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A business model adds more detail to the evaluation of a new business begun during the feasibility analysis by graphically depicting the moving parts of the business and ensuring that they are all working together. Lancelott gutierrezcampbell 2017 the purpose of business model canvas consists and describing the success factors. Characterising a soap business carried out by MFS working on a regular basis to full fill the customer requirement and reaching at monthly revenue for monthly sales nearly rs. 60000 the following elements of MFS give a painted picture of MFS framework to guide them through the process of developing testing and refining their business model customer segments women who care their own health and particularly interested in natural products are consists of the MFS target customer segments for this business.
Get original essayThe business will expect to have average 250 customers per month. Value propositions the main relevant product offer is a genuine soap handmade adopting a natural process and the mix of natural fruits and oils. This element will gain credibility for the high-quality ingredients also MFS consider an opportunity to offer the soap with a loofah a complementary product. Channels MFS distribute its products to the saloon which are closed to the home each week in order to sell the o sell products. Another potential channel that MFS exploit to sell soaps could be owners house this will increase the opportunity of purchase for the customer. Once the market is developed MFS will evaluate the opportunity to enter the supermarkets.
Customer relationships in order to promote the business among potential customers. MFS distribute the business cards and the packaging contain the business website which increases the visibility of the business. Revenue streams considering the saloon as the main distribution channel the unit price for soap rs .150. The price is established based on the product cost necessary to support during the production expected average monthly sales is 300 pcs key resources the continuity of the business process is mainly ensured by the full presence of the entrepreneurs. Fruits are the main elements to produce MFS soaps. It is possible to identify 5 different fruits which are most beneficial for skin with healing properties oil and water. Key partners MFS does not require specific partners but the most relevant with a marketing and sales experience to promote the products. Along with people who supply raw materials to the business. Key activities the first and foremost activity is a collection of fruits and preserve it until for the manufacturing. Once the production is completed according to recipes in order to promote them to established channels every soap will go through h packaging process. Next, the key business partner will contact the distribution points and deliver it personally.
Cost structure the cost structure of MFS is characterized by fixed and variable cost. For the total amount of per month. The monthly salary for the personals who engaged in business activities of MFS would be 7500 x 3 considering the variable cost is most relevant to raw materials which are collected on the basis of natural availability. The approximate cost for one month would be rs… New business drivers easy method of production facilities less cost delivering on time and having a penetration pricing are the key business drivers of MFS customer relations MFS provide small customer survey form to the buyers of soaps. This will enable them to provide the feedback and the social media page allow them to share their view and opinions to find out the perception level of the product and will allow the company to find out the weakness of the product.
Value chain based resources MFS resources are the unique combination of resources and competencies such as talented workforce organizational capabilities finance facilities which provide economies of scale and competitive advantages. Competitive strategies MFS focus on the differentiation strategy to make it soaps unique to compete with the competitor’s product this will allow the firm to meet the demand of the customers and concentrating on the niche segment in the marketplace where other competitors missed to find the opportunity 81.2%
Airbnb is a new form of accommodation The Van Gogh-inspired Airbnb room in Chicago. Airbnb is an online community marketplace that connects people looking to rent their homes with people who are looking for accommodation. It was founded in San Francisco in 2008 as a start-up, the company has become a worldwide booking platform. It contributes to the movement of more than 60 million people in 192 countries. The company has 1.5 million listings and has served more than 35 million guests till date. Airbnb sees 140000+ people staying at its home-stays every day. In 2012, it overtook Hilton Hotels in number of nights booked. The company was valued at $31 billion in March 2017 and the personal fortunes of its three founders, Joe Gebbia, Nathan Blecharczyk and Brian Chesky.
Get original essayAirbnb utilises a Aggregator Business Model, like Uber or the Indian company Oyo Rooms. It does not have a linear business model like the traditional hotel chains such as Marriott, Hilton etc. The traditional hotel businesses have to invest millions in building and maintaining their properties. Airbnb’s key resources are people and therefore does not have to do any of that. This enables it to grow incredibly fast at zero marginal cost. People can list their available space on the platform and earn extra money from what they get as rent for their properties. As a platform, it also enables travellers to connect with local hosts and book home-stays instead of expensive hotels, saving them money and letting them “live like a local”. Personal profiles and rating/reviewing systems help travellers make an informed decision about the hosts and what is on offer. Hosts too can choose who to rent out their space to. These help to build trust and reputation in the community. Besides the travellers and hosts, Airbnb business model also includes a huge network of freelance photographers in all major cities of the world. They visit a property and get high-definition photographs of the property. These high-definition photographs improve the click-rate and help in getting more responses. Airbnb pays these photographers directly.
Tosi was financial wiz internally, creating a hedge-fund style investment fund for Airbnb with stocks, currencies, and other investments that contributed as much as 30% of the company’s cash flow.
Airbnb’s marketing strategies are brand partnerships with KLM Royal Dutch Airlines, UK bookstore chain and French Government. Secondly, through influencers such as journalists, bloggers, Youtubers and Instagram stars to spread the awareness all over social media. Lastly, they take risks and build a community by creating trust between users. They also build regular communication, detailed profiles and strong review to make engagement phenomenal. Airbnb’s type of ownership is corporate.
Mission of Airbnb is to live in the world where one day we can feel like we're home anywhere & not in a home, but truly home, where you belong. Airbnb’s vision is Belong Anywhere. The goals of Airbnb are eager to work internationally to remove bad actors in our community that are causing a disturbance to their neighbours, and will create a 24/7 Neighbour Hotline where we will service the complaints, to help the world to share the place they love with the people of the world and to create a world that embraces the sharing economy and is stronger for everyone.
To keep a business running, presence of stakeholders are crucial. There are 2 types of stakeholder namely: internal stakeholders and external stakeholders. Some of the internal stakeholders of Airbnb are owners and staff. The owners of Airbnb are Brian Chesky, Joe Gebbia and Natahn Blecharxzyk. They are the one who manage the company and direct the company to its right path. Besides, they also invest money to the company so that the company have sufficient amount of budget to run a project. Next, the staff are also a part of the internal stakeholder. Employees are offered benefits packages that include stock options have an additional stake in the company and its finances. As shareholders, employees are stakeholders affected by your business decisions in the way that the decisions affect your company's bottom line or profitability. Offering employees these types of benefits in which they too have a stake in the company's financial well-being can serve as a source of motivation and can inspire innovation among employees.
Furthermore, external stakeholders also play a part in a business. Some of the external stakeholders are bank and customers. Bank are the one that invest or loan money to the company to start up a business, without their contribution Airbnb will not expand or even created. With an increase in budget, Airbnb can obtain more resources that are needed. Moreover, customers are one of the external stakeholders. Customers contribute to the business whenever they book a room at Airbnb as 6-12% service fee, depending on the total of the reservation. The higher the total, the lower the percentage of the fee.
