A Level Psychology Essay Example

A Level Psychology Essay Example A Level Psychology Essay A Level Psychology Essay One explanation that contemplating memory and association might be intriguing is on the grounds that the region was dismissed, up until the 1990s, when analysts got inspired by how an immensely significant however complex office works in individuals subsequent to being invigorated by the endeavors to give data about PC frameworks and how data is sorted out.( R.Gross, Hodder and Sloughton) One hypothesis comparable to memory recommends that association may happen at two separate phases of memory. Meyer said to recall is to have composed and recommended that association either happens at capacity or at recovery. Meyer recommended that at capacity association serves to decrease the measure of material to be recollected and does this by gathering it progressively or by lumping it (placing it into pieces to remember).At recovery he contended that sorted out things have more noteworthy uniqueness and subsequently more recovery courses assocciated with them.This proposes that association helps memory either by lessening the measure of data or by furnishing things with more motivation to be recalled.( Broadbent, D.E., Cooper, P.J. Broadbent) A key report into progression and memory was led by Collins and Quillian 1969 which proposed the various leveled organize model. This model was worried about how words are sorted out according to their semantic meanings.Semantic memory was depicted as a system of words which are associated with other when there is a semantic closeness. The importance of a word is supposed to be given by pointers which fundamentally point from the word out to the significance. For instance, Collins and Quillian recommended that pointers could demonstrate properties. For instance a canary would have pointers to can sing. Different pointers may highlight classifications that a specific word has a place with. So a canary would have pointers to flying creature (on a lower level) and to creature (on a more significant level). The model said that if an individual was given the sentence A canary can sing and was approached to choose whether it is valid or not they would just need to discover the word canary and recover properties put away with that word. To test this model Collins and Quillian did an examination where subjects were given sentences and were advised to judge whether valid or bogus by squeezing the right catch as speedy as possible.The length of response time showed the difficulty.They found that the time taken to conclude that an announcement was valid or not expanded as the quantity of levels the subject needed to experience to confirm it expanded. Along these lines it infers that semantic importance is put away in a chain of command to help memory as far as its organisation.(R.Gross, Hodder and Sloughton) In 1953 Bousfield directed an examination where he requested that subjects take in 60 words that got from 4 classes (creatures, names, callings and vegetables), which the members didn't know about. The classes had 15 models which were completely turned inside out so didn't appear to as of now be in a classification. Bousfield found that when members free reviewed they would in general normally group comparative things, for instance, in the event that somebody reviewed potato almost certainly, different vegetables followed. This infers despite the fact that members had not been recounted the classifications, they reviewed in groups thus subsequently proposed that they attempted to compose the information themselves thus demonstrates so as to recollect better the members sorted out the data.(R.Gross, Hodder and Sloughton) Bower,(1969) examined the impacts of chain of importance in review memory, and comparedâ the consequences of these with those utilizing word records in an irregular order.The progressive system gave a setting to the words to be recollected by and review was seen as up to multiple times better when word records were sorted out . The examination utilized a free gatherings plan, with two gatherings of members: a benchmark group and an exploratory gathering . The autonomous variable was a rundown of 112words: The benchmark group was given an unstructured, randomized rundown, while the exploratory gathering was given similar words composed into a hierarchicy. The review execution (DV) was estimated utilizing this scale (effectively reviewed word = 1, off base or no-reviewed word = 0). Thicket found that the disorderly rundown gave a review pace of 18% and particpants who utilized the sorted out rundown had a review pace of 65%. Recommending that association helps memory recall.(Bower, G.H., Clark, M.C., Lesgold, A.M. Winzenz, D) Aim: the point of this replication of Bowers (1969) study is to test his discoveries (65% review rate when given a sorted out rundown and 18% with and disorderly rundown) which will be directed as a little scope form of the first test. The test will be viewed as little scope as the quantity of words will be decreased to 40 contrasted with Bowers 112. The quantity of members might associate with 30 in this replication. The explanation that a little scope test is to be done is on the grounds that it is an open door test and is assessed that just around 30 understudies will be accessible inside a class. The trial intends to test the examination utilizing various words, nations, which are ordered into landmasses further catagorised into eastern and western pieces of the world though Bower utilized minerals, a harder point. Directional Hypothesis: The directional speculation which was picked was that partcipants will recall a more prominent number of words on the off chance that they are introduced in a sorted out manner as opposed to in the event that they are introduced in an arbitrary rundown (a composed rundown will be comprised of a heirarchy of words into sub classes and an irregular rundown will comprise of the considerable number of words stirred up in list group) . The rundowns will be partitioned into 4 classifications: Asia, Europe, South America and Africa. There will be 10 words in every class and will be arbitrarily stirred up by selecting them from a hat. The invalid speculation is whether the rundown is composed or not won't influence the quantity of words that the member recollects and any distinction is expected to chance. The picked theory is one followed and is utilized on the grounds that Bowers discoveries finished up it to be valid as there was a 65% review rate for sorted out records in contrast with simply 18% review rate for a disorderly rundown..

