Economics of exchange rates Essay Example | Topics and Well Written Essays - 1000 words

Economics of exchange rates - Essay Example Operating under such a business scenario is too risky for any business. This is because, regardless of how much sales a business makes, and regardless of how much a business tries to minimize its costs and expenditures, it will always find itself on the receiving end, where its performance is not dependent on its efficiency or effectiveness but rather on the behavior of the foreign exchange markets (Sarno & Taylor, 2005, p. 83). XJP receives virtually all its supplies directly from J&J Ltd, which, in turn, invoices all the costs and expenditures in Euros. On the contrary, XJP makes its sales in Chinese Renminbi. Therefore, it has to convert the income made from the sales from the Chinese currency into the Euros so that it can submit its payment to J&J Ltd. This means that the amount XJP pays to J&J is not solely dependent on the value of the supplies it receives from this company, but also on the rate at which the Chinese currency exchanges for the Euro.... However, if the foreign currency gains over the local currency, XJP will be forced to pay the cost of supplies at higher costs. This will in turn reduce its profit margin (Moffett, Stonehill & Eiteman, 2008, p. 254). Therefore, system through which XJP and J&J structure and manage their currency exposure is not suitable for the business, since it influences their performance and growth negatively. This is because, even when they apply suitable strategies to grow their business and increase their profitability, it is not possible to achieve their targets, since the target will always depend on the exchange rates (Sarno & Taylor, 2005, p. 90). Therefore, the most suitable way for them to structure their business is employ a system that allows XJP to purchase and pay for its supplies using the local currency. This will serve to remove the uncertainty involved in the operation of the foreign currency markets, making it possible for the business to Strategize on improving its profitabilit y and consequently achieving the desired growth (Coyle, 2000, p. 41). Case Question 2: The situation in which XJP finds itself is very different from that of other foreign subsidiaries owned by J&J worldwide. This is because, while the other foreign subsidiaries are decentralized, allowing them to take responsibility of their own structure from top to bottom, the case is different for XJP. The organizational structure of XJP is characterized by a lot of control from its parent company. Thus, XJP is not capable for planning and procuring its own supplies, inclusive of the raw material, but instead depends on J&J to supply it accordingly (Moffett, Stonehill & Eiteman, 2008, p. 255). This arrangement might be beneficial for enhancing

I will fill this to blog Essay Example | Topics and Well Written Essays - 750 words

I will fill this to blog - Essay Example The reality too is that in spite of this generational dance, of young people being exposed to and trying drugs, majority of college students move on to live productive academic and adult lives, unscathed by the brush with drugs. It is true too, that a percentage of students will become hooked, and will have negative life outcomes as a result. This dynamic too is well-mapped and observed as persisting through the generations. Is this a matter of framing then, this â€Å"issue† of drug use in college? is there a better way to approach the phenomenon, and to better secure the welfare of majority of college students? We have been trying to suppress drug use and to police and monitor students for decades, with no observable impact on drug and alcohol use. Are we trying to push back something that cannot be stopped? Do we need to reexamine how we view drug use in college, and re-examine too our notions about the sense of responsibility and the intelligence of young people on the cus p of adult life? (Drugwatch.com; Purdue University; Addiction Intervention; Amaro et al.; National Institutes of Health; CasaColumbia). Yes, as students, we have the power to keep ourselves informed about the reality of drug use in college. Many among us will do drugs and alcohol, but we need to be made aware that we will not be the first ones to do so, and we will not be the last. This has been the reality among students from past generations all the way to this one. The dance between school and community authorities on the one hand, and students on the other, is as old as time it seems. The reality is that students seemingly need to try out all kinds of things as part of the rite of passage to adulthood, the way young people experiment with sex too. Yet we also need to be aware that there is help for those among us who will try drugs and alcohol, and that

Art Essay Example | Topics and Well Written Essays - 1000 words

Art - Essay Example The World of Art: Concepts of Art: Going through the book, different concepts can be unlearned through which an art or a craft is presented. The most important concept in the creation of an art seems to be the use of different medium available in an artist’s surroundings. The concept of aboriginal rock art enhances on the fundamentality of the experiences by human that lead him to create an art. The use of chalk and charcoal could be observed as another concept of making art that descriptively presents a matter in front of others as given the name of delineation. Smudging is a procedure that can be applied on such charcoal paintings which is another concept of art creation and presentation. The use of pastel and pastel oil sticks have also been reflected through the book as several artists have made use of these in their paintings. Another concept of painting is the ‘wash and brush’ where the painter dilutes ink with water and then apply it on broad areas for maki ng the painting. The book also presents other aspects of craft apart from painting that include printmaking and creation of crafts. The technique of printmaking also involves several concepts some of which as mentioned in the book are woodcutting, wood engraving, linocut, engraving and etching. These are different forms of printmaking and uses different mediums for the design of the print, for example, in case of