The culture here is unique. Airbnb has high innovation and risk taking so it encourages their employees to be innovative and be willing to take risk. It also has low attention to detail. It is important to get input from the company so Airbnb let their employees involved in creating an experience that they want to have at work. For instance, Airbnb have provided good working environment and hire cooks to prepare food for them so that their input for the company will be better. Airbnb is considering what their employees need to be successful and help the company to thrive. Therefore, they will constantly get their feedback from their employees so that they can create an experience that sets them up for success. It focus on results and outcomes in this company rather than individual achievements. Consequently, it has high outcome orientation, high people orientation, high team orientation and has high aggressiveness. The company does not emphasize the employees to maintain their status quo thus it has low stability. This creates a strong employee commitment to the company.
Airbnb have a strong culture of treating their employees like founders and anyone can ask any questions during meetings but they will never get an answer when the employees do not need to know. The employees will be aware of the company’s vision and mission and they will focus on it to thrive them. The employees of Airbnb will have access to data that would help them. Airbnb will encourage their employees to acquire new skills especially in data analytics and read novels to find creative ways to overcome the problem they face. Airbnb also prepared a platform for employees to share interesting information and opinions to their colleague.
Lantiguo Restaurante is hospitality and restaurant industry and it provides food specifically Spanish dishes. A website had been developed for interacting with customers for Lantiguo Restaurante. In this paper the mission, vision, objectives, marketing strategy and financial statements have been explained. The products served are variety of Spanish dishes and customers can place order after visiting the restaurant and also in online mode. In a span of two years the management can expect breakeven point. The capital will be raised through various modes with an objective to minimize the cost of capital. Lantiguo Restaurante has its website and customers can register to get updates and they are also given discounts if they place order in online mode.
Get original essayLantiguo Restaurante serves popular dishes for breakfast, lunch and dinner. The customers can physically place order for food products both in offline mode and online mode. Lantiguo Restaurantes had adopted expansion strategy because of its success in the present location. As a part of its expansion it had developed a website for its branch in Miami. In future there is also opportunity to expand globally. In the modern world people are showing interest for variety dishes especially Spanish dishes.
Since there is potential demand I have decided to open Lantiguo Restaurante in Miami Florida. Business plans serve as the framework for your company and provide benchmarks (Hull, 2013). Business plan gives route map for management, employees and other stakeholders about the sustainability of business. Strategy means long term plan and it consists of mission, vision, market strategy, financial projections and environmental analysis.
Mission
To provide various Spanish dishes with high quality and at affordable price.
Vision
Lantiguo Restaurante should become synonymous to tasty food and it must have global brand image.
Industry: Hospitality/ Restaurant
Proposed Location: Miami, Florida, United States of America
Over the last decades, culture has become an essential ingredient in the economic development strategies of many cities. Urban growth had increased dramatically in Miami Florida and disposable income had increased at the same rate. According to Wade et al branding is more important for internalization in restaurant business industry. Customers in Miami Florida have the habit of spending quality time in restaurants. Further there is potential demand from solo diners in Miami and customers visit the hotel for having specific food items.
People in Miami always welcome new and variety dishes and they visit restaurant throughout the week. Due to technological advancements people in Miami are placing online order for food products. In Miami people give priority for food and entertainment in the same ratio therefore potential market would be there for Lantiguo Restaurante. However culture is dynamic and it has both positive impact and negative impact on life style of people. Due to massive urbanization people have less time for cooking and they are looking for delicious items for their breakfast, lunch and dinner. Hence Lantiguo Restaurante can anticipate potential demand from Miami.
However Spanish culture with regard to ambience will be reflected and customers can get experience of having food in Spain. Some of the dishes are also customized for meeting the expectation of customers from diverse background. All the employees especially chefs will be sent for parent company or directly to Spain for updating themselves with innovative dishes.
Lantiguo Restaurante is private limited company. It is established legally through Company Law in United States. It will have approximately 40 employees and the number will grow eventually. The company generates funds through bank loans, from investors and issue of shares. The company will declare financial status from time to time like other private companies. Initially the dividends might be low for first annual year but later shareholders and other investors can anticipate huge profits or dividends. According to Liu et al (2017) the experienced employee with self-efficacy leads to productivity in restaurant business.
The internal environment of an organization is controllable, and it can be analyzed through strengths and weaknesses. The uncontrollable external environment can be analyzed through opportunities and threats of an organization (Hitt, Ireland, & Hoskisson, 2013). The SWOT analysis for Lantiguo Restaurante is explained through Table 1. It is evident from the SWOT analysis that Lantiguo Restaurante is having huge market potential. There is opportunity for further growth of the company. Even though new entrants may enter into restaurant and hospitality there will be always great future for Lantiguo Restaurante.
Table 1: SWOT Analysis
From SWOT analysis it is evident there is bright future for Lantiguo Restaurante in Miami. Since Miami consists of people from diverse backgrounds there can be potential demand for Lantiguo Restaurante. Even through restaurants operate in competitive environment there would be potential customers because of increasing population in major cities in United States.
The products mentioned in Table 2 will be available throughout the day from 10:00 AM to 11:00 PM. Initially Lantiguo Restaurante will run for two shifts. Customer can place an order through online mode and they can also reserve the tables through online. For regular customers membership card will be issued for better customer relationship management. For every three months the menu will be updated with new dishes based on the feedback of customers of Lantiguo Restaurante.
Table 2: List of products
Picada It is made with combination of olive oil, roasted bread, garlic and other aromatics.
Pisto It is also known as ratatouille and made up of variety of vegetables.
Spanish omelette Spanish Omellette is made of eggs and other tender ingredients.
Croquette Mashed potatoes along with crumbed bread with béchamel sauce.
Tortilla de Patatas It is prefect food items for breakfast and lunch and it is traditional dish in Spain.
Frittata It is finished of eggs and it comes up with an inventive edition of the tortilla.
Paellaa ala Valenciana It is made of meat, white beans, green beans, rice, snails, saffron and rosemary.
Customers can order the products and delivery is made within fixed distance surrounding the Lantiguo Restaurante. The customers can also reserve the tables and place order online before they arrive at Lantiguo Restaurante. Home delivery is made with support of third party organizations. Whenever customer states that food is not delivered in right time then cash back would be given to customer. Further Lantiguo Restaurante is planning to implement customized order which mean inputs would be taken while preparing the dish with regard to ingredients. In modern world people are having less time therefore they can access the company details through online mode like website and also through mobile phone.