Education EEC403 - Designing Learning Assignment

Training EEC403 - Designing Learning - Assignment Example The qualities of the understudies must be thoroughly considered and executed into the structure, even such things which are not self-evident, similar to the use of innovation. As an online article called attention to, â€Å"If understudies convey PCs to class, does this influence how we prepare the rooms,† (Oblinger, 1991). The reverse is valid too, when taking a gander at how certain understudies demonstration and their learning propensities, one can seek the study halls for signs of how they framed. On the off chance that an understudy invests most of their energy in a study hall where they can't focus or work, they may build up the propensity for not accomplishing work or not thinking about the quest for information. Hence, homerooms are to a great extent answerable for the activities of understudies. In current society, innovation is getting incorporated into almost every part of life. Understudies, particularly, use innovation to finish homework and to speak with peers. I nstructors must figure out how to coordinate the gadgets understudies use to make a productive learning condition to which they can relate. By submitting to their necessities, they can find out more and hold more.

Kill and Odysseus Slaughters Bunches Essay

Mrs. Heimes English 9D 25 January 2013 Odysseus: Zero or Hero? Odysseus, spares residents, spares shipmates, is an unfeeling executioner and indiscriminate man. At the point when I consider Odysseus I think about a lawbreaker or a zero. Odysseus is a zero for three principle reasons 1. He is an executioner and doesn't secure his shipmates 2. He isn't a cooperative person and he isn't a pioneer 3. He continually shows he can not be trusted. â€Å"There will be slaughtering until the score is paid† is a statement from Odysseus in book 22. Everyone realizes that legends don't murder and Odysseus is no exemption. In book 22 Odysseus butchers lots of men since they sought after his better half Penelope. On page 960 the blue content understands Odysseus and his men are contrasted with hawks who demonstrate no leniency to the herds of feathered creatures they seek after and catch. These men were slaughtered awfully on the grounds that they sought after Odysseus spouse since Odysseus was away for a long time. When Odysseus’ men would go directly to Scylla Odysseus sat idle. â€Å"She ate them as they yelled there, in her nook, in the critical catch arriving at still for me†. While Odysseus’ could have cautioned them of Scylla Odysseus concludes that their lives are not significant. On account of Odysseus’ activities the entirety of his men kicked the bucket. Since the beginning of time it has been an all inclusive actuality that to be a saint you should be a cooperative person. At the point when Odysseus gets his shipmates murdered it is an ideal case of Odysseus not being a cooperative person. Odysseus is the main individual make due from his endeavor why since he didn't appropriately secure his shipmates. Let me read this statement â€Å"Driven by hunger they overlook Odysseus’ cautioning and eat Helios’ cattle†. Odysseus’ couldn't appropriately take care of his men and he was unable to control them. At the point when you take a gander at the cyclops cavern circumstance you understand that Odysseus isn't astute or savvy. One of Odysseus’ men state â€Å" Take the cheeses, get them stowed, return, opened up all the pens, and make a run for it†? While doing that was unmistakably a superior decision Odysseus’ won't and concludes that he needs to meet the cyclops. This is certifiably not a smart thought for some reasons the first is the thing that could or would the Cyclops accomplish for them. Each legend needs to show that they can be trusted and relied upon. While Odysseus made it back to his country he likewise got the entirety of his shipmates murdered. The passings of all of Odysseus’ shipmates originated from an issue from Odysseus. Odysseus alone survives† Page 937 blue content. Odysseus continually is unfaithful to his significant other yet following 20 years when his better half Penelope is searching for an admirer Odysseus slaughters the entirety of the admirers. At this time Odysseus gives me that he isn't just a wolf in sheep's clothing yet an executioner. As I state in this paper Odysseus is a zero and plainly not a saint. Things like being an executioner being dishonest and being a terrible pioneer don't mean Odysseus being a Hero. Things like sparing lives being dependable and a decent pioneer are things that do indicate being a legend and Odysseus is none of these.