wood engraving, the print is created by engraving designs on the wood. These designs would then be filled with colors and inks. Lithography or writing on stone has been presented as another form of art creation. Finally the book also presents the creation of crafts through the use of different concepts like the glass, fiber, ceramics, and wood that can be used in the designing and creation of different crafts (Sayre, 169-320). Artists and their Arts: The book presents the arts and creations of several artists. The Allegory of Painting is an art created by Jan Vermeer that s hows the use of each and every medium present in the surroundings of the artist. An ink and wash concept has been used in the creation of the Workshop of Pollaiuolo which was a drawing of the times of Renaissance. It presents a view on the unavailability of paper and hence the use of wood to carve out arts as portrayed through the painting. A magnificent painting has been created by Leonardo da Vinci named as Study for a Sleeve with the use of pen, chalk, and lampblack. The paintings created by Leonardo generated a seriousness of the contribution of art on the paintings and also inspired several other painters of the time. Oil paint was used by Raphaiel in his creation of The Alba Madonna and the painting marvelously portrayed the human expressions from in depth of their hearts. The Banana Flower art created by Georgia O’Keeffe was done with the use of charcoal and black chalk. Another artist, Georges Pierre Seurat, created the painting Cafe Concert with the use of crayons on Ingres paper. Vija Celmin had presented a graphite drawing unique in its character in the way it presented the picture of an ocean. The name of the painting was Untitled (Ocean) (Sayre, 169-179). Mary Cassatt learnt the use of pastel and became famous for her drawings associated with mothers and children, one of which was reflected through the painting named Young Mother, Daughter, and Son. Artists like Elisabetta Sirani and Jean Dubuffet were also famous for their use

Cybersecurity Assignment Example | Topics and Well Written Essays - 750 words

Cybersecurity - Assignment Example This initiative is also geared towards ensuring, supporting, and facilitating innocuousness in all aspects of the Internet. It is important to consider the fact that this initiative involves and encourages the participation of almost all individual including the government and the public in general. Importance of NICE framework Based on the ever growing use of the internet, there has been the need of knowledgeable and talented individuals to protect, safeguard, as well as preserve various information structures set up and implemented within the country. According to National Initiative for Cyber Security Education (2012, p.9), â€Å"Across the nation, private and public sector organizations are looking for well trained professionals to assess, design, develop, and implement cyber security solutions and strategies†. Therefore, it is important to note that this initiative aims to elevate or upsurge the quantity of individuals fresh from college possessing the necessary knowledge , talents, and abilities to counter the problems associated with cybercrimes. This initiative also aims to engage other individual organizations in making this dream come true. This initiative also presents the basis through which individual organizations as well as professionals can participate in making the cyberspace safe and secure. Proposed Examples There are a lot of examples that can be used to describe the importance of this initiative in cyber security. First, this initiative can ensure that all workers in a particular organization acquire the necessary skills and knowledge to prevent and mitigate consequences of cybercrimes. It is import for employees to be aware that saving or storing sensitive information regarding the company is dangerous as hackers can access such information easily if strategies are not put into place to mitigate it. Secondly, educating students and other individuals on the importance of securing personal information such as names, national security n umbers, and bank information would prevent identity theft. Thirdly, this initiative can work hand in hand with local cyber cafes in ensuring individuals using the internet are monitored. This would prevent against individuals who prey on others and consequently steal their personal information. Expected outcomes The final outcome of this initiative is to provide and elevate the level of contact and coverage of cyber security through training and teaching the public. This initiative will also elevate the variety, assortment, and number of courses related to science in a bid to produce more individuals or professionals to take up cyber security roles. More professionals in this field will ensure that more research as well as important methodical studies is conducted to identify novel ways of cybercrimes and as well devise ways to counter their effects. This initiative also aims at ensuring an adoption of a cyber-security agenda and contrivances necessary to combat cybercrimes (Choi, 2 005). Implementation of framework Organizations can implement the NICE framework through a number of ways. For instance, they can ensure that all sent information or data is controlled and regulated. Strategies can be implemented to ensure that

Research Methods -Research Critique Term Paper Example | Topics and Well Written Essays - 1000 words

