Sunday, 24 June 2012

Update

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A quick update, I have another site called HubPages I will be posting all of my writing on if your interested then click the following link:

http://esjae.hubpages.com/

This will accompany my other pages:

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- Esjae x

Wednesday, 20 June 2012

Business Notes: Key Term–Emerging Markets

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Emerging markets are an international area that has the potential to grow and develop in terms of productive capacity, market opportunities and competitive advantage.

- Esjae x


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Business Notes: Key Term–International Competitiveness

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International competitiveness is the ability of firms to sell their products successfully both abroad in export markets at home and in competition against imports.

- Esjae x


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Business Notes: Key Term–Globalisation

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Globalisation is the process enabling financial markets to operate internationally, largely as a result of deregulation and improved communications.

- Esjae x


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Business Notes: Key Term–Cyclical Unemployment

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Cyclical unemployment is unemployment resulting from an economic downturn or recession in the business cycle.

- Esjae x


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Business Notes: Key Term–Structural Unemployment

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Structural unemployment is long term unemployment resulting from change in demand, supply or technology in the economy, which produces a fundamental decline in an industry.

- Esjae x


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Business Notes: Key Term–Unemployment

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Unemployment is the number of jobless people who want to work, are available to work, and are actively seeking employment.

- Esjae x


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Business Notes: Key Term–Hyperinflation

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Hyperinflation is a situation where the value of money decreases so fast that people lose confidence in it.

- Esjae x


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Business Notes: Key Term–Inflationary Expectations

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Inflationary expectations are views about what will happen to the rate of inflation in the future.

- Esjae x


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Business Notes: Key Term–Demand-Pull Inflation

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Demand-pull inflation is the process by which prices rise because there is excess demand in the economy.

- Esjae x


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Business Notes: Key Term–Cost-Push Inflation

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Cost-push inflation occurs when there is an increase in the costs of production (including wages, raw materials, fuel, taxation, and interest rates) that forces firms to increase their prices in order to protect their profit margin.

- Esjae x


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Business Notes: Key Term–Deflation

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Deflation is a decrease in the general level of process within an economy or rise in the purchasing power in money.

- Esjae x


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Business Notes: Key Term–Inflation

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Inflation is an increase in the general level of process within an economy. Inflation also means that there is a fall in the purchasing power of money.

- Esjae x


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Business Notes: Key Term–Fixed Exchange Rates

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Fixed exchange rates are when the government decide to fix the value of its currency permanently in relation to other currencies.

- Esjae x


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Business Notes: Key Term–Flexible/ Freely Floating/ Fluctuating Exchange Rates

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Flexible/ Freely Floating/ Fluctuating Exchange Rates are the demand for, an the supply of, the currency which determine the exchange rate.

- Esjae x


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Business Notes: Key Term–Exchange Rate

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The exchange rate is the price for one country’s money in terms of another.

- Esjae x


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Business Notes: Key Term–Interest Rates

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Interest rates are the cost of borrowing money and the return for lending money. They also measure the opportunity cost, to both individuals and firms, of spending money rather than saving it and receiving interest.

- Esjae x


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Saturday, 16 June 2012

Business Notes: Key Term–Economic Growth

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Economic growth is an increase in the level of economic activity or real gross domestic product.

- Esjae x


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Business Notes: Key Term–Recovery

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The recovery is a period characterised by slowly rising levels of consumer demand, rising investment, patchy but increasing business confidence and falling levels of unemployment.

- Esjae x


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Business Notes: Key Term–Slump

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A slump is the period characterised by very low levels of consumer demand, investment, and business confidence, an increasing number of businesses failing and high levels of unemployment.

- Esjae x


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Business Notes: Key Term–Recession

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A recession is the period characterised by falling levels of consumer demand, output, profit and business confidence, little investment, spare capacity, and rising levels of unemployment.

- Esjae x


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Business Notes: Key Term–Boom

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The ‘boom’ is the period characterised by high levels of consumer demand, business confidence, profits and investments at the same time as rising costs, increasing process and full capacity.

