Student`s Name

Researchin Economics

Economicis broad disciplines that cover different aspects that affect ourdaily life. Thus, research in economics is not a novel academicpractice since formal efforts has been developed in this disciplineto engage new students in the practice of carrying out research.Models of economic research programs require both students andinstitution efforts. Therefore, instructors present suchopportunities by adding important research components to theeconomics courses. Furthermore, research on the application of activelearning methods indicates that new students learn more easily bydoing rather than listening to an economics expert who tells them howresearch is conducted. Thus, students in economics are expected tocomprehend a research problem in sufficient profundity so as to becapable of posing a question about it and examine the level ofevidence available in answering the research problems, as well ascollecting data that provides a solution to the research question(Kardash 191). Therefore, this paper seeks to provide new studentswith an expectation for writing, reading and researching ineconomics, and also help new students understand ways in which theseliteracies can be explored to establish and communicate knowledge inthe discipline of economics.

Althoughthere is no suggested extent to which institutions need research ineconomics to be, one study documents the writing requirements ofresearch in economics (McGoldrick). According to this study, most ofthe institutions were found to have formal writing requirements suchas senior seminars. These senior seminars are designed to permitstudents to reinforce their knowledge of a certain field of economicsand to practice the application of economic theory. Thus, studentsenrolled in economics courses are able to improve their writingskills through senior seminar programs. Additionally, economicscourses are devoted to the research process and thus, students arerequired to apply the economic research tools that they have managedto master to a certain research issue. Furthermore, the incorporationof service-learning requires students to spend some time in volunteerservices to relate their knowledge of economic theories that theyhave learnt in classroom setting (Poirrier 88).

Oneof the economics professors said that it was quite a challenge fornew students wishing to undertake research in economics since many donot know how to narrow down their interests into an economic issue.Professor Franklin of faculty of economics in the University ofToronto told me that it is significant for the students todistinguish between selecting a topic and spotting an economic issue.For instance, a student may be interested in researching about laboreconomics as a topic, but their economic research problem should beas narrow as possible. He added that many students have the abilityof generating a myriad of questions about a topic, but coming up withan effective and specific research question is such a daunting taskthat is an integral factor of determining the prosperity of theresearch in economics. Therefore, effective economic researchquestion has distinguishable characteristics that can be connecteddirectly to the research process. Effective economic researchquestion is problem-oriented, significant, analytical, and suitableto analysis and feasibility of economic research (Greenlaw 14-18).

Equallyimportantly, research in economics requires the development of goodliterature review. Therefore, new students are required todemonstrate their skills in identifying and summarizing publications,articles and books that have information regarding the economic issueunder research. Students are also urged to employ of internet forfurther search of relevant literature. One of the economic analysts,Mr. Ardian Fullani, told me that in spite of the students’ skillsof synthesizing literature, they are likely to encounter a problem ofproviding their own contribution and analysis. He added that studentsare unable to critique literature developed by professionals and,therefore, they are unable to interpret the results presented henceunable to recognize gaps in the prevailing literature in economics.For students to overcome these hurdles, they need to read andcritique many of the scholarly articles to further their knowledge ofdeveloping an excellent economic literature, as well as identifyingexisting gaps in the literature (Tsiakis, Theodoros &amp Panagiotis201).

Developmentof the structured arguments through economic analysis is achallenging task that most of the students encounter in the researchprocess. Therefore, detailed descriptions of research components cancommunicate the quality and form of economic analysis that isanticipated in the research process. Although students are competentin synthesizing and summarizing literature, conducting their ownoriginal economic analysis is absolutely new to them. Therefore,students should exercise writing, reading and researching ineconomics so as to be professionals in conducting their own economicresearch in the most plausible ways (Bowmaker 141).

Mostsignificantly, research in economics that expects to present originalwork has appended extra hurdles to overcome. Therefore, students havea tendency of falling back to what other people have done instead ofperforming and presenting original arguments and evidence. Persuadingthe audience of the legitimacy of the claims relies on the logicalprocess and the level of evidence presented. Although many studiesthe students attempt involves applied empirical economic research andthus inductive in a way, both warrant-based and deductive argumentsmay be employed as substitute techniques of analytical reasoning(Greenlaw 57-59). Therefore, students in the faculty of economics mayexpand an understanding of these techniques so as to appreciate thefact that audiences have to be persuaded by the level of the evidenceused in research.

Whendeveloping theoretical economic model, students should be able tointroduce economic models that assist them to have insight of aparticular economic phenomenon. Therefore, it is necessary to developeconomic models mathematically while ensuring their consistency.Mathematical arguments are employed to interpret assumptions ofequilibrium or a fixed state. The mathematical interpretation helpsthe students to track changes in various economic variables which inturn help in understanding the behavior of an economic phenomenon inthe long run. It important for the students to know that theoreticalaspect of economic research can be used to solve the outlined model.Therefore, an excellent theoretical model captures a greater aspectof reality since the value of an economic model tends to hinge on theplausibility of the fundamental assumptions. In addition, studentsare expected to haves skills in the development interpretation ofgraphs in economics so that they are able to deduce some of economicaspects such as demand and supply (Sampat 30).

ReflectionMemo

Thisassignment, though challenging offered me the opportunity to learnnew methods and ways of presenting information from differentacademic sources and from the vintage point of economists. First,conducting an interview with a professor of economics was not easy,and so was interview with an individual practicing economics(economic. I decided to discuss one of the most critical economictopics that relate to the economic research and what new studentsshould expect in the faculty of economics. Analysis of the two mainarticles has helped me learn new ways and methods of presentinginformation, communication skills and writing techniques that bestexemplify economic principles and knowledge in the realm of research.I have learnt that economic principles cannot be fully explainedwithout the use of the economic model or mathematical principles.From a professional perspective in the field of economic, I gatheredthat economics transcends across many interrelated disciplines and isclosely intertwined with mathematics, management and commerce. Froman interview with a professor, I gathered that economic conceptsprinciples exemplify both micro and macroeconomic forces that affecteconomic aspects in writing, reading and researching a particularproblem in economics.

Additionally,I have learnt more broadly on method-oriented work used in thedevelopment of research designs which have remained much influentialin the empirical economics especially where data is connected withthe theory in the most transparent manner. In the process, I havebenefited immensely from the economics points view since research ineconomics will not become a hurdle anymore. Therefore, I am at a veryexciting point since many economics are starting to incorporateinsights from other fields. It is the same as evolution of economicsthat was based merely on theoretical and then becomes more empiricalthrough research. I believe that economics is going to be much morescientific as there are a number of problems that require efforts ofeconomists to make the word a better place in many important ways.

Interviews

RespondentA

Dr. Franklin

Position: EconomicsProfessor

Questions

Whatis the importance of carrying out research in the field of economics?

Emphasison economic research for both experimental and microeconomics enablesthe analysis of various vital non-economic factors such as socialnorms, fairness, and reciprocity for modern economic life.

Whatis the role of an economist in the research?

Therole of economist is to observe trends in economic data and facts tocome out with the optimal equilibrium in relation to the factorsaffecting the economic growth.

Whatshould new students in the faculty of economics bear in mind beforethey conduct any economic research?

Onething they should know is that there is a way we conduct research inthe faculty of economics. It is different from other disciplines.First, before carrying research students should know what kind ofresearch they are about to undertake, either applied, analytical,descriptive, or subject-matter research. Lastly, they should knowthat most of the economics research contains research methodologythat tries to answer that research question.

Whatskills should new students develop so that they are able to carry outeconomic research?

Theyshould know how to form economic functions so that they are able toestablish causal relationships between independent variable and thedependent variables.