Research Methods -Research Critique - Term Paper Example The research is characterized by biases in different aspects. The biases are depicted through non-randomness problem stating and investigation. Also, the unbiasedness of the research contributed to an imbalanced nature in the sense that the buffer group had four areas, the control group three areas while the treatment group had only one area. The three areas used collective qualitative data type. This data type consisted of both the independent and independent variables. The reader of the data can be able to verify it thus proving that the data source was reliable. The reader can also be able to compare the data with others data’s enhancing it verification ability. The process used involved the choosing of buffer areas. The areas were used to estimate the extent of displacement benefit. The collected rates were later summed up to provide compounded measure of individual death rate inside the buffer area. Adequate samples were collected which gave enough and relevant data, this made the sampling procedure used the best for that study. Dependent variables that provided enough information included the BSI tracking system and the State and National vital registration. Sufficient statistical figures were obtained from these sources. The dependent variables were directly related to the research making the information they provided first hand. Two assessments were done to get essential research findings. The first assessment showed that the BSI program contributed to a significant reduction in immigrant’s death rate. The second evaluation also showed a reduction in immigrant’s death rate due to a fast response of bolster agent. Traditional research execution methods were adhered to making the data from available sources reliable. The greatest limitation is that the effort by all the parties in the border trying to save immigrants lives are not recognized. The research only focuses on the two primary assessment

Alternative energy sources Essay Example for Free

Alternative energy sources Essay The age old question of how will we power our homes and lives in general moving forward when all the oil runs out, and one day it will. The world needs to move in a direction that will lead to energy independence however businesses and society is slow to move because we cannot see the impacts until it hits home in that all of sacred places, our wallets. Changes need to be made but can we afford it or can we afford not to make the move that will ensure our future for generations to come. Fist let us look at why we chose fossil fuels. The fossil fuels we largely depend on today are coal, oil and natural gas. They are called non-renewable energy sources. That description is actually another way of saying we use them faster than they form. Over 100,000 times faster to be exact! So how did we ever decide this would be the primary energy resource to power human development and progress? It all goes back to human mastery of fire to provide warmth, light and a means of preparing more palatable and easily digestible foods. To the early humans, fire was the equivalent of having a little sun with them wherever they needed or wanted to go. With this energy available at anytime and anyplace, humans could begin to spread about the world and thrive, regardless of the climate or amount of sunlight available. It provided the power for humans to begin their mastery of Earth as a species, less vulnerable to extinction than all other animal species, yet with a greater ability to bring about change — for good or bad. There are many alternative energy sources that we can see and put our hands on but they all have pros and cons. Some are either too expensive or not viable as a long term source of energy in comparison to oil. Our infrastructure is built around coal and oil dating back to the industrial revolution. From our cars to the power that runs the microwave in the kitchen fossil fuels are a part of our lives but they are running out, killing the environment in more ways than one and becoming more and more expensive to produce due either war or scarcity. Then when we complain about the price or the consequences of drilling or burning fossil fuels the best our governments can give us is talk with little action because those in  power are more about money which comes from the companies and people who spend money on their campaigns to get re-elected. When one thinks of alternative energies the first thing that springs to mind is solar energy and why not, we the sun is not going anywhere any tim e soon(at least we hope not) and there are very few places that don’t get sun for most of the 24 hours in a day. So why do we not all have a solar panel on our roofs and cars? One reason is because it is not cost effective and cannot produce enough energy for most people to make it worthwhile. Our mind set is always going to be one of why should we invest in something that does not do what oil and gas can? With the economies of the world in jeopardy and more and more people out of work, asking them to do their part to help the environment is just not realistic. Until science and business can make solar power more viable we as average citizens will not make the change while we have oil and gas still. Unless we either just run out or we can no longer afford fossil fuels we as a society will not make our lives any harder by switching to an alternative energy source that is still not viable nor is it cost effective. Another disadvantage to continuing with fossil fuels is the continued and escalating tension in the Middle East. The cost alone of defending the oil that we use and take for granted is astronomical not to mention the loss of life which cannot be measured. The thought that we as a society have not moved past killing one another for an inanimate objects is shameful. That we have no evolved morally past the point of killing for energy is a discredit to how far we have come as a race. If we would take the money that we spend on defense and guarding oil rigs and clean ups when things go wrong and put it toward improving solar and fusion nuclear power we might find yourself energy independence sooner rather than later. Wind is the next source of alternative energy that has people all a buzz with excitement but is it truly viable? This alternative can seem very attractive but again is the cost of a wind turbine and the land needed to build wind farms is substantial to produce enough energy. So then the question is just like with solar energy, we need so much space to make enough energy that it just cannot compete with fossil fuels no matter what the environmental impact. Alternative energy just does not have enough clout with governments to push their clean energy agendas that it just is not a short term solution. The main problem that we all can see is that  alternative energies cannot do what oil and gas do now. Wind will not let us drive 400 miles to where we want to go when we want to. Solar or battery power is unreliable because it takes time to recharge a battery with solar energy