Marketing strategy can be referred as a plan for developing mix of product, price, place and promotion to meet target customer expectations. At present the same marketing strategy of Lantiguo Restaurante will be implemented in its new market in Miami also. The culture of parent company will be implemented in all its new branches both at nationwide and global markets.
Marketing plan can be stated as a document about the business process of organization and it includes all the possibilities and challenges while doing business in real time. Customers are centric to Lantiguo Restaurante and their inputs are always taken at regular intervals for betterment of Lantiguo Restaurante.
Food items are primary products of Lantiguo Restaurante. The services like online food ordering, reservation and quality are provided by Lantiguo Restaurante. The core product of Lantiguo Restaurante is food prepared in Spanish style. The target market consists of all the customers who visit restaurants irrespective of their demographic profile. Quality food with hygienic environment is served to customers. The customers can find food description and ingredients through Lantiguo Restaurante website. An exclusive website is designed for Lantiguo Restaurante which gives complete profile of the organization. The customers can contract with the email address provided for any queries before they visit the store.
The cost of breakfast items range from $6 to $9. The lunch cost would be from $7 to $12 and dinner cost would be from $8 to $12. Customers are given discounts during weekends and also during festivals. The customers who have taken membership cards are given minimum ten percent discount on every bill. At Lantiguo Restaurante market penetration strategy would be implemented. The prices of all the items in menu are decided based on competitor pricing strategy.
The pricing will include all the taxes and customers are given an opportunity of free delivery if they make online order. However prices might be little bit high during peak hours and also during weekends only to maintain the additional costs incurred by recruiting more employees in such situations.
Customers visit the store directly at any time from 10:00 AM to 11:00 PM. The food will be served immediately after the order is placed. For some specific dished maximum of fifteen minutes will be waiting period. The customers can place online order through its website. The food is delivered at customer place in maximum one hour time. However customers can reject or get their money back if food is not served as promised by the company. A third party organization will deliver the food products which are ordered in online mode.
Food is perishable item therefore inventory will not be made and Lantiguo Restaurante encourages customers who given enough time for preparation through discounts. For every order the feasibility will be checked before accepting for home delivery. However initially returns will not be encourages unless the products is not delivered as promised at the time of placing an order.
Food coupons will be given to potential customers. Customers will be given coupon code when they purchase other items in online mode. The advertisements will sent through personalized SMS like birthday wished, wedding anniversaries and other occasion for all the customers who have taken membership at Lantiguo Restaurante. Among the type of promotions ‘word of mouth’ is more important for restaurant business. Hence customers will be encouraged to promote the restaurant in their networks. Lantiguo Restaurante will also communicate with all the stakeholders through its social networking sites like Facebook and Twitter.
Approximately fifteen employees will be recruited on permanent basis. Recruiting will be done by posting advertisements in employee portals. First priority will be given to employees with having more than ten years in restaurant business. A competitive salary will be paid for attaining employee retention. Later according to the situation employees will be recruited on contractual basis. Part-time employees will be recruited during weekends and help of third party organization would be taken for delivery of food products.
Approximately $1.5 million would be invested in establishing Lantiguo Restaurante in Miami. The capital required will be procured from various sources. The reason for procuring funds from different sources is to minimize cost of capital and also to reduce risk. Lantiguo Restaurante is a limited company and it can source funds through loans, debentures, equity and through venture capital. The following Table 3 shows the proportion of funding for Lantiguo Restaurante. The funds shown in Table 3 are estimations and may slightly vary according to the market situation. According to Scarborough and Cornwall (2015) entrepreneurs are encoruaged throuhg seed capital but at the same time it may not be for expansion of business. Hence procurement of funds should be done very carefully for Lantiguo Restaurante.
Table 3: Funding for Lantiguo Restaurante
Source Amount (in USD)
Bank loan $400,000
Equity $600,000
Debentures $300,000
Venture Capital $200,000
Total $1,500,000
The breakeven point for Lantiguo Restaurante can be attained within 2 years. The profits each month the profit would be approximately $62,500 after removing taxes, costs and other expenses. In a span of two years all the investment would be back to management for them onwards Lantiguo Restaurante will definitely have tremendous profits. However all these projections are made in pessimistic conditions but if external environment is supportive then within one and half years the breakeven point can be attained.
Customer tastes and preferences are dynamic and people may like some other food. The economic environment may lead to economic downturns like recession and depression. At present customers are accepting traditional dishes but in future they may like only organic food because of health consciousness. Even the customers with membership may feel boredom with existing menu. The increasing prices of raw material like vegetables, meat and eggs may pose a threat. Employee retention especially chefs would be the biggest challenge in restaurant business. The legal environment is very strict with regard to food safety therefore any small mistake may lead to closure of the business. Modern customers are treating restaurant as a leisure place for example customers can spend lot of time in Startbucks whereas at Lantiguo Restaurante space may not be available for longer period of time.
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Get custom essayLantiguo Restaurante will fill the gap in the restaurant industry in Miami. At present most of the people are not able to access quality food especially Spanish dishes. The customers will be delighted through innovative and delicious dished of Lantiguo Restaurante. Since every individual is customers for food products a huge potential market can be expected for Lantiguo Restaurante.
We are bringing to the market edible water balls which are very new and unique product. We are aiming for a more environment friendly way of drinking water that is why we are using the tagline “Drink smarter today for a greener tomorrow” Our products shape like ball. The outer layer of the package is always meant to be peeled like fruit–one thin outer layer of the membrane peels away to keep the inner layer clean and can then be composted. Where we see a lot of potential for quafresh is outdoor and indoor events–festivals, marathons, weeding, birthday and organization meeting or conference places where basically there are a lot of people consuming packaging over a very short amount of time.
Get original essayOur business requirement startup capital is BDT 80,000,000.00. Our sources of fund will be coming from personal: BDT 40,000,000.00, bank loan: BDT 25,000,000.00, investors: BDT 15,000,000.00.
Our business major goal:
We will supply high quality hygienic and purify water. And our main target is to protect the environment from plastic pollution. Because, there is no plastic used to make quafresh water ball. So, our product will help to prevent environment pollution.
Objectives:
The main objective is to make a sustainable environment by consuming these water balls instead of water bottles. The material is also cheaper than producing a plastic water bottle. Millions of water bottles are being thrown away in Bangladesh as a result it is filling up landfills and also entering the sea
Quafresh is unique product in our country. Others water companies are not think about this type of product. Quafresh is ecofriendly product for our country peoples. Our product is immersing a frozen ball of water or juice into a calcium chloride solution helps from a gelatinous layer around the liquid. Our balls are usually come of 50 milliliters, 100 milliliters and 150 milliliters which can even made into small quantity’s as per needs. As government has banned use of plastic, which was used for making of watter bottles by many companies their was need of an alternative that is fulfilled by our quafresh water ball.