- Esjae x


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Business Notes: Key Term–Business (or trade) cycle

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The business cycle is the regular pattern of ups and downs in demand and output within an economy, or of gross domestic product growth over time. It is characterised by four main phases: boom, recession (or downturn), slump and recovery (or upturn).

- Esjae x


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Business Notes: Key Term–Capital (or investment) Goods

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Capital goods are items that are purchased by firms because they help them to produce goods.

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Business Notes: Key Term–Stock

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Stock can be defined as the raw materials, components, work in progress or finished goods.

- Esjae x
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Business Notes: Key Term–Consumer Durables

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Consumer durables are goods that are owned by households, but which are not instantly consumed by them (e.g. cars, computers, televisions).

- Esjae x


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Business Notes: Key Term–Gross National Product (GNP)

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Gross national product is the total value of a country’s output over the course of a year plus net income from abroad. The growth in real GNP per head of population is the main measure of economic growth.

- Esjae x


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Business Notes: Key Term–Gross Domestic Produce (GDP)

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Gross domestic produce is the total value of a country’s output of the course of a year.

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Business Notes: Key Term–Microeconomics

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Microeconomics is the study of the individual parts of the economy.

- Esjae x


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Business Notes: Key Term–Macroeconomics

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Business Notes: Key Term–PESTLE Analysis

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PESTLE analysis is a framework for assessing the likely impact of the political, economic, social, technological, legal and environment factors in the external environment of a business.

- Esjae x


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Business Notes: Key Term–Stakeholder

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A stakeholder is an individual or group with a direct interest in the activities of an organisation.

- Esjae x


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Business Notes: Key Term–Corporate Objectives

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Corporate objectives are the targets that must be achieved in order to meet the stated aims of the business.

- Esjae x


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Business Notes: Key Term–Corporate Aims

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Corporate aims are the long term intentions of a business.

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Business Notes: Key Term–Mission Statement

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A mission statement is a qualitative statement of an organisation’s aims. It uses language intended to motivate employees and convince customers, suppliers and those outside the firm of its sincerity and commitment.

- Esjae x


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Friday, 15 June 2012

Business Notes: Kotter’s 8 Step Model for Change

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Step 1: Create Urgency

For change to happen, it helps if the whole company really wants to do it. Develop a sense of urgency around the need for change. This may help you spark the initial motivation to get things moving.

Step 2: Form a Powerful Coalition

Convince people that the change is necessary. This often takes strong leadership and visible support from key people within your organization. Managing change isn’t easy/

Step 3: Create the Vision For Change

When you first start thinking about change, there will probably be many great ideas and solutions floating around. Link these concepts to an overall vision that people can grasp easily and remember.

  • A clear vision can help everyone understand why you’re asking them to do something.

Step 4: Communicate the Vision

What you do with your vision after you create it will determine your success. Your message will probably have strong competition from other day to day communications within the company, so you need to communicate it frequently and powerfully, and embed it within everything that you do.

Don’t just call special meetings to communicate your vision. Instead, talk about it every chance you get. It’d also important to ‘walk the talk’. What you do is far more important – and believable – than what you say. Demonstrate the kind of behaviour that you want from others.

Step 5: Remove Obstacles

If you follow these steps and reach this point in the change process, you’ve been talking about your vision and building buy in from all levels of the organization. Hopefully, your staff wants to get busy and achieve the benefits that you’ve been promoting.

But is anyone resisting change? And are there processes or structures that are getting in its way?

Put in place the structure for change, and continually check for barriers to it. Removing obstacles can empower the people you need to execute your vision, and it can help the change move forward.

Step 6: Create Short Term Wins

Nothing motivates more than success. Give your company a taste of victory early in the change process.

You want each smaller target to be achievable, with little room for failure. What you can do:

  • Look for sure fire projects that you can implement without help from any strong critics of the change
  • Don’t choose early targets that are expensive. You want to be able to justify the investment in each project
  • Thoroughly analyze the potential pros and cons of your targets. If you don’t succeed with an early goal, it can hurt your entire change initiative.
  • Reward the people who help you meet the targets.