Passenger Satisfaction Survey free essay sample

Information focus was arrangement at IRITM in 2008. IRITM has a Memorandum of Understanding (MoU) with IIM Lucknow, for composing Research Papers, Case Studies and absorbing exploration discoveries into far reaching intermittent reports to be utilized for improving preparing inputs. This is the fourth distribution of the Center. The previous 3 distributions :1. Thoughts on PPP, Dr. Kalpana Dube, Sr. Prof. (Blade. PPP), IRITM Ashish Shukla 2. A Handbook on Project Finance PPP Terminology, Dr. Kalpana Dube, Sr. Prof. (Blade. PPP), IRITM Ankit Tandon 3. Considering the Efficacy of an Airport Modernization Concession Agreement, Dr. Kalpana Dube, Sr. Prof. (Blade. PPP), IRITM The above distributions have been generally welcomed by the Railways as well as even outside in the Government, Private Sector and Educational Institutions. Indian Railways is the existence line of the country. It has been instrumental in realizing a social, social and financial transformation in our general public and has been a solid joining together and incorporating power. We will compose a custom exposition test on Traveler Satisfaction Survey or then again any comparable subject explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page Notwithstanding being an imposing business model in traveler administrations which are profoundly financed, would it be able to stand to have a disappointed client? To keep the country moving and the clients cheerful, our net social help commitments in 2010-11 comprised 17. 57% of complete consumption. Examination of productivity of Coaching Services demonstrated lost 21,324 crores to which net rural misfortunes in Chennai, Kolkatta and Mumbai contributed Rs. 2364 crores. Different elements have additionally quickened the circumstance which incorporate low below average common charges non rural workers and concession in admission stretched out to different classifications. No other vehicle division today is offering rates which could rival the Railways. Regardless of such an extensive amount exertion in the event that we are as yet incapable to keep our Customer fulfilled there positively is by all accounts some correspondence hole among us and the Customer. So as to asses that hole IRITM led a â€Å"Passenger Satisfaction Survey† on the Northern, North Central and North Eastern Railway, the aftereffect of which are summed up in the distribution. We trust the outcomes would permit us the Railway staff to introspect about our â€Å"Customer Demand† and start us to give a superior help and be progressively vocal in demonstrating our anxiety for keeping our Customer Happy. Ashima Singh Director IRITM Lucknow July 2012 FOREWORD Passenger Amenities and arrangement of certain fundamental just as attractive highlights on Railway stations just as ready train benefits consistently draw in the consideration of approach creators in the Railway Board just as the Field Officers during the Zones and Divisions. The ground level situation at significant stations in the nation varies as far as degree just as its apparent helpfulness by the Railway Passengers. The current review was intended to get an extensive input on 37 distinctive help parameters identified with traveler comforts and station offices. While the target evaluation fields were promptly reacted to by most travelers the open finished inquiries didn't evoke point by point answers and were cursory. The discernment hole between Passenger reactions and Railway Officers’ reactions likewise featured some intriguing contrasts. Light at Stations, Signage and Clarity of Train Announcements and Booking Counter experience have truly good reactions. The lack territories which were generally covered were neatness on stages and train toilets, late running of trains just as unapproved individuals in compartments. What must be stressed here is that none of these regions really require capital consumption or speculations or rehashed approach orders. They simply require vigilantism, dynamic management and better coordination among the specialist co-ops inside the different offices. A standard convention of upkeep, neatness and oversight works should be worked upon simply like the different assistance related parameters put in activity at the recently created and modernized air terminals. (If it's not too much trouble allude Annexure). This is a standard agenda of administration parameters demanded by Delhi International Airport Limited (DIAL). A comparative drill would go far in guaranteeing better administrations on our top notch stations particularly A1, and A classes. The booklet has been planned in such a way, that traveler reactions can be handily comprehended through utilization of bright illustrations and straightforward information introduction, anyway the bigger inquiry which should be tended to is that would we be able to give station and on board housekeeping administrations which are distinct advantages and way breaking simultaneously? Which mirror a change in perspective in the manner in which Passenger Services are customarily being offered by Indian Railways. Maybe the new Station Development Corporation declared as of late may acquaint major developments with drastically adjust the current arrangement of tending to Passenger Amenities and general comforts to be made accessible to the general population. The Station Development Corporation has been imagined with the essential goal of expanding and improving traveler related enhancements at stations. All the issues featured in the present study would maybe get tended to if optimizing the exercises of the Station Development organization can show noticeable early outcomes. The regions of activity being all around structured concourses, top of the line holding up spaces, simple access with handicapped cordial alternatives for station premises, blockage free stages, present day providing food offices and so forth. The Report has been made increasingly helpful by including altered variants of the far reaching, container India Passenger Service Surveys and Station Cleanliness Surveys led by the CAG (Railways) over the most recent couple of years. What's more, some extra writing and visuals of world class stations have been added to give a vibe of what the future may resemble in the days to seek Passenger Amenities and Services in Modernized