Quafresh aim to conservation of water, minimizing wastage and ensuring its more equitable distribution both across and within states through integrated water resources development and management. Quafresh is control water related disease. Because our products will provide nutrient & mineral base water for consumer.
“To meet up our customers’ expectations by providing an outstanding water ball service in a sustainable and affordable way”. And safe drinking water for all, at all times, in rural Bangladesh.
Company’s Competitive advantage:
The legal form of ownership of this business would be partnership. The business would be equally owned by 5 partners who has similar interests. We will equally distribute the work of running the business according to the partner’s skill and knowledge. Our business principle is to earn profit by giving good service to our customers. Our business is based on partnership. Because partnership business has some advantage such as:
Comparison of product/service with competitors
Form of Business: Partnership
Name of the Business: Quafresh
Sector / Industry: Beverage.
Brief Introduction of the Entrepreneurship
Sl. Name Educational Qualification
Mirza Mohammad Ali O Level, A Level, BBA 3rdSemester
Parvez SSC, HSC, BBA 4th Semester
MehediHasanFaysal SSC, HSC, BBA 4th Semester
SyedaAanika Akbar SSC, HSC, BBA 3rd Semester
Abir Saha SSC, HSC, BBA 3rd Semester
Organizational Chart (Oregano gram)
Job description
The responsibilities of our CEO will be managing the company’s funds, taking decisions with other partners, forecasting the firm’s future revenues. The main responsibilities would be managing the resources and taking decisions in the firms favor. Collaborating with other heads and building a team. He would also evaluate the company’s performance and take future decisions.
The responsibilities of our CFO would be to manage, spend and generate firm’s funds. Generating and spending of funds. Managing the firm’s short term and long-term financial decision. Assist in formulating the company’s future direction and supporting tactical initiative. Manage the capital request and budgeting process. Develop financial and tax strategies.
Marketing is one of the most crucial sectors of a business. If marketing is not done properly, it will become tough for the company to get hold of customers. The responsibilities of the head of marketing department will be to establish marketing strategies, take decisions related to marketing and help the company achieve its goals through proper marketing. It will be her responsibility to help other partners in choosing the best pricing strategies. It will be the heads of responsibility to segment and predict the future of the market. Also keep record of how effective the marketing strategies are. Head of Marketing control Advertising Manager, Online Ad Manager, Part-Time Marketer. Head of Marketing also train the Part-Time Marketer. He keeps record of how effective the marketing strategies are.
Research and Development is a vital part of any kind of business. So in our manufacturing company R&D officer will do research on our bio fungicides product so that us the producer can produce more this product more efficiently. This R&D officer will also think about our development of our product so that we sell produce at decent price and farmer can get help from this product as well.
Maintains organization staff by establishing a recruiting, testing and interviewing program; counseling managers on candidate selection; conducting and analyzing exit interviews; recommending changes. Prepares employees for assignments by establishing and conducting orientation and training. Part-Time Marketer is also be included in this sector.
Our operation officer communicates with each production employers, customers, vendors, and suppliers, the better for our business. He will not only operate within the factory because he will also operate with other outside the factory like field officer. He will also control our production quality.
As mentioned earlier the product we are bringing is an edible water ball. Basically the product will be a ball like pouch which will contain pure drinking water. The pouch itself will be organic so that it can be consumed after drinking the water inside. Again people can also consume the whole thing at once to get a unique experience. The container itself will have two layers, the inner layer will contain the water and the outer layer will keep out all outside entities from reaching the inner layer so that it is safe for eating. Consumers will be easily able to peel off the outer layer and enjoy our product. Even if customers decide to throw both the layers away it will not harm the environment since both the layers are organic and will decompose within 2-4 weeks. Is made through a process called spherification, which shapes liquids into spheres. A compound made from brown algae and calcium chloride creates a gel around the water. While the package is being formed, the water is frozen as ice, making it possible to create a bigger sphere and keeping the ingredients in the membrane and out of the water. This process is repeated to make the second layer. We are bringing this to the market to provide a greener alternative for plastic bottles which take almost 700 years to decompose whereas Quafresh decomposes in 2-4 weeks.
Political-Income tax and other taxes: we can see that Quafreshis made by reasonable raw materials as like sodium alginate (which comes from brown seaweed), calcium lactate (which is a salt), drinking water,baking powder, cheese.etc. These all are very reasonable in our country. That’s why the taxes are lower.
Economic-This is the stage where the mass people will finally start to be aware of our product and its details. For this reason in this stage we will have rapidly rising sales and profit and average cost per customer will also decrease. This is the also stage where we will see growing competition This is when we will try to make various extensions for our product. We will also try to switch to mass marketing since we are selling water. The prices for our product in this stage will still remain low so we can penetrate and attract the mass market and also drive away the competition. We will also switch to intensive distribution to keep up with the demand for our product.
Social-our products are easily used in outdoor and indoor program. Because after drinking consumer doesn’t through any plastic materials. Our products will change environment system. The upper layer of our product will easily mixed with soil within one-four weeks.
Technology-It is one of the most important parts for every business. Without technology business doesn’t run smoothly. Technology will help our business. Because our all machine will automate for production to produce products. We also using computer to update our business employee’s record keeping part. CCTV will using high security in factory and also observes employee’s activity and their work inside the factory.
Legal- In the least development third world countries, the most important consumer right is the right to satisfy basic needs. Any inquiry into the problem of consumer protection in one of the least developed countries, such as Bangladesh, should being with the existing fundamental difference between consumer protections philosophies in the development and developing countries of the world.
Environmental-Environmental impact of service business practices the relationship between humanity and the environment is a delicate balance. Since the industrial revolution, the world pollution has increased exponentially, and with the population growth, the environment has been profoundly affected. Deforestation, pollution and global climate changes are amongst the adverse effects the population. But our product is totally beneficial for environment. It is not harm full.
The places we have chosen for the retail outlets are Bannani, Gulshan, Dhanmondi&Bashundhara R/A andBadda is the center of all the outlets so by judging it in every possible way we have chosen it as the location for our factory. So that we don’t have to put our concern on saving the transportation cost and use the time correctly by not wasting time on traffic jam in Dhaka City.
Even during the peak time of sales our outlets won’t face any shortage or crisis of water balls as the factory can keep on supplying 24/7 because of the positioning. Distributors can also easily communicate with the Manufacturers quite easily.
Our main competitor is MUM Drinking Water. They are the popular and the market leader among the drinking water brands in Bangladesh. Mum is dominating 45% market share in mineral water industry. Their marketing and production channel is very strong.
Product strategy:Quafresh products are useful for human being. We will also make edible juice and soda. People’s easily use our product. Using this product is not harmful for our health.