and no one has been able to come up with to date a viable mass producible car that uses solar power. Even hybrids and battery power cars just can give us the flexibility with which gas driven cars can. When something can’t make what we already have better and at an equil or lesser cost to us will not gain ground. We are a visual society and unless someone comes up to us and says that the earth is going to end in 50 years unless we all drive hybrids were not going to do it. It is not in our nature and thus it won’t make any difference what innovations businesses and science come up with. As for oil itself it is going to take something like nuclear fusion or a more advanced solar cell to move us a way from oil. Nuclear power has always been taboo or in simpler terms a ‘Not in my back yard’ energy source. Nuclear fission is a source of energy that is viable and being used to day however the need to increase nuclear fission sites has the environmental community in an uproar. It is a well-known fact that these types of reactions produce waste products that are extremely dangerous not to mention a nuclear fission plant can either be attached or have an issue that would cause an environmental catastrophe which makes the idea of building newer, safer plants an unrealistic idea. The consequences of nuclear fission just do not out way the ramifications of environmental issues that could come of a disaster like Chernobyl. Nuclear fusion is a far more environmentally safe way to produce nuclear power and produces no waste products unlike fission and if an issue were to arise the reaction of fusion just stops and no radiation is not leaked nor is there an explosion of any kind. The proble m again with nuclear fusion is at the moment costly and cannot produce enough power to out way the cost and energy it takes to produce power. This like solar power is where we need to be placing our faith in the future of power in our country and around the world because oil will run out or it will become too costly to produce or something is going to happen that will be so catastrophic that we as a race will say enough is enough but until that time comes were not going to change our ways. Despite nuclear energy’s role as a significant power supply source, it is highly unlikely it will survive past the 21st century, especially since the recent Japanese  disaster. Many people are against it, storage of its highly radioactive wastes is difficult and costly. There are not enough ores available to maintain continued production of nuclear energy, and most of today’s nuclear plants will reach the end of their life span within the next 50 years. McLamb, Eric(2010). Just another reason for moving towards fusion and putting the money that we might use to build new fission plants which could again like the Japanese r eactor disaster fusion will not have that problem. There are many other forms of alternative energies such as geothermal and hydro power as well but again just like all the other sources, it is not producing as much power as fossil fuels and we are not spending our time and resource to improve these more available and attainable but again we sit with oil still. At the end of the day something dramatic is going to need to occur to push humanity towards a different source of energy but until we can see positive results on a massive scale we are never going to change our ways. As stated before if our planet were to end tomorrow I still don’t think we would change how we do things because we as a people are selfish and only care about what goes on in our homes as opposed to what is going on around the world. Will alternative energy source replace fossil fuels and clean up the environment. The answer is yes but what is it going to take to push us over the edge. Will it be a major environmental disaster, a global shortage of oil, or a scientific advancement that will revolutionize our way of life in a way that oil did when we first started to use it for our day to day to day lives. We can only hope but we are going to have to do something because we cannot continue down this path of ruining our resources and our planet. References Berger, A.A (2008). Seeing is believing (J. Wetherington, Ed. 3rd ed), Boston: McGraw-Hill Mc,Lamb, Eric(2010). The Secret World of Energy(http://www.ecology.com/2010/09/15/secret world-energy//)

Business plan for PARAMOUNT SENIOR CARE SERVICES

Business plan for PARAMOUNT SENIOR CARE SERVICES Paramount Senior Care Services Inc. (Paramount) is a new home health care company in its start up stages. It will offer in-home care services to patients and clients from Halton-Peel region of the province of Ontario, Canada. Our value proposition is to offer quality, personalized, customized care, support and assistance to seniors and families to help them maintain their independence at the comfort of their own homes at reasonable cost. Paramount has a unique competitive advantage; it is offering a one-stop-shop home care service for senior: skilled home health care, companionship; cleaning and housekeeping services; home repair, renovation and maintenance at reasonable price. Paramount is providing the senior and families the benefits of living in an assisted facility in the comfort of their own homes. There is an expected growth in the demand of health care in Canada over the next 30 years, largely due to unprecedented growth in the number of seniors. According to Statistics Canada there will be a 30% increase in Canadas senior population annually from 2006 to 2016 or 4.3M to 9.0M respectively. The population based in Canada is aging, including residents of Halton-Peel Region, and more of the seniors opting to stay in their own homes as long as possible. Even after their hospitalization for example, they rather recuperate at home rather than proceeding to a nursing home or rehabilitation clinic. At the rate of 57% growth of senior population in Halton-Peel region from 1996 to 2016 as projected by Statistics Canada, the senior population aged 65 to 85+ in the region for the next five years will be from 222,921 to 242,459; trend is growing by 30% annually in succeeding years. Paramount customer base will be through referrals from physicians, social workers, other health care profess ionals and community