Railway Stations. The Report has additionally been validated with distinguishing certain significant exhibition benchmarks, utilizing models from the Aviation Sector. Execution benchmarking and improving client discernment are significant achievements in improving station premises and traveler benefits past the traditional focuses to the following level. A level which is way breaking and cutting edge in its vision and usage. On the off chance that the agenda of the 37 parameters utilized in this examination just as the discoveries contained in the Audit Reports are perused and fathomed by the Railway officials liable for these capacities, the motivation behind the review would be satisfied. In any case, it might be valuable to repeat that station support strategies must follow the KISNE standard I. e. Keep It Smart Neat and Efficient. Additionally while we can't offer too much for our clients we should guarantee that what we do guarantee we convey consistently with 100% proficiency and Zero Failures. These are feasible in light of the fact that we have a long encounter of overseeing stations and methodology are all around spread out. What is maybe required is an entrenched drill of holding fast to a standard convention of Station and Train Maintenance Practices and not permit the drill to waver in any event, for a day. A very much idea methodology, accuracy in execution and applying Six Sigma standards for not going astray from the Standard Maintenance and Supervision Protocol would go far building up a New Order which is anything but difficult to duplicate and simple to follow. Dr. Kalpana Dube Senior Professor IRITM Lucknow July 2012 The more you connect with clients the more clear things become and the simpler it is to figure out what you ought to do. Goals of the Passenger Survey Criteria and Methodology Sample Size/Target Respondents Passenger Survey Findings Response by Railway Officers Suggestions for Proactive Action Comparison of General Public Railway Officers’ Response Perception Gap †Between the General Public as Rail Users and Railway Officers as Rail Users Graphical Representation of the Findings Strategy For Promoting Indian Railways Image And Train Travel Experience Some Suggestions Benchmarking Performance Assessment Measures Sub Report One: Sample Service Quality Specifications For Delhi International Airport Ltd. DIAL) Conceptual Background for Railway Stations as Profit Investment Centers Sub Report Two: CAG Recommendations on Passenger Services in Indian Railways 2008-09 Sub Report Three: CAG Recommendations on Cleanliness and Sanitation on Indian Railways 2007-08 Annexure 1: Citizen Charter on Passenger Services of Indian Railways Annexure 2: Questionnaire Used for the Passenger Satisfaction Survey f or IR Performance Service Standards Page No Traveler Satisfaction Survey Report and Benchmarking of Performance Standards Objectives of the Passenger Survey †¢ To audit the offices gave to the travelers directly from ticket booking to the on-board travel involvement with the trains To asses if offices gave in trains were sufficient and adequately kept up or not, from the purpose of Passenger Satisfaction in Station Maintenance Practices. To know the need zones so that these can be reinforced to advance traveler fulfillment. To asses the general travel understanding of the travelers in the Indian Railways and their impression of the association. †¢ Criteria and Methodology An open finished poll with around 37 parameters was arranged and study was directed with the assistance of three field administrators gave by the Indian Institute of Management (IIM) Lucknow. The overview was led over a time of ten days through direct contact and topping off of the poll by ready travelers of all the Travel Classes (AC, second Sleeper). The courses distinguished for the study were chiefly on the Northern piece of the nation Lucknow New Delhi Lu

Impact of Wikileaks on the Global Political and Economic Landscape Essay Example for Free

Effect of Wikileaks on the Global Political and Economic Landscape Essay Presentation WikiLeaks site has changed the calling of news coverage in the United States and the media point of view with its stream in the data society. The site is a stage that exposes all the debasement exercises going on in the administration workplaces. Of the considerable number of media stages WikiLeaks is the most well known for the news reports on political issues occurring in the states and around the world. Wilileaks has added to a few media clashes particularly between the United States and different countries and that is the reason the administration doesn't bolster its exercises by any means. In my exposition, I will investigate the different manners by which WikiLeaks has exposed a few crook and defilement exercises going on in the nation. Albeit a portion of its news are somewhat trading off to the security and pride of the country the stage has offered light to the individuals of the United States of America. Wikileaks is a non-productive and non-business web stage that was presented in 2006 by Julia Assage. It depends on online gift for all its working and financing. Its primary design is to transfer reports that help uncover the administration and corporate establishments to the general population. These records are transferred secretly by utilizing an online accommodation structure. The significance of this stage is that it can possibly make known the size of ruthlessness and savagery particularly in the military government assistance. Political genuineness is an excellence that each U S government official should practice and with the assistance of Wikileaks they have no alternative yet watch it. As it were, a columnist stage guard dog makes mysteries straightforward to all and particularly those including the general population. Most media association has attempted to see bunches like WikiLeaks in a few measurements with a large portion of them thinking about its solid activities as one of the online activism and the effects of its activities. It is critical to initially take note of the connection between the two gatherings, media and government. In many frequencies the media consistently is by all accounts clashing with the legislature over issues in regards to the individuals. Stages like WikiLeaks are extraordinary danger to the state government