Pricing Strategy:Quafreshindustry is mainly beverage industry. Quafresh product’s price depends on raw material, direct & indirect labor cost, transport system etc. Those parts are related with Quafresh productprice. Our product pricing strategy is penetration.
As we will charge 4 taka only for 150ml water ball so our distribution price falls and we can easily enter the market and compete with others. Because of our low price at the very beginning we can target a vast number of buyers and win over a very large number of market shares in a glimpse. Bangladeshi people are highly price sensitive so when we are giving 1 ball for 4 taka only it won’t affect them and they won’t judge our product as overpriced. Many large industries come up with a reasonable price and once they get a stable position they start to charge more price and keep increasing it day by day which creates a negative impact on the customers. But we decided that we will keep the price as low as possible as long as possible as our goal is to make the product sustainable.
Promotion strategy:Quafresh products will use Internet, Advertising, Newspaper, Flyer, Magazine etc. Marketing using this strategy people around the world will able to know aboutQuafresh water ball.
Those parts are related with Quafreshpromotional strategy. Without promotional, Quafreshcan’t stay in primary field. Because promotional strategy increase sale in market. So, Quafreshis mainly focus to promotional strategy.
Distribution strategy:We are going to use Conventional Marketing Channel rather than the Vertical Marketing Channel. In Vertical Marketing Channel the cost will be more as we have to be the Manufacturer, Wholesaler and Retailer all at once, where the Investment will be huge and we will need more sites, space and staff for retail outlets and wholesale management. In the end we won’t be able to stick to our cheap product price.
In Conventional Marketing Channel we don’t have to face extra hassle and stress as we are not taking charge of distribution and retail. So we think the Conventional Marketing Channel is much safer than Vertical marketing Channel and we will remain in safe zone and will keep our commitment to the distributors and buyers.
Quafresh target is indoor and outdoor events-
Quafresh sells different types drinking products.Our product is environment friendly product. Our products always focus on maintaining quality.Our product price is very reasonable or easier to customer. we will supply our products in cities area.Among these we have decided to target the student. The students always prefer a fast and flexible and they are open to new ideas. As we are targeting the students we see that most of the schools, colleges and universities.
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Get custom essayBy using a process called spherification, which creates a liquid with a soft membrane that you can eat. The process combines drinking water with sodium alginate, which comes from brown seaweed. After those two are combined, spoonfuls are put into a bath of calcium lactate, which is a salt that can be found in many items like baking powder, antacids, and cheese. Inside the bath, a gelatinous membrane begins to form, though the water stays liquid in the middle. The result is a refreshing drink of water that doesn’t require a separate vessel like a bottle or a cup.
BPM is a mechanism for describing and communicating the current or intended future state of a business process. (it can be summarized as how work gets done in an Enterprise or an organization. Business process modeling is mainly used to map a workflow so you can understand, analyse and make positive changes to that workflow or process.
Get original essayIncreasing transparency and accountability of all organizations including public services and governmentb) Increase in usage of information and communication systems) Modern complexity of business.
BPM can be considered as a quality management tool due to its:
Business Process Modeling Features:
Advantages of BPM:
Most of the legacy systems are outdated or used sparingly. However, it must be noted that some of them are used far more effectively in other industries and for different purposes.
For example, Gantt charts are not very effective as a business process modeling technique but they are extremely useful to monitor timelines in complex projects. Similarly, flowcharts are great to quickly describe uncomplicated processes.
With the advent of Internet and boom of Social media it is now has become an emerging trend that both marketers and consumers use their own websites to create brand communities. A great marketing platform is provided by social media. Now a day’s more and more retailers use social media based marketing and target teens and young adults through its influence. Consumers of various age groups follow a particular brand by its social media websites because of various reasons. The easy availability of Internet throughout the world has enabled the consumers to use social media Example form Email to Facebook and Twitter which has made the Human interaction very easy and it requires no physical meetings. Social networking sites and online communities play a vital role in Social interaction and Information sharing/handling.benifits of using Social media as tool of marketing includes enhanced brand popularity, Strong brand Image, facilitating word-of-mouth communication .all these values results in increased sales and easy information flow in business context which results in generating social support for the consumers. Today, with the Expansion of Social media it is a new topic for researchers that tends to develop a research agenda because ‘‘Social media are likely to develop marketing strategies in firms through thrust building mechanisms, it is also able to affect consumers, create an intention to buy online because buyers can easily interact with the sellers, and find whatever he service they are looking for’’.
Get original essaySocial media act as an important tool in the ‘‘Online Buying Process’’ of consumers. This process is defined as an electronic process that allows consumers to satisfy their needs and meet their purchases by dealing with business people over the internet. Online shopping is growing with faster rate ever than before and this different king of consumers from different targeted segments are getting influenced by this phenomenon, In Pakistan only 30 % people contribute in online buying , The online buying rate here is low because of bad perception, quality of the product ordered online in Pakistan and high product delivery time. All there problem creates dissonance in buying online through social media.
Mostly the adults and teen agers buying online through social media because they spend their free time on internet to use social media sites. Due to spending time on internet they work together with different people at a single place and their likes and dislikes changes due to see different people wearing different manufactured goods. Shopping lovers and business users are frequently buying online. . Shopping lovers are experienced computer users and will likely continue their shopping habits. They also spread the word to others about joys of online buying whenever they have the opportunity. They represent an ideal target for retailers. Business users use the Internet first and foremost for business purposes. They take a serious interest in what they can do for their professional life. They don’t view online shopping as novel and aren’t usually champions of the practice.
Online Insiders are very active users on internet and highly influential online shoppers in using different Social Media to buy and sell. Usually, consumers choices are influenced heavily by online brands and consumers can influence each other. This kind of event usually affects the repurchases process as a result. Therefore, Consumers are increasingly turning to Social Media in order to get more information on which to base their decisions. For instance, it can be noticed that most of the online shoppers tend to be younger, wealthier, better educated, more computer literate and more likely to spend time on internet, and shop online.
There are some dissonance occur in buying online. Security issues are most important dissonance occur in buying through social media. Online shopping may not be safe; they may offer the products at low cost but might collect your card payment and personal details. So avoid doing shopping from websites which are not recognized. Even though if you are doing online shopping from certified websites but from cyber cafe or through public Wi-Fi or through computer which is not virus protected may put you on risk. There is some dissonance of warranty of the product which you buy online and dissonance occurs in exchange the product and also in return policy of the product. Sometimes customer feels difficult to put order on the web portal because customer is not fully aware of the form which requires filling to buy the product.