care facilities in the region. There is a strong competition in the market, however, Paramount will position itself as unique one-stop-shop home care service for seniors with competent, caring caregivers and professional management. Our companys business model includes several revenue streams from services we offer such as skilled care-nursing care, physical therapy, speech therapy or occupational therapy; companionship; housekeeping; and home repair, renovation and maintenance. In the home care business, the terms of payment for services rendered usually takes up to 30 days. In this regard, Paramount is looking for additional funding to support the cash flow for the initial operation, in the form of a 5-year loan in the amount of $50,000 at the prevailing interest rate. The company will not take up any further loans, as it plans to support the growth through its cash flow. Company Overview Paramount Senior Care Services Inc. is a start-up company in its initial year of operation. Our company will be located in Mississauga. It will offer in-home care services to patients and clients, who prefer to be assisted and taken care of in the comfort of their own homes, from Halton and Peel District region which includes the cities of Mississauga, Brampton, Caledon, Milton, Oakville, Halton Hills Burlington. Offering: Skilled Care- Nursing, Physical Therapist, Occupational Therapist, Speech Therapist Personal Support Care Companionship Housekeeping Home Repair, Renovation and Maintenance Value Proposition Our value proposition is to offer quality, personalized, customized care, support and assistance to seniors and families to help them maintain their independence at the comfort of their own homes at reasonable cost. Mission Statement Paramount Senior Care Services strives to offer superior and reasonably priced home health care to individual and families in Halton-Peel Region providing with competent, reliable health care and professional management. Company Ownership Paramount Senior Care Services Inc. is a limited liability partnership owned and operated by: Severina Saliva-Parayaoan Arlyn Gardon, RN Ben Dimaano Business Model Our company have several revenue streams from services it offers that includes income from skilled care, companionship, personal support and services, housekeeping and companionship, and other special services in home repair, renovation, maintenance and security services as outlined in the diagram below. PARAMOUNT SENIOR CARE SERVICES INC. Business Model Profit Key Personnel /Resource Cost/Expenses Revenue Streams Customer Segments Strategic Goals Objectives Key Strategic Areas of Focus Year 1 Year 2 Year 3 Sales Revenue 10% annual growth 10% annual growth 10% annual growth Profit before Interest Taxes 40% of sales 40% sales 40% of sales Net Profit At least 20% of sales At least 20% of sales At least 20% of sales Geographic coverage- # of locations Focus in Halton-Peel Region Expand nationwide thru franchising the companys business in Edmonton and B.C. Expand internationally- US East coast and the Islands of Bermuda Customer satisfaction At least 80% customer retention At least 80% customer retention At least 80% customer retention Service Overview Paramount Care Services Inc. offers excellent home health care services such as skilled nursing care, nursing aide, speech therapy, physical therapy, or personal support services; companionship: personal hygiene, meals preparation, housekeeping, laundry, transportation and shopping. We also provide home repair, renovation, security and maintenance to upgrade home facilities adaptable to seniors changing lifestyle and physical mobility. The following are the list of services and its features. All aims to benefit the seniors and family with peace of mind, convenience and assurance of excellent personal health care and care of property- providing the benefits of assisted living facility in the comfort of their own homes. Skilled Care features: Nursing Care Physical Therapy Speech Therapy Occupational Therapy Personal Support Care features: Assist in personal hygiene and grooming Morning Care/Bedtime Care Catheter care Etc. Companionship features: Companionship on travel Respite care while in the hospital or at home Meals preparation Grocery shopping Medical appointment Beauty Salon or Barbers appointment Engage in interactive activities Pet Care Etc. Housekeeping features: Cleaning inside the house Cleaning windows Laundry, etc. Home Repair, Renovation and Maintenance features: Toilet and bathroom renovation Installation of handrails in bathrooms or stairs Plumbing Electrical Carpentry Gardening and Lawn Maintenance Snow removal Country Analysis- PEST PEST Analysis- Canada Establishing a senior home care business in a democratic country like Canada is projected to be successful. Canada has a strong and stable economy where seniors are protected and covered with health care insurance and benefits, and labor laws pertaining caregivers and health care professionals are in place to support the growing and changing needs of the countrys demographics, supported with highly advanced technological infrastructure with a general hospital in every major city and good route accessibility. Political and Legal Factors Democratic country Health insurance for seniors are mandatory and well-established Laws and regulations supporting and encouraging seniors home care health services Labor laws and immigration laws encouraging caregiver programs Economic Factors Strong, stable economy Senior citizens are provided with health care benefits and allowances Growing population of seniors at the rate of 30% annual growth rate Increase in demand in seniors home health care services Growth in immigration particularly in health care profession Socio-Cultural Factors Seniors in Canada are usually taken care of caregivers other than family members Family members are usually busy with careers and can afford to hire caregivers for elderly members of the family rather than to give up their work Seniors prefer to stay in the comfort of their own homes as long as there will be proper caregiver to assist Technological Factors Highly technological infrastructure with very good access to telecommunications including telephone, internet, etc. Service Business-Industry Analysis