RespondentB

Mr. Ardian Fullani

Position: Economic Analyst

Questions

Whatis the importance of carrying out research in the field of economics?

Undoubtedly,accurate and timely economic research is significant in carrying outmore plausible economic policies for the purpose of fosteringnon-inflationary and a stable growth and consequently, coping up withrisks under a rapid and dynamic integration of our economies.

Whatis the role of an economist in the research?

Economistshave responsibilities of ensuring an optimal equilibrium between theeconomic research significance to financial stability or monetarypolicy, their eminence and well-timed availability.

Whatshould new students in the faculty of economics bear in mind beforethey conduct any economic research?

Thenew economics students should remember that economic researchutilizes economic data as its central input. Therefore, theavailability and eminence of economic data is a major factor fordelivering accurate and timely economic research. However, theavailability of economic data cannot be regarded as satisfactory,since collection and calculation of the statistical foundation arealso taken into account.

Whatskills should new students develop so that they are able to carry outeconomic research?

Thestudents should acquaint themselves with econometric techniques,method of presenting economic information, communication skills andwring skills that best exemplify economic principles and knowledge.They should also learn how to make use mathematical and diagrams.

WorksCited

Bowmaker,Simon W. The Art and Practice of Economics Research: Lessons fromLeading Minds. Cheltenham, UK: Edward Elgar, 2012. Print.

Greenlaw,S. A. (2006) Doing Economics: A Guide to Understanding and CarryingOut Economic Research, Boston: Houghton Mifflin Company.

Kardash,C. M. (2000) ‘Evaluation of an Undergraduate Research Experience:Perceptions of Undergraduate Interns and their Faculty Mentors’,Journal of Educational Psychology, Vol. 92(1), pp. 191–201.

McGoldrick,KM. (2006) ‘The Senior Experience for Economics Majors: Resultsfrom a Survey of Departmental Practices’. Presented at the AmericanEconomic Association meetings, January 2006.

Poirrier,Gail P. Service Learning: Curricular Applications in Nursing. Boston:Jones and Bartlett Publishers, 2001. Print.

SampatMukherjee.Modern Economic Theory. New Age International, 2002. Print.

Tsiakis,Theodosios, Theodoros Kargidis, and Panagiotis Katsaros. Approachesand Processes for Managing the Economics of Information Systems. ,2014. Internet resource.

Local Healthcare Delivery

LOCAL HEALTHCARE DELIVERY 4

LocalHealthcare Delivery

Author`sName

Healthservices are the personal and non-personal services dealing withtreatment and diagnosis of diseases and the general restoration ofhealth (Bodenheimer &amp Grumbach, 2012). These services are visiblefunctions of a health system to the general public and users.Improving access and quality of services is determined by theavailability of resources such as money, equipment, staff and drugs.Bates &amp Rexford, 2012 argue that the community and primary careare essential in delivering healthcare services.

Localhealthcare has been developed to provide services as close to home aspossible. In delivering local healthcare, the key themes observedinclude improving access to local healthcare, supporting people withprolonged conditions and improving care for the old people in thesociety (Oleske, 2009). In strengthening local healthcare services,there is a need to enhance the integration between social andhealthcare and establish a locality network that will enable decisionmaking about development of services.

Themain objective of healthcare services is to protect and improveindividual`s health. There are a number of key components associatedwith this objective. To start with, patient safety should be assured,and patients should not be harmed by health services intended toimprove their health (Bates &amp Rexford, 2012). Effective systemsshould be employed to prevent medical errors from affecting thepatient. Secondly, effectiveness and timeliness are essential inhealth care services. Effective care is, as a result, of scientificevidence that after treatment, the desired outcome will be achievedwhile timeliness means meeting the patient`s needs on time.Furthermore, health systems should ensure equality in thedistribution of health care services (Oleske, 2009).

Thereare varying factors that influence the health of an individual theyinclude sex, age and heredity. Choices also affect the healthalthough they are mostly influenced by people`s experiences,environment and cultures (Oleske, 2009). In addition, social andeconomic factors such as education and income have a direct link onan individual`s health. The society structure is another keydeterminant on one`s health. This influences health throughdistribution of resources and public goods. Social support andnetworking help protect against health conditions (Bodenheimer&ampGrumbach, 2012).

References

Bates,L., &amp Rexford, E. (2012). Does regionalization of local publichealth services influence public spending levels and allocativeefficiency?

Bodenheimer,T., &amp Grumbach, K. (2012). Understandinghealth policy: A clinical approach.Norwalk, Conn: Appleton &amp Lange.

Oleske,D. (2009). Epidemiologyand the delivery of health care services: Methods and applications.New York: Springer.

A speech on how a keyboard of a piano is designed

HOW A KEYBOARD OF A PIANO IS DESIGNED 5

Aspeech on how a keyboard of a piano is designed

Outlineof a speech

I.Discussion about a piano and the keyboard as an integral part of it.

II.Uses of the keyboard of the piano

MainBody

I.The design of the keyboard

A.Components of the Keyboard

B.Materials used to make the keyboard

II.Suitability of the keyboard features to their functions

Conclusion

I.Review of the main points

II.Final thought on the design of the keyboard

ASpeech on how the keyboard of a piano is designed

Apianois apopularmusicalinstrumentbothat homeand othersettingswhereitis mostlyusedto entertainvariousindividualson variousoccasions.Neely &amp Pearl (2009), argue that changesin technology andotherrelatedinnovationshaveledto alterationsin thedesignandoperationsof thepianoto suitvarioususes.Thepianocan be usedby individualsforpersonalentertainmentorin concerts among otherfestivalswheretheintentionis to entertaina largegroupof peopleattendingtheoccasionin question.

Thebasicaspectof a pianois thekeyboard,which users normallyincorporatein theproductionof thesuitablesoundsthat are essentialfortheir entertainmentpurposes.Thediversityof theneedsof theusers of thisdevicehas ledto theevolutionof thekeyboard,which remainsa fundamentalpartof theentiremachine.Pianosare currently beingusedby peopleacross agesandgender thustheneedforthedevelopers andmanufacturersto devise keyboardsthat can be usedby all thesepeopleto suitvariousmusicalneeds.

Thekeyboardisdesignedin a uniquewaythat allowsitto performits functionsdiligently. Ithas variouskeysandactionframes,which are madeby specialty experts.Thesekeysare made,in a way,wheretheypivotandbalanceon a set of at leasttwo rails.Theserailsare coveredwith feltto preventanyformof noise.There are numerousguidepinsthat insertedintheheadto facilitatetherequiredsupportforthekeys.As observed by Dummies (2014), modern daypianoshavekeysthat arecoveredby plasticmaterials,which portraya deviationfrom thetraditionaltechniquewheretheyusedto becoveredwith ebony.

Thereare variousholesthat are drilledinthepianoto facilitatetheanchorageof theguidepins,which offersthenecessarysupportto thepins.Thepianohas capstan screwsthat aremountedon theedgesof thekeyboardthat extendto theinsideof thepianoon, which theactionsits(How things are made, 1998).There is a totalof 88 individualkeyson theentirekeyboard,which arepolishedon thesides. According to Neely &amp Pearl (2009). All thesekeysare alignedto keyframes,whichmakesthem easytobeusedby differentusers fortheintendedoccasions.

Ithas to berememberedthata piano,justlike anyotherrelatedmusicalinstrument,has its keyboarddesignedin a mannerthat facilitatestheeasewith, which its users require.Muchemphasisas observedaboveisputinto thequalityof thematerialsthat are selectedto helpin designingandpreparinga keyboardthat can allowthevolumeof expectedactivitiesfora periodextendingto unforeseeable future.Asnotedin theintroductorypart,keyboardsare usedin variousoccasions,which differin themanner,in, which keyboardshave to beused.Thepianosmeantfordomesticusein privateresidentsof individualsmay havekeyboardsthat are madeof mediumqualitymaterialssince theextentandscopeof usageare limited(Dummies,2014).