Quite a lot of disciplines have developed a range of perspectives to explain quality. In Operational management, quality is viewed as a conformance to requirements and has been described as a technical specification. In economics, quality is used as one of the competitive strategies for a firm to differentiate and is used to explain coherent customers’ collective behavior. In marketing and organizational studies, individual biases during quality perception processes are highlighted. However, all these studies bear one fundamental assumption: high quality is the superiority meaning innate excellence, unarguably desirable thus always non-arguably being pursued by all customers. This collective pursuance by the customers represents the objectivity of the quality. According to Parasuraman et al. (1988), quality is ‘assessing the superiority.’ And to be superior or to assess advantage, it first needs an objective measure. In fact, a measure itself implies that it has objectivity. Namely, we can derive the objectivity underlying the concept of quality.
Product perceived quality directly influences to purchase online. Customers have some awareness about the product quality, price and styles before going to purchasing the product. After using of product, purchase intention increases as well as decreases, because it has direct relations which affect each other’s. Rust and Oliver (1994) proposed two differences between perceived quality and satisfaction. The customers considered perceived quality as a more precise concept based on product and service features. The company can have a degree of control over quality. So, it is suggested when perceived quality is regarded as overall assessments, then perceived quality is understood as the source of satisfaction.The satisfaction is considered the most important constructs in marketing. The evaluation of product by customer after the use is known as purchase intentions. The behavior is viewed as a key for Predicting consumers’ purchasing behaviors as well as their intentions. Astudy by Ghosh (1990) proved that consumers choose one good but the finally result depends on their intention. According to Aaker (1996) that perceived quality predicts the level for the quality of entire product.Thus perceived quality influence on consumer online buying.
The quality of product is that which satisfies the needs of users which may include different features and it increases the performance of the product. A study by Rao and Raghu Nathan (1997) showed that the product quality is to understand and measure the requirements of the consumers. Satisfaction plays the vital role in marketing because it is a good predictor of purchase behavior. Due to satisfaction dissonance is remove which occur when we think to buy online. Various theories have been developed in an effort to determine the construct and explain satisfaction in different compensation in products/services. Website quality can be seen as the attributes of a website that contribute to its usefulness to consumers. Previous website quality research has identified numerous website quality dimensions, including information quality, ease-of-use, usability, aesthetics, and trust building technologies. When website cannot deliver clear information about product due to this when customer cannot clear about the product which they want to purchase then dissonance of buying occur.One study has assessed the use of website quality to signal company trustworthiness to users of an online bookstore. This study found that information quality was significant to trust for both new and repeat bookstore customers.Quality is considered as a key strategic part of competitive advantage and therefore the enhancement of product or service quality has been a matter of main concern to firms.
Garvin (1987) identifies five approaches to define quality: transcendent, product-based, user-based, manufacturing-based, and value-based. Transcendent definition of quality is synonymous with innate excellence. The assumption of transcendent approach is that quality is both absolute and universally recognizable. Quality of conformance relates to the degree to which a product meets certain design standards. Besides, the value-based definition equates quality with performance at an acceptable price, or alternatively conformance at an acceptable cost. The impact of quality orientation on online purchase intention is well documented in the extant literature.
Ballenger and Korgaonkar (1980) state that recreational shoppers tended to consider quality, variety of product types and pleasant store atmosphere as important factors when choosing stores. In the context of web-shopping environment, Gehrt, et al. (2007) discovered that customers from the shopping enjoyment segment are positively inclined toward recreation, quality, and impulse orientations when making online purchase. Although dissonance occur in online buy is due to give incomplete information, not sure about privacy of customer personal information and dissonance also occur when customer not sure about Quality of the product which they want to buy online.
Compared to physical stores, online stores have many advantages: They are suitable and time saving and no more traveling and waiting in lines is needed. They are open in all time and they are easy to get to anytime and anywhere. These stores provide consumers with free and rich information about products and services. They also have some online tools to help consumers compare and make purchase decisions among various products and services. Hoffman and Novak (1996) indicated that interactivity is the key unique feature between marketing communication on the Internet and traditional mass media. Today online consumers have more control and bargaining power than consumers of physical stores because the Internet offers more interactivities between consumers and product/service providers as well as greater availability of information about products and services. Geissler and Zinkhan (1998) claimed that the Internet shifted the balance of power in favor of consumers as it became very easy for them to make shopping comparisons and evaluate alternatives without being pressured by salespeople. Online stores reduce transaction costs and have advantage for both consumers and vendors.
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Get custom essayIn online stores customers can’t have any sense about the product they see in the internet (seeing, touching, tasting, smelling, and hearing) as they search for and purchase products. In online stores, consumers may develop low trust and perceive elevated risk highly because of the lack of face-to-face communication. Although this difficulty can be reduced by using certain software tools such as the online recommendation agent (Häubl and Murray, 2003; Xiao and Benbasat, 2007) and the online negotiation agent.
Media heavily affects the bystander effect and we can analyze this by using Max Weber’s theory of symbolic interactionism. Symbolic interactionism is the human interaction at a micro-level. Human individual would be at the centre of understanding society since social values are formed by individual interpretation.
Get original essayPeople assign different meanings to different things and people, and act accordingly. People are heavily involved with social media, their new technology that gives them the ability to share and spread news. Sure it can make us feel like social activists and may seem like the bystander effect would probably reduce. (Keshia Badalge, 2017)However it is not the case. If we see a situation going on, what we would quickly do is take out our cameras and start recording. We may think we’re helping, but all were doing is bystanding.
So due to this technology and the development of social media and the urge we have to post things up, it actually is dangerous and is worsening the bystander effect. We can explain this by symbolic interactionism as we interact with others. We do what others do and look at others to figure out what we should do and how to react.
Due to social media, the first thing we would do in a negative public situation is taking out our cameras to start recording. We now naturally symbolize a shocking situation with our camera phones. This is also what majority of the people standing by would do, so we would also want to do the same. Therefore, social media and technology seems to increase the bystander effect as we don’t even want to experience a real moment anymore without our phones taken out to record everything. So, during an even where there are bystanders in a public situation, we are unaware of how to help out, unable to decide whether we should help out due to the number of people occupied with cell phones recording, etc.
Yes, social environments impact the bystander effect heavily because from a psychological perspective we know that if there are more people in a certain area, the responsibility of a bystander is distributed evenly, eventually no one feels responsible enough to stand up to whatever is going on. Marx Weber had stated that people make out numbers and rationalize (rationalization) and assign different meanings to what they see and observe, which is called symbolic interactionism. We symbolize what we observe and not get involved in situations because from our micro-level perspective, we assume that if we were to get involved, we’ll worsen situations or get ourselves in trouble as well.