particularly in issues of debasement and law (Shirky, 2011, p.41). Through their online activism, Anonymous and WikiLeaks bunches have their capacity to â€Å"unmask† power structures like the degenerate police divisions in the US, and all the Armison mercilessness exercises. While WikiLeaks has picked up distinction as a whistle blowing site since its presentation in 2006, its notoriety expanded when it discharged the supposed Iraq and Afghanistan war archive in 2010. This archive contained urgent and significant data about the occasions that occurred and the individuals and countries answerable for the war. The United States government was not content with the arrival of these records as they presented extraordinary threat of dread assaults by either Iraq or Afghanistan. These two nations are known for their savage psychological oppression exercises and meddling with them would resemble inciting them. The arrival of these reports realized various inquiries concerning the legitimate ramifications of news coverage opportunity with top government authorities asserting that an excessive amount of opportunity will prompt abuse of data or distortion of some critical and touchy data (Springer, 2014, p.411).Actions of WikiLeaks have influenced the media stage in different solid manners. Any semblance of Tambini and Lynch have attempted to explore the ramifications of WikiLeaks work and the measures to control the oversight of related locales particularly in the UK and US. They contend that whistle blowing associations ought to be granted insurance under the law on their capacity to â€Å"self-regulate† and â€Å"develop† moral standards to oversee their opportunity of production and choices they make on their work. The stage represents an extraordinary risk to the legislature and lawmakers and there are fears that whenever permitted to proceed with its exercises it will make a ton of mischief the U S government by uncovering delicate government privileged insights to the world. Different countries likewise feel that WikiLeaks ought to be confined on certain distributions since a portion of the data it uncovered may cause a great deal of rubbing particularly between countries. The progression of WikiLeaks since its foundation up to the production of the Iraq and Afghanistan record was set apart by a level of media interest, which made it increase a great deal of distinction contrasted with other media stages. This represented an extraordinary risk to the media characters who felt that WikiLeaks was picking up acclaim as time passes making their work hard to claim their crowd. Its turnaround second came in 2010 and proceeded to 2011 when the association delivered a great deal of materials and archives in regards to the Iraq war, the Collateral Murder Video and the political link. There have been a few endeavors by media associations to look down on the job of refers to like WikiLeaks and deny them the opportunity to post classified reports despite the fact that these endeavors have not succeeded on the grounds that the stage is under the media authority which ensures every one of its exercises. It likewise depicts itself as a guard dog for the individuals â€Å"we accept that it isn't just the individuals of the United States who should keep their administration genuine yet additionally individuals from other countries† and that is the reason different nations are likewise restricting Wikileaks exercises. (Pozen, 2013, p.635). We can say that wikiLeaks has assumed an extraordinary job in guaranteeing that congress doesn't manhandle the forces allowed to it and its individuals. He makes data about associations that misuse powers conceded to them accessible to people in general thus they know about what their pioneers do this makes chiefs exceptionally enthusiastic about what they do. Unknown accommodation of examined reports about the different exercises going on in open workplaces and associations are introduced on the WikiLeaks site empowering a great many watchers to know about what's going on behind the drapes of intensity. The contrast among WikiLeaks and different locales like Wikipedia is that it connects for the most part in the political battles. The utilization of media has become a pattern in the United States making the last straightforward and uncovering the individuals who attempt to manhandle office powers conceded to them. Today we experience a daily reality such that innovation is the primary perspective to forming the lives of numerous individuals. The web is presently being utilized as an eye of capacity to handle different parts of violations performed by pioneers particularly in underdeveloped nations (Coleman, 2014, p.406). In view of different parts of convention we can characterize power as the â€Å"disposition over the methods required to impact different procedures and choices in our day by day lives.† this implies the ability to control a few issues like political impacts and appropriation of assets can be dispersed in a progressively deliberate manner. Popular government is the best way to guarantee there is equivalent dissemination and exercise of both political and social forces. Associations like WikiLeaks exist since we live in a time where political and social forces are not practiced reasonably true to form. Any administration that practices its forces true to form ought not have any stresses over associations set to filter their exercises. They ought to rather be supporting such gatherings with the goal that they can show their great work on these locales. The United States government profoundly contradicts such associations like Wikileaks in light of the fact that they are anxious about the possibility that that their messy materials will be presented to general society. Investigation shows that the most significant component of WikiLeaks is to make the Obama government practice straightforwardness in their works and workplaces, set up a progressively straightforward, and open government. The stage characterizes itself as a liberal undertaking that ensures the privileges of the United States individuals particularly the right to speak freely of discourse since it reinforces vote based system by uncovering government debasement. He puts his accentuation on archiving government and corporate untrustworthiness and maltreatment of forces. This shows the overall