Step 7: Build on Change

Kotter argues that many change projects fail because victory is declared too early. Real change runs deep. Quick wins are only the beginning of what needs to be done to achieve long term change.

Launching one new product using a new system is great. But if you can launch 10 products, that means the new system is working. To reach the 10th success, you need to keep looking for improvements

Step 8: Anchor Changes in Corporate Culture

Finally, to make any change stick, it should become part of the core of your organization. Your corporate culture often determines what gets done, so the values behind your vision must show in day to day work.

Make continuous efforts to ensure that the change is seen in every aspect of your organization. This will help give that change a solid place in your organization’s culture.

- Esjae x


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Business Notes: The factors influencing the success of takeovers and mergers

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  • Knowledge of the target and the industry
  • Good co-operation from employees
  • If the culture of both businesses fit well together/ have the same attitudes

Extensive analysis of the takeover and market target

  • Analyse and evaluate the company itself and the market
  • Scientific approach
  • Customer base/ target market – different to present
  • Financial situation/ performance
  • Workforce skills, experience, industry relations
  • Value of assets eg. property

Due diligence – the process of looking at a business in great detail

Employee involvement

  • Involve employees in negotiations
  • Keep them informed
  • Communication about job security

External Factors

  • Recession
  • Economic climate

Financial strength, position – burden of the cost of purchase

  • High gearing ratio
  • Can the loan repayments be made

Clearly defined motives

  • What are the objectives
  • Does it fit in with the strategy
  • Is it a strategic fit?

- Esjae x


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Business Notes: Structuring the Section A Essay–PEE

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An effective essay builds an argument based around a series of coherent and linked paragraphs. But what should go into a good paragraph? How long should an effective paragraph be? That’s where the acronym comes in handy.

PEE stands for:

P = Paragraph make a point

E= Explanation

E = Evidence with examples

Let’s develop this a little further.

Paragraph Makes A Point

Well written paragraphs that focus only on the essay question set are the foundation of a good essay.

The golden rule for an effective paragraph is that is should seek to make one relevant point, to an appropriate depth.

A paragraph should not contain two or more main points. If you find yourself tempted to move onto another point mid-way through a paragraph you should resist. First, ask yourself whether you have achieved the right depth on your original point. If you haven’t – then develop that point further (finish the PEE). If you have, then leave three lines of space on the paper and then move onto the next point.

Why leave three lines of space between paragraphs?

  1. It provides enough space to add further explanation or evaluation to the point, if needed and if time permits towards the end of the exam.
  2. It gives a clear signal to the examiner that you have moved onto the next major point (paragraph)
  3. It is easier for an examiner to read an exam script if there is a little white space between paragraphs

Explanation

Explain your point.

Evidence with Examples

The content of your paragraph is the opportunity to demonstrate your knowledge and understanding of the business topic in the question. It is the chance to move onto strong analysis with some well written logical sentences.

A sentence that explains the importance of the topic or which reveals the issues raised is a great way to lead into further sentences where you can demonstrate your BUSS4 research, evidence of wider reading or understanding of how business works in real life (application). Ideally, every paragraph you write in BUSS4 essays should include some element of your own research as it builds credibility with the examiner.

A suitably brief explanation linking the point or issue to relevant business studies theory or model (keep it short) shows how you can apply theory to real world business contexts. Don’t go overboard here – you mustn’t repeat great chunks of your notes or textbook. Use theories and models to help frame the discussion.

Use your sentences in the middle of the paragraph to illustrate, where relevant, the processes if cause and effect. This demonstrates really good analysis. But remember to keep thinking about, and referring back to the essay question. Every word you write should be about answering the question.

Evaluation

Evaluation is the holy grail of business studies exams – and this has never been truer than in BUSS4.

How important is the point or the side of the argument that you have made? What does it depend on? Do the preceding paragraphs help build the strength of the argument? To what extent is the argument based on facts (e.g. relevant data) or opinion/ unreliable data.

- Esjae x


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Business Notes: Introduction To Writing An Essay In BUSS4

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An essay question invites build or develop an argument.