Ontheotherhand,pianosthat aremeantforlargecommercialactivitiesas churchandothermusicalconcerts are madefrom topqualitymaterialsto enablethem to withstandtheintensityof usage.In suchoccasions,a singlepianomay be usedby morethan one individualto presentsoundsormusicof differentlevels thustheneedforthem to be strong.

Itcan, therefore,besaidthatkeyboards’of pianoshaveseentheir designschangeasa result,of modernization andalterationsof theusageunder, which theyarebought.However,thebottom lineis thatirrespective of theintendeduseof thepianothemanufacturersare ensuringthatthekeyboardis of theexpectedstandardsbothin termsof durabilityandquality.

References

Dummies,C. (2014). Pianoand Keyboard All-in-One For Dummies.Hoboken: Wiley.

Howproducts are made (1998). Retrieved July, 15, 2014 fromhttp://www.encyclopedia.com/topic/piano.aspx

Neely,B., &amp Pearl, D. (2009). Pianofor dummies.Hoboken, N.J: Wiley.

One-child policy in China  

ONE-CHILD POLICY 4

One-childpolicy in China&nbsp&nbsp

&nbsp&nbsp Author

June15, 2014.

One-childpolicy in China&nbsp&nbsp

Theone-child policy in China is a fallacy whose effectiveness does notadequately address the social, economic and environmental concerns.Although the policy is touted to have had a positive effect in regardto economic development in China by reducing population growth, thepolicy created other social and economic problems (Taylor,2005).The current fertility rate in China’s stands at 1.61 births perwoman according to recent population study conducted in 2009, this isa worrying trend to the country’s future productivity.

Socialpressure is on the rise due to abandoned children which have forcedthe government to build state-sponsored orphanages. The future of thepolicy will economically take toll on the young generation the onlychild in the family will shoulder the burden of taking care of twoparents, as well as their own family (Taylor,2005).Similarly, the government needs to set aside retirement funds for thesenior citizens to avert social and economic breakdown. Malthusobserved that, a nations population increases geometrically whileavailable food resources would increase arithmetically the higherthe population growth, the higher the rate of diminishing foodresources (Dolan,2000).

Ratherthan the forced policy programs to check on population, Malthusopined that, population would only be checked through ‘naturalmeans’ such as self-restraints, catastrophes, delayed marriages andothers. As such, political and economic interference in checkingpopulation was not morally right as natural forces of high populationand less food resources would reduce the population to a sustainablelevel. Assessing the draconian one-child policy as a means ofchecking population, one can assertively say that it was effective inchecking population albeit contrary to Malthus assumptions ofchecking population. However, less draconian policy would still havebeen ineffective as per Malthus theory population growth would stillhave been high(Dolan, 2000).

References

Dolan,Brian (2000). Malthus,medicine &amp morality: Malthusianism after 1798.Rodopi. ISBN&nbsp978-90-420-0851-9.&nbsp

Taylor,John (2005). ‘China&nbsp–One-Child Policy.’Australian Broadcasting Corporation.Retrieved 2014-07-15.

Author’s name

Insert surname 2

Instructors’ name

Question1

Ruzich and Grant evolved a theory of predatory lending and AmericanDream that emphasized that the use of a metaphor predatory lendingled to a decline of subprime mortgage crisis. This theory wasdeveloped in conclusion of the article Predatory Lending andDevouring of American dream by analyzing how the metaphor has beendistracted from contributing factors like gender, race, psychologicalmotivations and the nature of American capitalism. The housing crisiswas due to the cumulative effect of predatory lending andovercharging borrowers.

Question 2

The metaphor of predatory lending and the effects on the mortgagecrisis were the first arguments of Ruzich and Grant. They arguedthat the American dream has fallen, most people are losing theirproperties and investments due to predatory lending acts, and thishas caused conflicts in the American society. A survey of economistsconcluded that the effects of the mortgage crisis are the greatestthreat to Americans as compared to terrorist and conflict in MiddleEast. Americans form biased opinions on the mortgage crisis due topredatory lending. One would easily believe that lenders arepredators while the borrowers are the victims. These victims arethose facing financial difficulties. According to the authors,subprime mortgages are loans attracting a higher interest rate toborrowers that have led to the economy downfall.

Question 3

A national columnist Bob Herbert explains that the American dream isa nightmare and stresses the importance of federal borrowersprotection agency that will ensure that the public is safe fromunscrupulous bankers and the lender`s lending practices. Cal Thomasblames the failing Americans dream on government. He believes thatthe society is too dependent on government leaders allowingpoliticians to influence their sense of self-reliance. Cal explainsthat achieving American dream will be achieved by those with highmorals and good conduct in the society.

Question 4

Different options were considered in order to increase loans toborrowers who were initially considered poor credit risks. Forinstance, a change in federal government laws changed the mortgagepractices and homeownership opportunities to the American society.Further, technology changes in loan application and approval ofmortgages advanced leading to an increase in the number ofinstitutions offering loans. Since 1980s, the American economy hasbeen free of inflation and recession.

Case control study

CASE CONTROL STUDY 4

Casecontrol study

Author`sName

InstitutionalAffiliations

Acase-control study is an observational study that helps in evaluatingbetween exposures and diseases. This study traces backwards from theoutcome to the exposure (Merrill, 2010). For instance, in the outcomeof a disease, a case-control study will look backward in time ofexposures that might have caused the disease. Observational studiesyield useful scientific results with little effort, time and money ascompared to other study designs. Food borne diseases outbreaks areexamined using case-control studies (Merrill, 2010).

Themain purpose of observational studies is to find out if there is anyrelationship between a particular disease and the risk factor.&nbspThisis the first step in testing hypothesis. The second step in thedesign of a case study is defining a study population (Merrill,2010). This means that the study should be from the same population.Defining and selecting cases is an important step. This is made fromthe general population and data from a particular medical setting. Inaddition, one should select controls and measure the exposure. Thesemeasures help prevent researcher bias. Finally, there is theestimation of disease risk associated with the exposure (Merrill,2010).

Differentsteps have been adopted that help minimize different types of bias.To start with, selection bias occurs when a particular group differsin outcome as compared to other groups (Merrill, 2010). This bias canbe minimized through defined criteria of selection. For instance,define criteria of selection of both diseased and non-diseasedindependently in a case-control study and use random clinical trials

Secondly,information bias occurs when information is collected in differentgroups causing an error in the conclusion that lead tomisclassification. These errors are minimized through a standardizedprotocol of data collection by making sure that the methods andsources of data collection are common in all study groups (Merrill,2010). Further, one should adapt a strategy to assess a potentialinformation bias.

Confoundingoccur when the results between exposure and disease differ from thereal truth due to third variable influence (Merrill, 2010). Forinstance, the mortality rate of two cities can differ but with anadjustment for age, the rates do not differ. Confounding leads tosystematic errors that cannot be fixed. However, with known variablesthe effect is easily fixed.

Reference

Merrill,R. M. (2010). Introductionto epidemiology.Sudbury, Mass: Jones and Bartlett Publishers.

Istanbul process and its purpose

ISTANBUL PROCESS 4

Istanbulprocess and its purpose

Author’sname

:

TheIstanbul process and the purpose it serves

TheIstanbul process was founded to offer a podium to discuss issues inthe region, especially busting security, economic and securitycooperation in Afghanistan and her neighbors. This platform wasestablished in November 2011 in order to build on politicalharmonization between Afghanistan and her neighbors and its regionalassociates in handling common threats, such as counter narcotics,poverty, extremism and counterterrorism (Guttman,, 2013). The US,together with more than twenty other countries and organizations actas supporting countries to the process.