To summarize the industry analysis using Porters Five Forces: Barriers to Entry is low, considering home care services are considered as home-based business threats of new entrants is high. Suppliers Power is low, although nurses and health-care related professionals are in demand there are more people who are also getting qualifications in health care as second career as well as qualified new immigrants coming to the country. Buyers Power is high, considering there are many choices referrals and recommendation from key partners is highly important. Threat of Substitute is high, as there are many alternative service providers in the market. Competition/Rivalry is high, existing large private companies are dominating the market plus the presence of major franchise companies. Due to the increasing demand and growth of the industry, senior home care business is still consider to be an attractive industry even though the rivalry is high. Marketing Plan Market Analysis Summary There is an expected growth in the demand of health care in Canada over the next 30 years, largely due to unprecedented growth in the number of seniors. The forecasted numbers are below*. Year Number of Seniors Population Share Ratio of Seniors 2006 4.3 million 13.3% 1 in 7 people 2016 5.7 million 16.6% 1 in 6 people 2026 7.7 million 21.4% 1 in 5 people 2036 9.0 million 24.5% 1 in 4 people * Statistics Canada, CANSIM, Table 052-0004 and Catalogue no. 91-520-X. 2005. Based on the above information, there will be a 30% increase in senior population annually from 2006 to 2016. The consumer base for Paramount Senior Care Services Inc will be patients referred by social workers, physicians, health care facilities and other health care professionals as well as satisfied clients and their families. The majority of these patients will be covered by OHIP with a smaller portion being shouldered by the patients and/or families. Market Segmentation The population based in Canada is aging, including residents of Halton and Peel Region, and more of the seniors opting to stay in their own homes as long as possible. Even after their hospitalization for example, they rather recuperate from home than proceeding to a nursing home or rehabilitation clinic. Population Estimates and Projections by CSD for Halton-Peel Region, 2001-2016 Census Subdivision 1996 Population 2001 Population 2006 Population 2011 Population 2016 Population Peel Mississauga 563,000 613,000 653,000 676,000 694,000 Brampton 277,600 321,000 382,000 445,000 510,000 Caledon 41,200 49,000 58,000 67,000 76,000 Total 881,800 983,000 1,093,000 1,188,000 1,280,000 Halton Oakville 132,300 146,300 161,300 184,900 214,900 Burlington 141,100 154,800 164,300 172,200 178,900 Milton 33,100 37,100 58,000 71,000 84,200 Halton Hills 43,700 49,000 54,800 60,000 65,000 Total 350,200 338200 438,400 488,100 543,000 Grand Total 1,232,000 1,321,200 1,531,400 1,676,100 1,823,000 From 1996 to 2016, Halton-Peel regions population is projected to experience a growth rate of over 50%, compared to a provincial average of approximately 25%, as per Ontario Ministry of Health and Long-Term care Provincial Health Planning Database in 2001. Population in Halton-Peel Region, by Age and Sex, 2000 (Ontario Ministry of Health and Long-Term care Provincial Health Planning Database in 2001) Halton Region Peel Region Target Market Segment- Trends and Growth Based on the above data, at the rate of 57% growth of population from 1996 to 2016 as projected by Statistics Canada, the senior population aged 65 to 85+ in Halton-Peel region for the next five years will be as follows: Year Halton Region Estimated Population Peel Region Estimated Population Estimated Total Population Projected Senior Population (65 and above) (13.3% of Total) 2011 488,100 1,188,000 1,676,100 222,921 2012 497,862 1,211,760 1,709,622 227,380 2013 507,819 1,235,995 1,643,814 231,927 2014 517,976 1,260,715 1,778,691 236,566 2015 528,335 1,285,929 1,814,265 241,297 2016 543,000 1,280,000 1,823,000 242,459 The total size of the market representing projected senior population in the Halton and Peel region is 222,921 in 2011 to 242,459 in 2016; and expected to increase by 30% in the succeeding years. Out of the total market size, Paramount Senior Care Services, Inc target market share for the first three years of operation is 0.12%, 0.13%, and 0.14% or 276, 303 and 333 patients/clients respectively, at 10% sales annual growth as illustrated in the table below. Year Projected Senior Population (65 and above) (13.3% of Total) Target Market Share in % Target Number of Clients/Patients/day (year) Growth Rate 2011 222,921 1st-2012 227,380 0.12% 23 (276) 10% 2nd-2013 231,927 0.15% 25 (303) 10% 3rd-2014 236,566 0.20% 27.5 (333) 10% Our primary market segment includes those seniors 65 years old and above who require health care services or companionship by home health nursing staff or personal support workers. As well as, individuals who have suffered stroke, and other physical ailments resulting to personal injury requiring rehabilitation care, respite care, speech therapy, physical therapy, or care management from skilled nurse or therapist or personal support worker in their own homes. These patients and their families may also require other home services such as meals preparation, cleaning, housekeeping, transportation and shopping as well as home repairs, renovation, including property and lawn maintenance, home security and emergency alarm. Target Market Segment Strategy Initially, our company will focus on those market segments that require only home-based services where our services are mostly needed. This will greatly decrease overhead, since additional office or facilities will not be required. In the long term, maybe after five years of successful operation opening of an assisted living facility will be an option. Competition and Buying Patterns The following are key factors considered by the consumer and healthcare professionals when referring home health care services: Trust in the reputation of the service provider Reliability and timely delivery of services Quality of services by the service provider Price comparative to other providers Competitive Analysis Key Factors Paramount Care Services Home Instead (Private) Nurses Next Door (Private) Guardian