population that the degenerate government is the principle issue in the world’s economy and is hauling improvement behind. Rather than improving the occupation of their countries government officials are caught up with connecting with themselves stealing assets and assets intended to improve the advancement of their residents. There has been a developing body outfitted at looking for a system to analyze crafted by WikiLeaks and its effect on the present circumstance in the U S. The far reaching utilization of innovation has made his work an achievement in different manners and has carried an incredible effect on the world’s economy. Following the distribution of the Iraq records the United States government intensely censured WikiLeaks work. The administration asserted that these reports were an extraordinary danger to the security of their nation and could put the residents at a high danger of dread assaults by the Afghanistan government (Springer, 2014, p.411). Reality with regards to the WikiLeaks archives is that they got the potential and capacity to make noticeable the measure of mercilessness and viciousness particularly in military frightfulness clashes during their exercises since some utilization a great deal of ruthlessness regarding their matters. The site is political based since the greater part of its news originate from the political field, albeit many view it as a risk to administering gatherings and they consider it to be an adversary. Rather censuring such refers to we should base our endeavors in observing the administration offered by our political pioneers. We ought to ask ourselves are our political pioneers fulfilling every one of our needs and desires. Do they exploit the forces allowed to them to manhandle office? Indeed, we ought to guarantee that we catch each action they embrace so we can make certain of what they do with our cash. They ought to know that people in general is viewing all their ms

Whats the Difference Between Exempt and Non-Exempt Workers

What’s the Difference Between Exempt and Non-Exempt Workers There are a number of terms in the employment world you must learn to understand in order to navigate in it.If you want to offer the best deals to your employees or you want to sign a good employment contract that doesn’t include surprises, one of the most crucial terms to understand are the concepts of exempt and non-exempt workers. The terms are only separated by a prefix but it could mean a big difference in what you take home from the work you do. So, let’s look at what exempt and non-exempt employees are all about and what the difference means to you and your employment contract. IT ALL BOILS DOWN TO OVERTIMEBefore examining the concept in more detail, the most crucial thing to understand about the two concepts is their difference in overtime payments. The most significant variation is that as an exempt worker, you won’t be entitled to receive paid overtime â€" hence the name. If you are a non-exempt worker, then you will be entitled to normal paid overtime.The details of the paid overtime will naturally depend on your country and state legislation. Who determines whether you are an exempt or non-exempt worker will also depend on the legislation. As you’ll see later, there are restrictions on who receives paid overtime and who doesn’t.So let’s examine the concepts closer to understand what the diff erences are.EXEMPT EMPLOYEESLet’s start with exempt employees because they are the workers who are exempt from overtime payment. If an employee is deemed exempt, the employer won’t be required to pay them overtime. It will essentially be the employer’s discretion whether they pay for overtime hours or not. Therefore, exempt workers might receive overtime payments; they just aren’t legally qualified to receive them automatically.In some situations, employers might choose to provide other benefits to the employee. These could be extra perks like better healthcare options, free lunches, ability to work from home and so on.Aside from being exempt from overtime payments and regulations, exempt employees are often also not entitled to the minimum wage. This is because exempt employees are paid a salary rather than an hourly wage â€" instead of the contract outlining that you need to work an X amount of hours and you’ll receive $10 an hour, the exempt worker’s contract will sta te the hours or tasks part of the job and the monthly salary â€"$2,500/month, for example.When determining whether an employee is exempt or not there are three conditions that must be met. If these three conditions are met, then the employee can be classed as exempt and not receive minimum wage or overtime pay.Job dutiesSalary levelSalary basisThe jobs typically part of the exempt group are known as the ‘white collar exemptions’. This term refers to job groups that perform tasks as:Executives â€" Typically any employee that supervises two or more employees and who has the power to hire, fire or assign work tasks.Administrators â€" The most common examples of exempt administrative workers include operational staff such as HR, accounting and marketing professionals.Professionals â€" These are employees who engage in intense intellectual work and include job titles such as art and creative professions, as well lawyers, engineers and computer professionals.There are further job duty qualifications to determine whether the employee is exempt or not. For example, if you are an administrator but you only manage two independent contractors, you wouldn’t qualify. These detailed job duties can be found from the Fair Labor Standards Act (FLSA). Some other examples include the movie theatre and recreational park employees, airline personnel and seamen, for instance.The second qualifying factor deals with the salary. An exempt employee must receive a fixed salary. A fixed salary would mean the salary couldn’t reduce depending on the quality or quantity of the work the person performs. So, regardless of the number of days or hours the person works, the salary must remain constant â€" with a few exceptions.Finally, the exempt employee must receive a salary beyond a certain minimum threshold. Currently, the FLSA rules state the employee must make at least $23,660 a year or $455 a week in order to meet this threshold. There was a proposal to raise this to $47,476 a yea r but that ruling is