On26th of April, Almaty Kazakhstan became a host for thethird ministerial meeting of the Istanbul process. Leaders fromchina, India, Iran, Kazakhstan, Azerbaijani, Afghanistan, SaudiArabia, United Arab Emirates, Kyrgyzstan, Tajikistan, Turkey, Russia,Turkmenistan, Pakistan and Uzbekistan together with internationalorganizations and western countries had gathered to discuss ways tosupport regional cooperation (Guttman,, 2013).

ThisApril conference focused on the generation of Silk Routes Affiliationfor Migration in order to enhance additional cooperation and dialogueon the theme of migration. The conference also generated adeclaration to support pulling out of international forces andAfghanistan’s development (Guttman,, 2013). Diplomats fromKazakhstan gave support to regional efforts in the fields counternarcotics trafficking, trade promotion, counter-terrorism, TAPIpipeline the enlargement of transit corridors under CAREC program,and the CASA- one thousand electricity project. Kazakhstan has aidedin funding the ANSF-Afghan National Security Forces. It has alsofunded a fifty-million dollar project (Guttman,, 2013).

ThisAlmaty, conference has produced somewhat optimistic reasons. Thisplatform for dialogue among middle-east nations can be said to be amajor uniting factor which gives good prospects for the future.According to a recent meeting in Washington D.C at Johns HopkinsUniversity, Kazakhstan’s ambassador to the U.S Kairat Umarovcommented that the Istanbul process gives way for a thriving,peaceful Afghanistan (Guttman,, 2013).

ReferencesGuttman,R. (2013). IstanbulProcess Conference: Presents Positive Steps for Rebuilding Afghanistan.Retrieved from:http://transatlantic-magazine.com/istanbul-process- conference-presents-positive-steps-for-rebuilding-Afghanistan/

Interviewing

INTERVIEWING 4

  1. What is their favorite book?

Myfavorite book is “The Painter,” written by Peter Heller becauseit balances chaos of human spirit with solace of nature. A45-year-old painter Jim Stegner, and angler in Peter`s book, is arough romantic. Jim professional life of creating Western arts hasearned him stable income as well as critical praise, while hispersonal life is marked by calamity and consequences of the quicktemper. Recovering from alcoholic, recently divorced, and havingserved a prison sentence for almost shooting a person to death, Jimfinds peace after throwing his line in a river. When Jim sees thestranger abusing a young horse, his quick-tempered personality againthreatens to destroy the remaining filaments of his life (Keats,2000).

  1. What is their favorite movie?

Myfavorite movie is “ThinkLike a Man Too”I first watch it in Las Vegas during wedding celebration of Michael(Terrence J) and Candace (Regina Hall). The night before this greatevent, gals and guys break up for bachelorette- and bachelor- partyadventures. The best man Cedric led men, while the maid of honorLauren took charge of women. Nevertheless, both groups did not manageto find their party groove because directionless script wanders inthe entire Vegas strip without establishing stakes value caring about(Keats, 2000).

  1. What is their favorite restaurant?

Myfavorite restaurant is Binkley`s Restaurant

  1. What is their favorite meal?

Therestaurant has wonderful combination of service and food. The mainchef Binkley together with his staff has created a gastronomicmasterpiece. The highlights their menu is the corn and lobsterrisotto that are not common in many restaurant. The tuna, lambplates, as well as salmon and beef are all delicious. However, therestaurant has one disappointing dish the cuttlefish that is blandand cheese plate seem a little dried out. Wine flights match well andare tasty. Their service is outstanding, efficient, friendly, as wellas concerned and entertaining. Binkley`s Restaurant is my favoriterestaurant and well worth to visit repeatedly (Keats, 2000).

Reference

Keats,D. M. (2000). :A practical guide for students and professionals.Sydney: UNSW Press.

Primary and Secondary Source Comparison

PRIMARY AND SECONDARY SOURCE COMPARISON 4

Primaryand Secondary Source Comparison

&nbsp Author

June15, 2014.

ChristopherColumbus in the “New World” (1492)

Thediscovery of the new world by Columbus began in his first voyage inAugust 1492 after successful convincing the Spanish King tocontribute towards his voyage. In the primary source, Columbus letterwas addressing the Spanish King on Columbus discovery. That is whythe letter is written vividly to explain and illustrate differentcontexts of Islands and the Inhabitants. Clementswrote his piece on Columbus discovery in 1893 in regard toChristopher first voyage his historical work explains the Voyageconducted by Columbus (Clements, 1893). The date which the historicalaccount was written gives more credence and confirmation of theprimary data found in Columbus discovery of the new world.

WashingtonIrving, on the other hand, wrote the historic Voyage of Columbus in1828, his timing of writing is significant in that, the accounts onColumbus discoveries were still fresh and thereby making his workmore convincing on accounts recorded in the primary work of Columbusletter. In his work, he explains Columbus sea ventures, Islanddiscoveries and interaction with the local inhabitants.

Secondarysources like the work of WashingtonIrvingand Clementrecountsabout Columbus first-discovery voyage in similar manner as Columbusletter indicates. In his historical work, Keith asserts thatChristopher first sailed to Canary Islands where he docked forrepairs and provision restocking. Although Clement’shistorical account correlate to most facts about the Islandsdiscovered by Columbus, her work does not expound on some aspects asfound in Columbus letter on discovering a new world(Columbus,1492).

Nonetheless,the two secondary accounts relate to the primary source on the natureof indigenous communities met by Columbus, the Islands and the natureof the voyage. In particular, there exist some variations on Islandsnames discovered by Columbus and that of the historians and thelocals. For instance, Columbus named one island as San Salvador thehistorians called it the Bahamas while the locals called it Gunahanithere exists some doubt on which Island the Bahamas was based onclose analysis of the primary accounts of Columbus voyage.

InColumbus letter, he indicates the nature of the natives but does notdelve much on their way of life as WashingtonIrving,historicalaccounts records(Washington 1828).The secondary source authors have other sources that they relatetheir evidence on in particular the underlying characteristics ofinhabitants in each Island discovered by Columbus. For instance,Washingtonuses Columbus journal entry on 12thOctober 1492 to describe the characteristic of one native tribe thatColumbus and crew discovered, &quotmanyof the men have seen have scars on their bodies…’(Columbus,1492).

Byassessing these secondary sources, one can affirm that Columbusdiscovered the Caribbean Islands. However, Columbus humorousdescription of the natives might make one think that he issubjective, but on verifying secondary sources one can get a clearpicture. WhileColumbus letter gives a vivid description on voyage accounts ondistance covered between the discovered Islands, the secondaryaccounts, on the other hand, are not as elaborative as Columbuspiece. Afterassessing these sources on the accounts of Columbus discoveries, onething that is evident is that, there exists some variation in thenarration of some events, places and description of some historicalaspects. However, secondary accounts are relevant when assessing theprimary data.

References

ClementsR. Markham, ed., TheJournal of Christopher Columbus (during His First Voyage, 1492-93),London: The Hakluyt Society, 1893

ColumbusChristopher,&quotLetterfrom the “New World&quot Chapter 12, 1492.

WashingtonIrving, AHistory of the Life and Voyages of Christopher Columbus,G. &amp C. Carvill, 1828

Senior Citizens Community (SCC)

SeniorCitizens Community (SCC)

BusinessPlan

Tableof Contents

ExecutiveSummary………………………………………………………..……………….3

Theoreticalframework………………………………………………………………………3

Definitionof Plan…………………………………………………………..……………….4

ProjectOperations and Management………………………………..……………………..8

TargetMarket/Research………………………….…………………….…………………..9

MarketingStrategy…………………………………………………………………….…..10

IndustryAnalysis……………………………………………………………………………11

Partners/Competitors………………………………………………………………………12

Risks………………………………………………………………………………………..13

Timeline……………………………………………………………………………………..15

Financials-Year1 &amp 2 cash flow Projections…………………………(Attached Worksheet).