So, if we see a whole group of people in public bystanding, we would automatically do the same. We fear getting in unnecessary trouble or problems in our lives so that is why the bystander effect is so common in society. People rationalize because rationalization is when social actions are motivated by efficiency or benefit, not wisdom or emotion. If for example, a camera was seen by bystanders there is most likely that someone would be willing to help out in a situation in public in front of many other bystanders because they know that if they help out and gets recorded on camera, they have a chance of being rewarded or gaining benefits. If people don’t see how helping out during a situation can somehow help them out, they wouldn’t try to risk their safety and help whoever is being challenged in a public situation since no one else is.
We can also assume due to this that there is a difference between rural areas and urban areas when it comes to the bystander effect because we learned that the more people are the less likely it is for people to help out, and vice versa. Therefore, social environments are a key part in how people are going to act when a public situation occurs. It depends on many factors, such as urbanization, population, and relationships, etc.
In school, students are also taught meanings to different situations, things, etc. and how they should behave according to what they are taught. For example, respect parents, and behave with respect around higher authority people. This is symbolic interactionism as they are taught different meanings to different things. They are also taught at a young age not to get involved in situations that doesn’t belong to you, mind your own business, be independent, etc. this is programmed in our brain from a young age to not get involved in situations that has nothing to do with you, or else you will be faced with consequences. So educational systems have a flaw when it comes to teaching children how to not be bystanders because now, people symbolize getting involved in a situation with getting ourselves in trouble since that was what we were taught from such a young age.
We can also talk about structural functionalism which is when a society is stable when social institutions meet the needs of citizens. However Emile Durkheim did receive criticism because structural functionalism didn’t focus on the negative issues that come with trying to structurize everything. This is also an example of the bystander effect as because it fits into the category of the negative outcomes of society due to structural functionalism.
Rational decision theory also comes to define how schools teach children and how they behave, because if most children are doing what is told, others will follow through to try to fit in with society as well. This theory defines when people make rational decisions whether or not to participate in collective behaviour. They have specific number of people who must be engaged in a situation before people will join (threshold).
There is also a sense of not being held responsible because everyone else is taking part in the activity as well. This is exactly how the bystander effect is created in society. Therefore, if most children are involved in a situation, others are likely to join, but if no one is participating, no one will want to feel responsible for getting involved.
The convergence theory also defines the bystander effect as it is when a large group of likeminded people such as bystanders come together. They behave according to their own beliefs but do so with the protection of others behaving in the same manner. So, if most are just standing by and not doing anything about a critical situation, the rest of the people will also do the same. This is how the bystander effect led to the holocaust.
Educational systems teach not only one student, but several students in groups. And if most students are taught to be bystanders, the others will follow through and be bystanders themselves so they won’t be treated like outcasts.
The C.L.E.A.R. Model was designed to better facilitate kindergarten students’ learning while valuing their emotional state and making them enjoy the process of acquiring knowledge. Many say that educating young minds might be one of the most stressful and tiring jobs anyone could have, but there’s nothing compared to the rewards that come after being able to see that a student’s life has been changed and improved because of the learning you facilitated as an educator.
Get original essayPresentation of subject lessons is usually integrated in kindergarten that is why clarity of lesson and effective topic presentation is somehow hard to achieve, adding the fact that you are teaching and dealing with students aged 5 where their attention span is quite short. It is important to incorporate different teaching methods and strategies where they will be provided with the right resources and avenues to nurture their potential without stealing too much time from their early years of play and fun, all these are at the core of the C.L.E.A.R. Model. This model focuses on three trends in pedagogy that will serve as a good anchor for children’s development; crossover learning, emotion analytics, and random or incidental learning.
Education for the young ones should be fun and engaging, this may be achieved through providing learning opportunities outside the confines of the classroom. In this way children will learn to value the knowledge gained from their personal experiences of the lessons discussed in school, this is where crossover learning happens. According to Hildebrand, outdoor activities have outstanding contributions to young children's lives. Holistic development needs to be attained especially during these years, that’s why the goals of motor skill development are interrelated with goals for mental, social, and emotional development.
Morrison stated that it is necessary to promote positive social-emotional development in kindergarten students. According to him, this may be done by modeling positive emotional responses to students through story-telling and discussing the types of emotions such as anger, happiness, guilt, and pride. This is why the second trend for this model focuses on emotion analytics because it surely plays a big role in the formation of a child, it is important to process both positive and negative emotions they feel, for them to become more aware of themselves and eventually for them to begin to learn how to regulate these emotions which is vital as they grow up.
Panke (2015) defined random/incidental learning as unplanned and usually unintentional learning which distinguishes most of the fundamental milestones in early childhood development, this includes motoric development and social skills. And there are times when the unplanned learnings that children acquire is much more ingrained in them than those from structured learning.
This model highly focuses on emotions and social relationships including that of the teacher/parent/caregiver and student and how it plays an important role in the learning process of a child. The following theories have become the backbone of the CLEAR model:
Lev Vygotsky’s theory states that knowledge is co-constructed and that individuals learn from one another. In order for a student to attain knowledge, the presence and assistance of someone are needed. This is especially true with kindergarten students where there is huge role teachers and parents or caregivers must play as facilitators of the students’ learning. In addition learning and working in groups should also start to be strengthened during the early years as it is proof that children can help each other and assist one another to gain and co-construct knowledge. Collaborative learning environments are essential and the individual child should be highly involved in the learning process and in a way where he/she will value the learning that will be gained.
When children reach preschool age, they begin to initiate activities and assert control over their social interactions and play. Initiative vs. guilt must be resolved during this stage according to Erik Erikson. Children must be given the chance to explore within limits and learn through their own to develop confidence, adults role should be to support and facilitate the child’s learning.
Both theories, in a lot of ways, lead and contribute to the emotional development of the child. Thus, the emotional development of a child reflects social experiences, this is the reason why the CLEAR model gives an important weight on regulating and processing emotions of the children in preschool given that these are the first experiences they will be having and these experiences might create a big impact in their development.
As seen in the diagram, for children to be highly involved in the learning process and for them to enjoy and value its worth, the trends on the right need to be incorporated in the lessons presented in school. Emotion analytics is placed in the middle making it the core of this model, valuing and giving attention to the feelings of the students while learning, that is why the model emphasizes on the importance of emotion analytics during the beginning of the class and before dismissal. It is important to know what kind of students will you be dealing with for that day prior to the start of the class to also know and gauge what approach is appropriate to better facilitate their learning for that specific day. The same importance is placed on knowing their emotional state before going out of the classroom because as teachers you should have imparted not just knowledge but also a positive outlook and disposition to students, especially in their early years of education as this is the start where behavioral problems arise. This emotion analytics can somehow prevent these problems from occurring if the processing of emotions whether good or bad is being practiced by the teacher regularly. Although this model puts great value in incorporating emotion analytics before and after class it may be done all throughout the class session or as the need arises, as represented by the arrow pointing to it from the two other trends that will be discussed.