currently pending.So, if the above three conditions are met, the worker will be considered as exempt. If one or all of the conditions are not met, the person will be classified as non-exempt. It’s important to understand that employers must have a logical and legal argument, based on the above points, in order to classify a worker exempt.NON-EXEMPT EMPLOYEESWhat about the non-exempt employees? What kinds of conditions determine their status? As a non-exempt employee, the person must receive at least the minimum wage for all the hours he or she works â€" including overtime pay for excess hours. While exempt workers need to meet certain conditions, non-exempt employees are generally all the workers who don’t meet those conditions. In the US, the minimum federal salary is currently $7.25, with some states having a higher minimum salary set.Although non-exempt employees generally receive hourly pay, the employers can choose to pay a salary instead. However, unli ke the exempt workers, the non-exempt will also receive an applicable payment for any overtime they work. In practice, anyone receiving an hourly pay will always be classified as non-exempt.Non-exempt workers are often more under scrutiny in terms of the tasks they perform during the workday. Since you are paid by the hour, you are expected to work during those hours and not have conversations with your colleagues around the water cooler. If you are constantly pushing yourself to overtime, the employer might start wondering what you are doing â€" they will have certain expectations in terms of what you can achieve during the normal work hours.The overtime must be paid according to the law. Under current US federal law, the non-exempt employee who works over 40 hours in a workweek, must receive 1.5 times his or her regular rate of pay for the overtime hours. So, if a non-exempt worker works for 50 hours a week, they will receive a normal rate of pay for the 40 hours and 1.5 times the normal rate for the extra 10 hours.Furthermore, non-exempt workers can have better protection from national and local laws. In the US, the Department of Labor’s Federal Minimum Wage and Agricultural Employment law specifically targets non-exempt employees. For the employers, the non-exempt status often means stricter recordkeeping requirements â€" this is specifically in terms of the work hour records of the employee.WHAT DOES THAT MEAN TO YOU?In fact, what does this mean to employees and employers?The employee â€" what’s the deal?As an employee, if you are exempt, you will be expected to perform the duties listed in your contract whether or not your job takes 35 or 55 hours. You can’t expect to be paid extra â€" you will receive a pre-determined salary and any additional benefits the employer provides, but you won’t legally be entitled to overtime pay. As mentioned above, your employer might provide it but it is at the company’s discretion, not mandated by the law.This m eans you’re expected to perform your duties as mentioned in your job contract and you’ll receive the salary you’ve agreed in the contract. If your duties require more work than the hours agreed on your contract, you can’t expect any extra pay.On the other hand, as a non-exempt worker, you will be paid at least the minimum hourly rate â€" or any other hourly rate you’ve agreed in the contract â€"and a different rate for any overtime you do. If it takes you longer to perform the required tasks, then the employer will have to pay you for those extra hours you work. You might be paid a salary or receive your pay based on the hourly rate â€" naturally, the employer can provide any other extra benefits they want.Generally, exempt workers receive a higher salary on average, which might make you want to pursue exempt status. This is because there is an expectation that you’ll perform your duties whether or not it pays extra and therefore, the employer is prepared to pay more upf ront.However, whether the non-exempt or exempt status is the right for you, is really down to personal preference and your current situation. As you could see from the different conditions associated with exempt status it might not always be even up to you or the employer â€" law is the law. It is, of course, helpful to understand the employment laws before you sign the contract.In terms of unemployment benefits, you are generally entitled to the same payments whether you’ve been an exempt or non-exempt employee.The employer â€" what’s the deal?For the employer, the difference is more evident in terms of the rights of the employee. As mentioned above, the non-exempt workers might have better protection under the law and the record-keeping responsibilities are often more rigorous.For example, an employer doesn’t have to keep an official record of the hours an exempt worker works. Of course, the minimum wage is something the employer has to account for in the case of non-exempt workers. With exempt workers, the salary can be set according to industry standards and the employer’s wishes and capabilities.However, it must be noted there are general health and safety laws that naturally apply to all workers in the workplace. Furthermore, laws such as equal employment and child labor laws are in place whether you are a non-exempt or an exempt worker.Since employers have to pay more for non-exempt workers in terms of overtime (remember the salary for these hours has to be 1.5x the normal rate), it helps them to try to avoid overtime. On the other hand, in terms of exempt employees, the employer always knows how much they have to pay each month â€" the salary can’t go up even if the employee has to stay for longer hours.THE BOTTOM LINEThe difference between exempt and non-exempt workers is essentially down to the level of responsibility in the particular job. It’s also often an indication of the person’s status as a professional. It most clearly shows in the payment and especially in the overtime payment structure. While exempt workers are not qualified for overtime payments, it doesn’t really mean their salaries are worse â€" in fact, it is often the opposite.Since the conditions to qualify as an exempt worker are signed into law, as an employer or an employee you won’t have much say over what your status will be. Nonetheless, these concepts are important to know when it comes to understanding your employee contract.