Conclusions………………………………………………………………………………..17

Recommendations…………………………………………………………………………18

WorkCited………………………………………………………………………………….20

ExecutiveSummary

Lifeexpectancy is increasing each day as a result, there will be anincreased proportion of senior elderly citizens living in Trinidadand Tobago. Old age depends on the context and the society ideally,elderly people are persons at 60 years and over who are in theironset retirement age. According to the Central Statistical Office in2011 there were more than 156,000 senior citizens over 60 years inthe country which represents a total of 12% of the nation’spopulation. Therehas been an increased need for elderly care service for the seniorcitizens. In a society where the young and energetic people havelittle time for their elderly parents and relatives, elderly care isin urgent need.

Currently,there are about eighty-eight homes for the senior citizens inTrinidad and Tobago that provide minimal services which areinadequate to meet the rising needs of the senior citizens.Additionally, there have been numerous reports of abuse ( ExpressNewspaper 2012) reported by seniors in these elderly care homes whichlead us to think that it is time for strategic intervention.

Researchon elderly care business indicates that, caregivers are a greatdeterminant in the efficacy of the program (Scott,Lisa &amp Sharkey 172). In most elderly homes, the care givers are irresponsible anddeteriorate the health of the elderly residents this results in mostbusiness losing much money in a year. It is important for senior caremanagement homes to partner with governments and employers toalleviate the seniors stress. As such, in addition to its objectiveof offering adequate elderly care, the SeniorCitizens Community willeducate employers and the employees on the need of creating a careplan for the senior citizens in advance. Due to the rising number ofseniors joining the society, elderly care will becomes necessary aschildcare.

Objectives:

  • To analyse and evaluate the trends and changes in the pattern of management of the elderly population in Trinidad and Tobago

  • To provide a safe and happy haven for the ageing population

Visionand Mission

Tocreate a Community environment of great inclusiveness and equitabledistribution for the senior persons and deliver quality caremanagement in a long-term community basis for global competitiveadvantage. The Community Center will provide quality care servicesand a comfort zone for the senior citizens in their golden years,create job opportunities, and enhance the quality of life for elderly

ResearchEvidence

Studiesindicate that, therehas been an increased need for elderly care service for the seniorcitizens. In a society where the young and energetic people havelittle time for their elderly parents and relatives, elderly care isin urgent need. More studies reveal that, thereare few elderly care homes for the senior citizens in the country andthe existing living homes provide minimal services which areinadequate to meet the rising needs of the senior citizens.Additionally, there have been numerous cases of reported abuse (Express Newspaper 2012) reported by seniors in these elderly carehomes which lead us to think that it is time for strategicintervention.In other cases, the care givers are irresponsible and exacerbate thedeterioration of the elderly residents’ health this results inmost business losing much money in a year. It is important for seniorcare management homes to partner with governments and employers toalleviate the seniors stress (Thompson417).

Moreresearch on this industry indicates that, there have been littleentrepreneurship and innovation in the industry despite thegrowing wave of aging citizens in the society, and it is expectedthat, by 2030, the number of aged citizens will be 20% of the countrypopulation (Scott,Lisa &amp Sharkey 167).The average life expectancy in the early 20thcentury was 47 but towards 2000 due to improved living conditions ithas risen to 77. People are living well and healthier lives whichlead to healthcare and social challenge from the aging citizens. Thesenior citizens are facing chronic health problems related to heartdiseases, stroke, cancer and diabetics. These diseases present majorhealth and social complications to the senior citizens especially ina society where the young generation is less concerned with the oldpeople(Picariello, Gloria, et al. 209).

Therefore,there is need for an independent, private and more comfortableassistive living care led to the establishment of community and homebased care services. Most senior citizens feel less comfortable innursing homes even when that is the only viable option (MetLife Study21).

Thechanges experienced in elderly care, medical and financial issues ofthe aged citizens’ calls for serious early planning and saving.Studies indicates that many of the seniors citizens feel pushed innursing homes without their will due to lack of knowledge onalternative elderly care services, finances and less family support. Many children are caught up in work and other social life activitiesthat have limited their time to give focused care to their elderlyparents. This problem combined with an increasing population of aged,there is a need for entrepreneurship and innovation in the seniorcare management.

Researchindicates that, social entrepreneurship has been in existence foryears. Many people have invested in community affairs throughschools, hospitals and care homes among others. The business ofsocial entrepreneurship requires perusing innovative measures ofaddressing social problem. However, history indicates that, mostsocial entrepreneurs are viewed as philanthropists and socialactivist and, therefore, the social activities engaged in are seen asdevoid of innovativeness, creativity and business management oriented(Thompson 413).The dilapidated state of most elderly care and nursing homes possiblyexplains this perspective.

Evidenceindicates that, although there have been social entrepreneurshipthrough community homes, this homes are affected by poor state ofmanagement and the general care services given. However, due torising demands in care services, the trend is changing as competitionrises. The competition in the social entrepreneurship has beenincreased by a large numbers of aging and pensioned individuals whoprefer community living than nursing homes(Wee-Liang, Williams, John &amp Tan 356).Inmost cases, the old people are left alone as young people pursuecareer and their own family lives. Therefore, the need for elderlycare services continues to rise each day.

Theoreticalframework

Entrepreneurship

Entrepreneurshipmeans starting or incubating a business idea. The entrepreneurdevelops a business idea using the available resources and isresponsible for the success or failure of the business. Undertakingentrepreneurship means being ready to take risks, take initiatives,and taking hold of all opportunities that arise in the market.Entrepreneurship takes different forms of activities depending on thechoice of the implementer this may range from small scale business,part-time venture or large scale ventures. Drucker, (2000) definedentrepreneur as an individual who looks for change, exploitsopportunities and is innovative. Therefore, entrepreneurship isability to become innovative, exploit opportunities and beresponsible of business risks(Hisrich, R. &amp Peters, 202).The Senior Community Center is incubated under this entrepreneurshipframework perspective (Stokes&amp Wilson, 210).

Innovation

Innovationis associated with the ability to find new ways of doing things. Inbusiness, innovativeness is associated with the capacity to seekbetter solution that addresses certain challenges in the market.Innovativeness is exemplified through improved and effectiveservices, technologies and ideas while running a business venture.Therefore, in businesses individuals need to be able to break intonew markets with new ideas, products or services that challenge thestatus quo in the market. Entrepreneurship and innovativeness aretied being an entrepreneur means being able to seize up newopportunities as they come in order to reap maximum profits(Drucker, 22).

Creativethinking

Creativityin business is very important especially in making business decisionand in the implementation of various activities. Businessentrepreneurs need to constantly apply new approaches when solvingbusiness issues this means been innovative in decision making andwhen implementing those decisions in regard to the management offinancial resources(Evans &amp Wurster, 1999).

SmallBusiness Management &amp Entrepreneurship

Managingand running small business should therefore be approached with highdegree of creativity, innovativeness and application of criticalthing in order to enhance the sustainability of the businessespecially when the business is in the startup phase. Application ofeffective management of resources, plans, procedures and budgetingare key aspects that entrepreneurs can utilize in ensuring that theirbusiness is firm. The entrepreneur has a great stake in enhancing acontinued business success through creative and innovative practices.Small businesses that are on the startup need adequate management anda strong spirit of entrepreneurship(Stokes &amp Wilson, 210).