Crossover learning is also important so that the students will not get bored and may look forward to gaining experience outside the classroom. Actual experiences are great teachers, especially for children this age where exploration and play are of utmost value. This trend may be incorporated in the outdoor playtime or in the assignment or what is referred to as home-school learning integration in this model. This means that the objectives for a specific class day will be fully met by being able to think of activities that can be done in a different place apart from the classroom. But it is to note that activities should be well thought of, Petersen, emphasized that in preparing lessons teachers must have references on the sequence of child development to make sure that learning activities are age-appropriate and are focused on strategies that support children’s health and well-being. Parent involvement is needed to facilitate this learning hence the name home-school learning integration.
Parents must have a share in their children’s education and progress, and this helps them to become increasingly involved and effective in working with their own children and be knowledgeable about the operation of the school. Random or incidental learning may happen anytime during the class period as it is not planned. Hildebrand stated that five- and six-year old’s are highly curious about everything they see or hear. They like to question and experiment, and oftentimes want to take part in discovering and knowing how something works. Thus, teachers need to be prepared in responding to and processing any incidental knowledge gained by the K-students whether from their work periods or free play sessions.
Although this model aims to better facilitate the learning of the kindergarten pupils, challenges and limitations are also present; In emotion analytics, teachers might have a hard time processing every student he or she handles, but this may be achieved through an initial assessment on who needs urgent attention.
In crossover learning, other lessons might not have a direct link into activities that may be done outside the classroom, and not all parents may not be as supportive as the teachers wish them to be in facilitating the said learning at home. Moreover, finding time to do outdoor activities every day might not be practical and maybe a challenge on both teacher and student.
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Get custom essayIn addition, since kindergarten lesson plans are written differently than that of other lesson plans such as the grade schools, the success of this model will highly depend on the level of dedication of the teachers to incorporate the trends accordingly. As seen in the description of the model above, the application is predicted to be very flexible depending on what the situation in the classroom will call for especially in emotion analytics and random or incidental learning.
This project will require cabling to set up the network. There are a number of cabling options to be considered. These include the following.
Get original essayUTP-CAT5e is a copper cable that can transmits at speeds up to 1 Gbps.
Multimode Fiber Optic Cable will be used within the offices as they are cheaper than single-mode which is mostly used for long distance telecom networks. (Tomsho, 2012).
With each floor having over two hundred connections, there will be need for wiring closets that will make handing the myriad of wiring much easier. The closets should also provide a place where conducting troubleshooting operations can begin. These being rectangular buildings, the wiring closets will be placed at a corner on the third floor together with the datacenter. This will ensure that the computing equipment for the whole building is controlled from a single place. This particular are also provides for easier ventilation as it can be supplemented by opening it up. From a security perspective, the third floor also makes sense as it would be difficult for burglars to access it. (Tomsho, 2012).
A primary way to prevent attackers will be through physical security measures. With the two buildings going three floors each and the company being the single occupants of the buildings, this can be done easily. There should first be a CCTV camera system that covers the entire perimeter of the buildings. A central control room should be established at both locations to ensure that they can be monitored at all times. Access control to the buildings should include smart cards provided to all employees. Taking into account the extra security required for the Atlanta location with the two development teams, an added layer will be needed. The initial access to the building will require a smart card and a code that is changed daily. Further into the building will be biometric locks that provide access to the development areas as well as the data center. These biometric measures can include fingerprint and iris scanners. This will ensure that only those that have the appropriate authorization can access the secure areas. (Peltier, 2016).
Logical security will be very important for both locations. This is especially so for the Atlanta location that will also be housing the database and corporate web servers. The first task will be closing off all unnecessary services. The more services on a server means that there will be more ports open and this provide conduits for attacks on the system. This should also lead to higher performance as more resources are released. With the web servers, the application files and scripts should be kept on a separate drive or even partition than the operating system, system files and logs.
Mathematics has thousands of branches, and each branch means something different to every person. Some may know it as a useful tool that is a key to getting civilizations rolling. Others may just see it as bothersome and a tough grade in a class. Still, math is an important part to everyone’s life and can be related to even the smallest part of life. Calculus is one of the chief topics in mathematics. The formal study of calculus started from the 17th century by well-known scientists and mathematicians like Isaac Newton and Gottfried Leibniz, although it is possible that it has been at use as early as the Greek era. It is a mathematical discipline that is primarily concerned with functions, limits, derivatives, and integrals just to name a few. This discipline has a unique legacy over the history of mathematics. Even though it is split between the 2 definitions of Newton and Leibniz, it has still been able to create a new mathematical system and was used in a variety of applications.
Get original essayThere are 2 different fields of calculus. The first subfield is called differential calculus. Using what is known as derivatives, it studies the behavior and rate on how different quantities change. Using the process of differentiation, the graph of a function can actually be computed, analyzed, and predicted.
The second subfield is called integral calculus. Integration is actually the reverse process of differentiation, concerned with the concept of the anti-derivative. Either a concept, or at least semblances of it, has existed for centuries already. Even though these 2 subfields are generally different form each other, these 2 concepts are linked by the fundamental theorem of calculus. Though it is complicated to use well, calculus does have a lot of practical uses - uses that you probably won’t comprehend at first. The most common practical use of calculus is when plotting graphs of certain formulae or functions. Using methods such as the first derivative and the second derivative, a graph and its dimensions can be accurately estimated. These 2 derivatives are used to predict how a graph may look like, the direction that it is taking on a specific point, the shape of the graph at a specific point (if concave or convex), just to name a few. Though it may not seem this way, calculus can be used all over in real life. Physics, engineering, economics, statistics, and medicine are all professions that involve calculus. It is used to create mathematical models in order to arrive into an optimal solution. For example, in physics, calculus is used in a lot of its concepts. Physical concepts that use concepts of calculus include motion, electricity, heat, light, harmonics, acoustics, astronomy, and dynamics. Even advanced physics concepts including electromagnetism and Einstein’s theory of relativity use calculus. In chemistry, calculus can be used to predict functions such as reaction rates and radioactive decay. Meanwhile, in biology, it is utilized to formulate rates such as birth and death rates. In economics, calculus is used to compute marginal cost and marginal revenue, enabling economists to predict maximum profit in a specific setting. In addition, it is used to check answers for different mathematical disciplines such as statistics, analytical geometry, and algebra. As you can see, calculus has a huge role in the real world. For most professions, learning it is the key to success.
So this is why you can’t dismiss calculus as just another nuisance. If it is, interest on the matter wouldn’t have lasted as long as it did.