Angel Care (Private) Public sector-i.e. Red Cross, Victorian Order of Nurses,etc Strength One-Stop-Shop care for seniors Franchise proven business and strong support Franchise proven business and strong support Hospice, palliative end of life care Community services and link with government/ Hospitals Weakness New company with no strong clients base yet Categorize as more expensive in the industry Categorize as more expensive in the industry Lack of personalize care Limited to health care service only (no cleaning/ housekeeping) Unique Selling Proposition One-Stop-Shop care for seniors Patented CAREgiver program Guaranteed nurses just next door of the clients Specialized in hospice, palliative end of life care Community service supported by the government Trust in the professional reputation Medium-as we are a start-up company High-due to brand image High-due to brand image High-due to number of years in the business High- due to established and proven organization and community service Reliability High-24/7 service High-24/7 service High-24/7 service High-24/7 service High-24/7 service Quality of Services High- regulated by law High- regulated by law High- regulated by law High- regulated by law High-regulated by law Price Lower than franchise competitors Expensive Expensive Competitive As per OHIP Notes: The table above shows a strong competition in the home health care industry. However, Paramount Senior Care Services Inc is positioning itself as health care company providing affordable rates for seniors and families having a limited budget which represents a majority of seniors in the target market areas with our unique offering of one-stop-shop services for seniors. Competitive Advantage Paramount Senior Care Services Inc. is a newly set up business that has a unique competitive advantage offering a one-stop-shop for senior care: home health care and companionship; cleaning housekeeping services; home repair, renovation and maintenance at reasonable price. Paramount Senior Care Services is providing the senior and families the benefits of living in an assisted facility in the comfort of their own homes. Strategy and Implementation Summary Paramount Senior Care Services Inc. will initially focus on Halton and Peel District within the province of Ontario, Canada. Within this geographical area we will target on senior home care program. Within this area we have two target markets: the individual client, and the regional physicians, hospitals and other health care facilities and insurance companies. Marketing Strategy Product/Services Our primary focus is home health care services to seniors. We will provide seniors a One-Stop-Shop in all their home health care services need; it will provide convenience for seniors and their families. Pricing Strategy Our company pricing system will be set according to OHIP and other private insurance regulations, and is reasonable and competitive. We will do so by developing a contracted service from health-care staff on hourly, daily or weekly basis and only limited full-time employees as full-time staff. Distribution Strategy Our company will focus in the Halton-Peel Region where the projected growth of seniors is higher than the national average. Our company will build strategic alliance with health care facilities in the region primarily Trillium Hospital in Mississauga, Credit Valley hospital, and the new general hospital in Milton as well as community centers and health care practitioners in the region. Promotion Strategy Marketing our company as a service-oriented business requires establishing a good reputation for expert care and superior quality service. It starts with our existing contacts currently in positions to make recommendations and referrals to us, and we will continue with our efforts to network, integrate with the community health care professionals in the region. We will participate in community events in the region to build contacts and generate more referrals. We will create marketing communications and promotion materials in a business, professional manner, as well as our marketing tools such as flyers, brochures, business cards and advertisements. Sales Strategy Our patients and their families, as well as referring physicians and healthcare professional must be satisfied with our service, as we sell superior care, 24/7 availability, reliability and good relationships. Growth in service industry often resulted to loss of quality control that causes client dissatisfaction, increase in complaints and eventually loss of customers. In this regard we will constantly focus on superior quality of service. Sales Forecast The companys projected annual sales for the first three years of operation are as follows based on the assumption: Using conservative estimates Assuming to acquire a share of only 0.12% to 0.13% of target market An average of six hours service per client An average rate of $25/hour Target growth rate of 10% annually Sales Forecast Year 1 Year 2 Year 3 Sales Target Market Size 227,380 231,927 236,566 Target Market Share 0.12% 0.13% 0.14% No. of Patients or Clients 23 25 28 Ave. Hours/Patient/Day 8 8 8 Total Service Hours/Day 184 200 220 Ave. Rate/Hour $25.00 $25.00 $25.00 Total Sales/Day $4,600.00 $5,000.00 $5,500.00 Total Sales/Month $92,000.00 $100,000.00 $110,000.00 Total Sales/Year 100% $1,104,000.00 $1,200,000.00 $1,320,000.00 Direct Cost of Sales at 6% of Sales 6% $ 66,240.00 $ 72,000.00 $ 79,200.00 Gross Profit 94% $ 1,037,760.00 $ 1,128,000.00 $ 1,240,800.00 Geographic Expansion Plan Year 1- Halton Peel Region in the Province of Ontario, Canada Year 2- To expand operation nation-wide by second year of operation by expanding in British Columbia and Edmonton. Year 3- To expand operation internationally by third year of operation; to start in the United States by entering New York City in US East Coast; and the Islands of Bermuda in the Atlantic. Operations Day-to-day Operations Office Location: Main office in Mississauga with sub-office in Milton Office hours: 8:30 am- 5:30 pm Mondays-Saturdays at the main office location in Mississauga. Operating hours: 24/7 on call in case of appointment schedule, clients visit or emergency. There will be an assigned manager to handle calls during out-of-office hours on rotation