Analysisand Application

StartupHuman service business operates in circumstances of uncertainty andrisks. There are majorrisks about finances based on fears that the elderly clients andtheir relatives might not be able tofund the case management services effectively.Therefore, effective Managementand running the community care Centre should be approached with ahigh degree of creativity, innovativeness and application of criticalthinking in order to enhance the sustainability of the businessespecially when the business is in the startup phase. In addition,Community Care Administrators need to be creative in making businessdecision especially and in the implementation of various activities.

Researchon elderly care business indicates that, Community CareAdministrators are a great determinant in the efficacy of the program(Scott,Lisa &amp Sharkey 172).Therefore, as entrepreneurs they need to become innovative, exploitopportunities and be responsible of business risks. In some cases inmost elderly homes, the care givers are irresponsible and deterioratethe health of the elderly residents this results in most businesslosing much money in a year. As such, as Community CentreAdministrators should be ready to take risks, take initiatives incharting the way forward for the business.

Researchindicates that due to the rising demands in care services, the trendis changing as competition rises. This calls for more strategies insocial entrepreneurshipand the application of effective management of resources, plans,procedures and budgeting are key aspects that entrepreneurs canutilize in ensuring that their business is firm. The entrepreneur hasa great stake in enhancing a continued business success throughcreative and innovative practices.

Inorder to embrace the spirit of social entrepreneurship, elderly carebusiness enterprise needs to apply modern method of businessadvertising in order to reach more people. This is part of beeninnovative and creative. Most young people are on social media andthey could take up a good advertisement on an elderly care Communityfor their parents. The Community center administrator needs to applythis innovative method as part of increasing awareness of thebusiness to the larger community. Online advertising is cheaper,efficient and effective.

Inthe modern age, corporate social responsibility is an importantplatform through which business sell their image. Senior CommunityCenter needs to initiate and participate in voluntary programs in thecommunity as part of getting closer to their clients (elderlycitizens) and understanding their needs. This is important forbusiness growth and harnessing community support for the business. Itis also important that the Community Center Establish a strongpartnership with government agencies in order to benefit fromgovernments programs aimed at assisting the elderly. In addition, theCommunity Center can partner with NGO which are effective means oflinking the business with most elderly people. The overall goal willbe improved awareness of the business and increased enrollment.

Itis important for senior care management homes to partner withgovernments and employers to alleviate the seniors stress as well asan innovative way of ensuring the sustainability of the business(Rae, ch. 2).In line with entrepreneurship, SCC willprovides quality care services and a comfort zone for the seniorcitizens in their golden years, create job opportunities, enhance thequality of life for elderly disable persons and provide a safehabitable, happy haven for the elderly.

Definitionof the business plan

Inthe living community, we will mainly cater for the upper-classpersons whose families can afford a care management villa rental feeof Five Thousand Dollars monthly. The project will start up on athree acre piece of land which we intend to build at least 10apartment villas

Facilitiesthat will be provided at the Community Care Centre

  • Art and entertainment area

  • Restaurants &amp Bars

  • Garden Area

  • Grocery

  • Sport and Fitness- water sport, special needs

  • Beauty &amp spas

  • Swimming pool

  • Internet and technological services

Equipmentthat will be available at the community (Buy)

  • Wheel chairs and patient beds for the disable, old and sick

  • Heating equipment, cooking ovens, grills, washing machines and other laundry equipment

  • Telephone, computers, typewriters, photocopiers and fax machines.

ProjectManagement and Operations

Thecommunity will be managed by directors, chief care administrator withthe help of geriatric care managers who will oversee theimplementation of case management services. The care managers will bethe first to hire in order to assist in the management of admissionand screening of new clients in the business.

SeniorCommunity Center (SCC) will apply Geriatric Care Mangers to overseeand assist in giving quality services to the senior members througheffective management and planning of social, health and legalservices at the facility. Importantly, the managers will oversee thecoordination of care services as well as working with employers byorganizing educational seminars on the need for early and long-termsenior citizen care management.

Underthis system both young and old persons will be prepared for theirfuture lives by educating them on our care system. As such, thefacility management will proactively work alongside thebeneficiaries, families and other relevant stakeholders in giving theseniors adequate health services(Kets de varies &amp Manfred 408).

Ideally,the Senior Citizen Community (SCC) will provide the followingservices

  • Planning-The center will develop all-inclusive plan for the residents that include care planning, goal setting, resource mobilization and allocation, service initiation.

  • Assessment-Regular assessment of the clients’ medical, physical, functional, financial and psychological status.

  • Coordinating services at the center- Under this scope there will be regular and on need basis communication and modification with service providers such as social workers, health agencies, pharmacists, healthcare agencies and other service providers.

  • Personal care services- in this case, personal care services will be provided to the clients in terms of housekeeping, companionship, assistive services like personal bathing, feeding and dressing.

  • Education- An education program will be instituted to educate relatives and the outside community on the need for early elderly care planning.

  • Monitoring- This will include regular monitoring of client status, service quality at the facility, crisis management and reassessment.

TheFacility intends to have spacious apartments with numerous services,common areas that provide the clients with satisfaction and comfortthat fulfils and inspires a true living among the clients. Residentswill receive three-quality meals in a day, assisted in therecreational, social activities, maintaining of their apartment andtransportation services. There will be trained and qualifiedcaregivers to provide regular assistance and attention to medication,dressing, bathing and meals preparation. In addition, the healthcareand other staffs will monitor and coordinate services within andoutside the center in ensuring that the clients live theircomfortable lives.

Inthe community there is a medical (Health) center which offers skillednursing services, rehabilitative, pain management and palliativeservices to Senior Citizens.

Twomanagers will be hired in the first year and they will vigorousmarket the program as well as educating seniors, physicians,hospitals and businesses in the community about the program. Theprogram intends to conduct field assessment through questionnairesand interviews on the needs of senior citizens throughout thecountry.

Acomprehensive assessment of Clients willing to join the SeniorCitizen Community will be done by the managers this will beimportant in assessing the nature of care services to be given to theclient. One manager will be in charge of the administrative taskssuch as hiring, supervision, marketing and preparing performance andfinancial reports. The other manager will closely work withcaregivers and oversee service coordination with other agencies inthe provision of elderly care services. The two managers will reportto the director on the overall progress of activities at the center.

Staffingat the facility will depend on demand, the number of clients andindividualized care services required by the members. During, theinitial research on the program through a focus group discussion withstakeholders in the senior care services, it was discovered thatresident population and staffing is essential in providing effectiveservices to the clients especially in regard to personal care.

Personalcare will be considered later as the program progresses, andefficient number of clients that need individualized care isassessed. Additionally, at a cost of Two thousand dollars monthly thecompany will provide a day care service from 7am-6pm Monday to Fridayto allow the elderly persons loved ones to work without havingworries on the old person being left home unattended.

Meanwhile,focus will be on service provision to referrals by other elderly careproviders.

Theexpected performance measures in the first year are

  • 100-screening assessment yearly

  • Enroll 15% of the screened individuals in year one.

  • Achieve a 90% satisfaction rating by clients, families and the government department of aging.

  • Educate 15 employers and reach many families on the need for early elderly care planning.

  • Decrease 30-% cases of hospital re-admission for senior citizens enrolled at the community and decrease non-urgent re-admission rates among the seniors by 40%.

