? Business opportunities in the world economy have expanded. With a series of ecommerce businesses that have developed over the years, allowed so many...
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