basis. Client call and visit schedule. Staff and sub-contracted parties work schedule and assignment making sure clients/patients will be attended as required. Office Requirements Telephone 4-in-1 printer, copier, fax and scanner machine Computer for office use Office table and chairs Office supplies- stationary, etc, Legal Compliance Business license and registration Incorporation Taxes Bond, security and liability insurance Legal documentations CPA retainer Health Compliance Accreditation and certification from government agencies Certification and qualification of staff and skilled professionals Management Information System QuickBooks software program for accounting, finance and payroll recording and management Company website Internet connection and email Data Base Management Customer Relationship Management Communications Brochures Print ads Presentation folders for clients and partners in health care Medical Supplies Equipments Basic supplies in handling patients such as clinical gloves and masks Risk Management There are several identified potential risks in home health care industry, our company have identified some of them and have established mitigation plan to manage the risk accordingly as described in the table below. Potential Risks Mitigation Plan Injury, accidents and/or death Loss/theft on clients property Internal breach of security (i.e. credit card use, unauthorized use of data by employees or third parties) Health care recording process quality control management in place to prove proper care or negligence Bond and insurance coverage Liability waiver Background check on staff and sub-contractors/partners is mandatory Bond and security liability insurance Liability waiver Organization policies and procedures in handling documentations must be in order Data encryption Electronic form and signature Offsite storage Management and Organization Summary Paramount Senior Care, Inc. initial management team will consist of a Managing Director, a Case Manager, a Maintenance Manager, six employees, and contracted caregivers and housekeepers, a contracted agency to fulfill the need for Physical Therapists, Occupational Therapists, and Speech Therapists. Initially, all managers will also provide direct service. Severina Saliva-Parayaoan has a Bachelors Degree in Business Administration major in Accounting and currently finishing a post-graduate certificate in Global Business Management. She has over ten years experience in business development, management and administration. She will provide all administrative direction and will perform most of the administrative functions with assistance from the Administrative Assistant. She will also supervise housekeeping service. Arlyn Guardon is a registered nurse and has experience as a Skilled Nurse and Care Manager for a Home Health Agency will be the Case Manager. She will also provide direct nursing services during the initial stages of the business, as well as supervising the nursing and caregiver staff. As the need for the service providers grows, both managers will assume primary roles in management and will delegate direct service to employees. Ben Dimaano is a licensed home technician in Ontario and has over 10 years of experience in home repairs, renovation and maintenance. He will be the Maintenance Manager responsible for the HRRM Department. Organizational Chart Personnel Plan Assumptions: Owners will not receive salaries rather it will be in the form of a draw. Number of full-time employees will be kept to a minimum, any increase in labour requirements will be fulfilled through contracting. 10% annual increase in cost of living allowance for the full-time employees. Managing Director- This full-time position will be held by Severina Saliva-Parayaoan. As owner compensation will be made in the form of a draw. Case Manager- this part-time position will be held by Arlyn Gardon. As owner compensation will be made in the form of a draw. Maintenance Manager- this part-time position will be held by Ben Dimaano. As owner compensation will be made in the form of a draw. Administrative Assistant (1)- this full time position is based on 40-hours per week reimbursed at $12.00 per hour, with benefits assume at 30% of total payroll. Skilled Nurse (1) this full-time position will be paid $22.00 per hour for direct service hours, with benefits assume at 30% of total payroll. Personal Support Workers (12)- This full-time position will be paid for $12.00 per hour for direct service hours, with cost of benefits assume at 30% of total payroll. Housekeepers (10)- This position will be paid for $10.25 per hour for direct service hours with cost of benefits assume at 30% of total payroll. Physical therapist/Occupational Therapist/Speech Therapist- these positions will be contracted at a rate of $30.00 per hours. There will be no benefits attached to these positions as they are contracted on a fee-for-service reimbursement only. Personnel Plan Year 1 Year 2 Year 3 Managing Director $ $ $ Case Manager $ $ $ Maintenance Manager Administrative Assistant $ 29,952 $ 32,947 $ 36,241.92 1-Skilled Nurse $ 54,912 $ 60,403 $ 66,443.52 12-Personal Support Worker $ 359,424 $ 395,366 $ 434,903.04 10-Housekeeper/Companion $ 255,840 $ 281,424 $ 309,566.40 Total People 23 23 23 Total Payroll $ 700,128 $ 770,164 $ 847,178 Personnel Summary Position Admin Assistant Skilled Nurse Personal Support Worker Housekeeper Qualification College Graduate At least one year experience Registered and license in Ontario At least 3 years of experience Certified in Ontario At least 2 years of experience Secondary School graduate At least one year of experience Type of employment Full time Full Time Full Time Full time Salary +Benefits $29,952 $54,912 $29,952 $21,320 No. of Positions 1 1 12 10 VIII. Start-up Capital Requirements The following is the summary of the start up costs which includes: Business Development Rental Expenses Office Equipment Nursing Supplies Start-up Capital Requirements Business Development Attorney Fees- Setting up a limited company $ 1,000.00 Business Licence $ 200.00 Medisoft Billing Program $ 5,000.00 Professional Liability Insurance $ 3,000.00 *Assuming 25% down of $12,000.00 Workmans Compensation Insurance Deposit $ 500.00 Premises and content Insurance Deposit