Keyfinancial issues

WorkingCapital

Theoverall startup capital will be $ 10 million

Sourcesof finance for business startup and sustenance

Majorsource of Income will be through Familyand Bank Loan and Government Ministry (Ministry of the People).Grantsfrom the government, friends, family and the founder’s capital willbe $5million. In addition we will apply for Foolish Investors Bankloan of $5 million. Expected rentincome from renting a space at the communitywill be $100,000p.a. Weexpect 30 clients in the first year, 20 will be living in thecommunity at a tune of $5000 per month upkeep this is equal to 20 x$5000=$ 100000 per month. While 10 (to pay $2000 per month) will bedropped every day from 7am to 6pm $2000 x 10= $ 20,000 per month.Total income from clients plus admission and screening fees will be$131,700. Therefore, total sale income will be rent income from thepharmacy parlor rent at $ 8,300 plus $131, 700= $140,000in the first year.

Cashrequirements Start-up: Major Expenses

Theinitial starts up expenses of the project are expected to be highmore funds will be used to buy land and the construction of housingfacilities that will be spacious to accommodate 2000 residents thisamount is expected to scoop $5,000,000. In addition to construction,part of the funds will be used to furnish the living community withall facilities and equipment needed. These equipment will be boughtusing the construction funds. The home will be insured at a cost of$100,000.Two managers will be hired at an annual salary of $120,000.Recruiting of cooks, social workers, receptionists, Nurses at a tuneof $150,000 annually. In addition, Suppliers, Lighting, Heating,Telephone and Advertising expenses are estimated at $100,000 in year2014. Other expenses include consultancy fees, auditing, marketingprograms and other utilities costing $200,000 in the first year.

Similarly,funds will be used to pay suppliers of all items that need to beinstalled in the community home including lighting, I.T system,water, recreational facilities, heating, telephone, accommodationfacilities. The home care services will be planned after the initialprogram activities are complete and before services begin. Certifiedgeriatric managers will be the first to hire to aid in the planningand coordination of activities of the program. A receptionist, cooks,social workers and other home care service staffs will be hired asthe implementation of the program progresses on an incremental basisin regard to the scope of program operations. However, the initialstartup efforts will rely on referrals from the Regional medicalcenters, elderly healthcare homes, self-referrals, physicians’offices and hospitals in the area. These referrals will be screenedby the healthcare staffs and the managers to ascertain the careservice needed.

Allinformation will be electronically documented, and constant patientreviews will be made on billing reports, care services and status ofcare given. In order to give quality healthcare the program managers,health care staffs, social workers and the nurses will have a minimumof Bachelor degree managers will be holders of Masters’ degreeboth position a minimum of five years’ experience.

Targetmarket and Research

Thereis a growing wave of aging citizens in the society, and it isexpected that, by 2030, the number of aged citizens will be 20% ofthe country population (Scott,Lisa &amp Sharkey 167).

Theaverage life expectancy in the early 20thcentury was 47 but towards 2000 due to improved living conditions ithas risen to 77. People are living well and healthier lives whichlead to healthcare and social challenge from the aging citizens. Thesenior citizens are facing chronic health problems related to heartdiseases, stroke, cancer and diabetics. These diseases present majorhealth and social complications to the senior citizens especially ina society where the young generation is less concerned with the oldpeople(Picariello, Gloria, et al. 209).

Towards,the end of the century, the need for independent, private and morecomfortable assistive living care led to the establishment ofcommunity and home based care services. Most senior citizens feelless comfortable in nursing homes even when that is the only viableoption (MetLife Study 21).

Therefore,the changes experienced in elderly care, medical and financial issuesof the aged citizens’ calls for serious early planning and saving.Studies indicates that many of the seniors citizens feel pushed innursing homes without their will due to lack of knowledge onalternative elderly care services, finances and less family support. Many children are caught up in work and other social life activitiesthat have limited their time to give focused care to their elderlyparents. This problem combined with an increasing population of aged,there is a need for senior care management.

MarketingApproach

Marketingstrategy will target these individuals through

  • Direct contact with the senior citizens in the community groups, workplaces, health centers

  • Reach caregivers and the seniors through the organizations such as their workplace, hospitals, and private physicians, NGOs such as Help-Age, rehabilitation centers or third party referrals.

  • Another strategy will be through presentations in the community, churches, workplaces and schools on the need for elderly care planning and our program.

Inaddition, the program will use traditional marketing methods such astechnology internet and mobile phones which will target thecaregivers, employers and the family members. Other methods such asbrochures, media marketing and other print articles will be used.Billboards will be put up in the community, brochures distributed inorganizations, churches, hospitals and physicians offices.

Whatmakes us different– competitive advantage?

PCSSprovides quality care services and a comfort zone for the seniorcitizens in their golden years, create job opportunities, enhance thequality of life for elderly disable persons and provide a safehabitable, happy haven for the elderly.

Inaddition, the Community creates an environment of great inclusivenessand equitable distribution for elderly persons and delivers qualitycare management in a long-term community basis for global competitiveadvantage. The care management fees for the seniors are competitiveand affordable.

Partners/Competitors

Despitethe high population of citizens who require elderly care, the currentelderly homes in the country and at the community level do notprovide adequate and quality elderly care. There are multipleorganizations and elderly homes that provide elderly care services.

Noother organization focuses on education program and employer inregard to elderly care.

Threats,Risks and opportunities

Threatsexpected in the future include more competition and moreprofessionalized elderly care services. There have been crediblereports that the existing elderly homes are in the process ofrevamping their overall services.

Inaddition, the competitors are in the process of restructuring theirrecruitment policy to including professionalized staffs are espousedby the recent laws (senior citizens act 2007). The main risks thatthe program might face include financial and organizational.

Howdo we plan to deal with risks?

Majorrisks about finances are based on fears that the elderly clients andtheir relatives depending on out-of-pocket funds might not be able tofund the case management effectively.However, these financial risks will be addressed by educating theemployers, the clients and the relatives on the need to make theright care choice.

Staffrisks will be addressed by hiring staff with relevant qualificationsto provide excellent service as well as offering them competitivesalaries and benefits. The program will effectively abide by the newlaws concerning elderly homes to avoid management risks in regard toinspection, staffing capacity, remuneration for staffs, building andhousing qualities, hygiene and other relevant regulations put inplace by government.

Timeline of activities in the First Year

Time Period

Action

January-June 2014

1. Present plan to Ministry of the People.

2. Apply to local foundations for funding

3.Construction of the facilities

June-August 2014

Recruit and Hire Program Managers, cooks, social workers, receptionists, Nurses

August-October 2014

1. Develop policies, strategies (billing, computer services,

Personnel, standards of care).

2. Design marketing materials (brochures, web presence).

3. Training and certification for Certification for Geriatric Care

Manager/Program Manager.

October-December 2014

1. Stakeholder engagement activities.

2. Distribute marketing materials, implement networking

strategies (face to face appointments with employers,

physician’s offices, hospital staff, etc)

3. Continued development of policies, procedures, program

Guidelines.

4. Screen and enroll clients into PSCC. (30 clients).

5. Initiate employer education programs.

January-March 2015

Training and orientation for Geriatric Care Managers.

2. Screen and enroll clients into PSCC. 100 clients

3. Continue employer education program.

4. Continue marketing strategies (outreach to senior groups,

Community partners, stakeholders, etc).

April-June 2015

1. Continue community education through presentations at

Community groups, employers, hospitals, etc.

2. Continue screening and enroll clients into SCC.(50 clients)

Budgetnarrative

(Explainingthe Cash flow – see attached worksheet)

KeyAssumptions

IncomeAssumptions

Thecommunity wishes to be financially stable and sustainable by thethird year through revenue generating from rentinga space at the community.Working capital for the first three years will be covered throughfounders’ cash, grants from friends, community, and governmentthrough the Division of aging and private investors like Angelinvestors.