The essay title will invariably offer several different ways of approaching the question. But the most important thing to remember is to write an essay which directly addresses and answers the question.

A good essay is balanced. By that we mean that more than one point of view is explored, even if the essay ends with a conclusion that comes down firmly in favour of one particular side. Every argument should have at least two sides. So your essays should demonstrate to the examiner that you have considered both sides and the most important alternatives in sufficient depth.

That might sound a bit daunting. However, writing a balanced essay in an A2 business exam is, in fact, surprisingly easy. Why? Because there is no such thing as a correct or certain answer in business studies.

All business decisions and issues involve uncertainty. Ask ten experienced business people to come up with a solution to a business problem or to identify the best strategy. Chances are that they would each identify a different answer, or approach the problem in different ways. After all, ‘strategy is choice’.

Business strategy involves identifying,analysing and evaluation different options – all in the context of a rapidly changing external and competitive environment. By definition, it must be possible to consider at least two options, or alternative viewpoints. You can be sure that the BUSS4 essay questions (you have a choice) will be worded in such a way as to invite a fruitful discussion and argument.

A key part of writing a convincing essay in A2 business studies is to show the examiner that you appreciate and can articulate the uncertainties that confront business people everyday.

- Esjae x


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Wednesday, 13 June 2012

Poem: Do I Belong

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Look at me, look at me from behind
What do you find,
Your willing to say your opinions blunt
Look at me, look at me from the front
Your not afraid to confront,
Me, for who you think I should be
Why don't you try and get to know me
Instead of judging me on what you think you can see

You're older and therefore supposedly wiser
But I wouldn't want you as my advisor
Just because one of us carries a knife
It doesn't mean that it's my life
Just because someone fires a bullet from a gun
Doesn't mean that I do it for fun
 
Don't make me take a step back
Just because your opinions' are on the attack
Don't crush my positivity
Simply because you want to surround me in negativity

I'm not all that different from you
I have dreams just like you do
 
Why is it simply because of my age you think you can judge what I do
But why is it disrespectful when I do it to you

I have to earn your respect
Just like some kind of object
But I am told I just have to give it to you
Even though you judge every little thing that I do
 
How is that fair
But I'm not supposed to care
Because I'm just another teenager your allowed to judge
And I'm not meant to hold a grudge

How am I supposed to feel as though I belong
When I'm made to feel as though I've always done something wrong



- Esjae x

Saturday, 9 June 2012

Update: 1000 Youtube Views A Year On

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Great News! A year ago today I uploaded my first poetry video on youtube:


 
So far it's been an amazing journey learning how to write, read and perform poetry, a journey which has been made even more amazing by reaching 1000 views on youtube across all of my videos!
 
Thank you to everyone for their support.
 
- Esjae x

Friday, 8 June 2012

Sunday, 3 June 2012

Poem: Give Us A Break, You Get Me

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Last night was amazing I reached the final 12 in the Strawberry Slam Poetry Competition at Strawberry Fair and did my first live performance! I had such a great time and was really pleased with my score, congratulations to the two winners their poems were awesome.

Here is my poem, I merged two of my older poems together and changed them a little bit, It's called 'Give Us A Break, You Get Me'...


Teenagers, prejudice
Louts and layabouts
Times have changed
Communities rearranged
You took away the opportunities
And are now left with what you call teenage obscenities
Just like the guns and knives carried for pride
And like all the cars taken for a joyride

Looking around and all that you can see
Is the stereotype you think I should be
It doesn't mean that I'm the same
It doesn't mean that I'm too blame
Everyone focuses on the minority
Making it seem as thought they are the majority

We're people too
Just not as important as you
Apparently you're perfect
And we're the ones who are incorrect

All we need is one chance
So that out lives will advance
I shouldn't have to prove to you
That I'm just as much of a person as you

You've taken everything away
And now you've left us with the blame
Surely you can see that we're not all the same

Give us a break,
You get me
I'll post the video of my performance onto my youtube channel soon!
Let me know what you think of the poem.
- Esjae x