Bythe end of year one, we intend to have consulted 100 clients with 30clients being enrolled at the home (from October to December at atune of $5000 per care management upkeep, 20 will be living in thecommunity while 10 (pay $2000 per month) will be dropped every dayfrom 7am to 6pm, (this is $131,700 plus screening and admission fee).Grants from the government, friends, family and the founder’scapital will be $5million. In addition we will apply for FoolishInvestors Bank loan of $5 million.

Expectedrent income from the renting a space at the community will be$100,000 p.a (this amount will go directly to repaying the loan at$8300 per month. Bank loan interest is 8% per annum (therefore, aloan of $5 million will accrue a bank interest charge of $40,000 peryear this is $3,333 in monthly sum. The repayment of this loan plusinterest will start in June during the first year. In addition,employees’ salaries will be $40,000 per month.

Weexpect 30 clients in the first year, 20 will be living in thecommunity at a tune of $5000 per month upkeep this is equal to 20 x$5000=$ 100000 per month. While 10 (to pay $2000 per month) will bedropped every day from 7am to 6pm $2000 x 10= $ 20,000 per month.Total income from clients plus admission and screening fees will be$131,700. Therefore, total sale income will be rent income from thepharmacy parlor rent at $ 8,300 plus $131, 700= 140, 000 in the firstyear.

  • Initial screening assessment = $ 80 per person (30 people) =30 x 80= $ 2400

  • Admission to service = $310 per person 30 people) =30 x310 =$9300

Total=$11,700 (this amount is added to the first month monthly charge forclients)

Duringthe first year, the business will make a loss of$-6,067864.8due to more expenses used for the startup operations. However, in thesecond year, the business will make profit of $4,225618.29

ExpensesAssumptions

Duringthe first year, construction and furnishing of the community home isexpected to scoop $5,000,000 money will be used to buy 2 acres andbuild villa apartments with all facilities as indicated. Two managerswill be hired at an annual salary of $120,000. Recruiting of cooks,social workers, receptionists, Nurses at a tune of $150,000 annually.In addition, Suppliers, Lighting, Heating, Telephone and Advertisingexpenses are estimated at $100,000 in year 2014. Bank loan interestis 8% per annum (therefore, a loan of $5 million will accrue a bankinterest of $40,000 per annum this is $3,333 in monthly. Otherexpenses include consultancy fees, auditing, marketing programs andother utilities costing $200,000 in the first year. All employees’salaries will be $22,500 per month from June 2014. In the secondyear, 2015, staffs salaries will increase to $480,000 annually($40,000 per month).

ProfitabilityRatios

GrossMargin for Year 2= NetSales – COGS

NetSales

=5475900-1221510

5475900

=0.78×100

=78%

Thispercentage indicates the margin of difference between the cost andrevenue before accounting for other costs. This margin indicates thevalue of sales increase that can act as a guide in future businesssales decisions.

ProfitMargin Year 2 =NetProfit

NetSales

=4225618.29

5475900

=0.08×100

=8%

Thisshows that the business made a profit margin of 60% in the secondyear based on revenue and cost price of operating the communitycenter.

NetGearing =NetDebt

Equity

=5000000

10000000

=0.5×100

=50%

Thepercentage indicates that the business equity is enough to cater forthe business operations before it gets sustainable net debts aremanageable within the equity held by the business.

LiquidityRatios

OperationCash Flow

Year2=OperatingCash Flow (cash generated from clients-cash paid to suppliers)

TotalDebts

=344267

102810

=3.34×100

=334%

Thisratio is high and it indicates that the business is able to manageits finance expenses paying debts, purchasing suppliers and coveringno-cash expenses like depreciation.

Currentratio (Working capital ratio) =CurrentAssets

CurrentLiabilities

= 365167

104833

=3.48

Thecurrent ratio indicates the ability of a business to cover creditors’demands. In most industries a current ratio of range 1.5-3 indicatesthat the business is healthy and able to meet its obligations tocreditors. In this case, the current ratio is 3.48 which mean thatthe business is healthy.

Returnon Investment (first year) = Netprofit

Investment

=-6067864.8

10000000

=-0.607×100

= -61%

Inthe first year the business did not have any positive return oninvestment since fewer sales were made while more funds were used inexpenses

Returnon Investment (second year) = Netprofit

Investment

=4225618.29

10000000

=0.422×100

=42%

Therewas a significant percentage on investment returns in the secondyear.

Returnon Equity (ROE) Netincome

Shareholders’equity

4225618.29 x 100

10,000,000

=40%

Thisshows the efficiency of the shareholders equity return on investedfunds. The efficiecieny of the invested funds is good at 40 %. ROEabove 15% are considered good.

Returnon assets (ROA) NetIncome

Total assets

4225618.29 x 100

5,000,000

=8%

Thereturn on asset value indicates the efficiency of the invested assetsto give maximum returns on the business. Ideally, a return on assetsthat is above 5% is considered good. In this case the business assetsare worthy in the investment.

Assetsturn overNetSales

Total Assets

5475900 x 100

5000000

=10%

Ideally,business that have a higher asset turn over ratio have low profitmargin while business that have a lower asset turnover ratioindicates a higher profit margin. In this case, a 10% asset turnover, indicates that the business has a good profit margin.

Duringthe first year, the business will make a loss of$ -6,067864.8due to more expenses used for the startup operations. However, in thesecond year, the business will make profit of $4,225618.29.

Salesin the First Year (2011)

Salesin the Second Year (2012)

Conclusion

Therehas been an increased need for elderly care service for the seniorcitizens. Research on elderly care business indicates that,caregivers are a great determinant in the efficacy of the program. Inbusiness, innovativeness is associated with the capacity to seekbetter solution that addresses certain challenges in the market.Innovativeness is exemplified through improved and effectiveservices, application of technologies and ideas while running abusiness venture.Startup Human service business operates in circumstances ofuncertainty and risks.

Creativityin business is very important especially in making business decisionand in the implementation of various activities. There are majorrisks about finances based on fears that the elderly clients andtheir relatives might not be able tofund the case management services effectively.Effective Managementand running the community care Centre should be approached with ahigh degree of creativity, innovativeness and application of criticalthinking in order to enhance the sustainability of the businessespecially when the business is in the startup phase. CommunityCentre Administrators should be ready to take risks, take initiativesin charting the way forward for the business.

Recommendations

Theserecommendations are in line with the new business needs forsustainability and growth as well as erecting a strong buffer tosupport the business during its startup phase.

Promotionand advertising

Thebusiness enterprise needs to apply modern method of businessadvertising in order to reach more people. Most young people are onsocial media and they could take up a good advertisement on anelderly care Community for their parents. Therefore, the director ofthe Community center needs to apply this innovative method as part ofincreasing awareness of the business to the larger community. Onlineadvertising is cheaper, efficient and effective.

Subsidizingincome from rent

Inorder to enhance more sustainability of the business, the managementof SCC should come up with another small business venture to supportits sources of income. The small business could be rearing someanimals at the backward of the community Center or doing small gardenfarming to subsidize on farm products needed for foods. The optionsare not limited to these two ventures as through innovativeness andcreativity, other small business may be incorporated in the wholebusiness to make it more diverse and sustainable.

Creatinga strong partnership with NGOs and the government

Itis important that the Community Center Establish a strong partnershipwith government agencies in order to benefit from governmentsprograms aimed at assisting the elderly. In addition, the CommunityCenter can partner with NGO which are effective means of linking thebusiness with most elderly people. The overall goal will be improvedawareness of the business and increased enrollment.

Takingpart in social responsibility

Inthe modern age, corporate social responsibility is an importantplatform through which business sell their image. Senior CommunityCenter needs to initiate and participate in voluntary programs in thecommunity as part of getting closer to their clients (elderlycitizens) and understanding their needs. This is important forbusiness growth and harnessing community support for the business.

WorksCited

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