The financial management policies of Sainsburys - Free Essay Example

Report to critically evaluate the Financial Management policies and practices of J Sainsbury plc over the last five years. including gearing dividend decisions, investment performance appraisal and cost of capital subjects. J. Sainsbury plc was established in 1869 by John James and Mary Ann Sainsbury. It is established as Britainà ¢Ã¢â€š ¬Ã¢â€ž ¢s oldest food retailer. It comprises two divisions à ¢Ã¢â€š ¬Ã¢â‚¬Å" Retailing, by way of its supermarkets and smaller convenience stores, together with its financial services, Sainsburyà ¢Ã¢â€š ¬Ã¢â€ž ¢s Bank. It aims to provide high quality products, at good value with an excellent standard of service. It is the third largest grocery chain in the UK behind Tesco and Asda/Wal-Mart. [1] The J. Sainsburys food retail area serves over 16 million customers a week by way of a total 788 stores and an internet-based home delivery service. The financial services area of Sainsburys Bank, offers a variety of packages including life insurance, saver accounts, credit cards and travel insurance to name a few. In October 2004 the supermarket giant was suffering the consequences of the increasing success of its competitors and it responded by announcing a dramatic recovery plan which would serve to lead it out of the spiraling losses the company was experiencing. Still reeling from the impact of late 1990à ¢Ã¢â€š ¬Ã¢â€ž ¢s BSE financial implications where the stores lost out over two million on fresh beef alone.[2] The Making Sainsburyà ¢Ã¢â€š ¬Ã¢â€ž ¢s Great Again strategy served to increase their overall profits by over 200 million before tax in just over one year.[3] Before floundering again two years later under speculation of an impending takeover. A fiscal breakdown of the procedures between 2003 and 2008 demonstrates the financial narrative of a company experiencing highs and lows in a competitive environment, maintaining its significant profile and diversifying its options. 2003-2005 Following on from 2002 and a year in which sales growth increased profits and encouraged the operational gearing, Sainsbury Shareholdersà ¢Ã¢â€š ¬Ã¢â€ž ¢ funds increased by  £155 million to  £5,003 million, with net debt increasing by  £248million. Public confidence had been gained but severe losses were still being documented. The company also found themselves having to increase their borrowing and extended their loans by an additional three and a half years. The overall Group gearing, or Net debt divided by total equity, rose to 28% with group capital rising from 11.1 % to 11.5%. This will no doubt be a reflection of the number of investments that the Sainsburyà ¢Ã¢â€š ¬Ã¢â€ž ¢s group made during this year.[4] The company Directors recommended the payment of a final dividend of 11.36 pence per share, at an increase of 0.54 pence from 2002 and a total dividend for the year ending 2003 of 15.58 pence per share, complimenting the increase in the number of shareholders that year. This total also reflected the companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s aim to encourage profit growth in 2004. In terms of the groups investments during these two years the one million pound investment it had made in the Homebase stores was sold. The final disposal of this investment made the company a total profit of around  £61 million, after taking into account any liabilities following the sale of the partner business in 2001which boosted the profits for the group noticeably in 2003.[5] The figures below illustrate the differences in terms of the increased investments and total debt that the company experienced over one year.[6] 2003 2002 Cash and current asset investments 659 386 Debt (2,063) (1,542) Fixed asset investments Group Company 2003 2002 2003 2002 Shares in group undertakings (note 16) à ¢Ã¢â€š ¬Ã¢â‚¬Å" à ¢Ã¢â€š ¬Ã¢â‚¬Å" 7,661 6,227 Joint ventures (note 17) 9 44 6 33 Own shares at cost1 86 88 à ¢Ã¢â€š ¬Ã¢â‚¬Å" à ¢Ã¢â€š ¬Ã¢â‚¬Å" Other unlisted investments at cost 17 42 à ¢Ã¢â€š ¬Ã¢â‚¬Å" 25 By the end of 2003 Sainsburyà ¢Ã¢â€š ¬Ã¢â€ž ¢s were in trouble and fighting to maintain their positioning amongst the other major chains. In July 2003 Asda gained 17% of the market share. Sainsburyà ¢Ã¢â€š ¬Ã¢â€ž ¢s slipped from a position of 17.1% of the market share to just 16.2%. Following the merger with Wal-Mart, Asda proceeded to overtake Sainsburyà ¢Ã¢â€š ¬Ã¢â€ž ¢s as the second largest supermarket in the UK. [7] In 2004 it was determined that an increase in profits was needed urgently through sales and it was agreed that in order to meet these targets group managers would be provided with financial incentives. Consequently a share incentive scheme was initiated for all senior managers within Sainsburyà ¢Ã¢â€š ¬Ã¢â€ž ¢s plc. Performance of these managers would be assessed over a period of four years and only when all targets had been met would the scheme be awarded.[8] Although the scheme encouraged increased and improved working practice it did look to the media like the Sainsburyà ¢Ã¢â€š ¬Ã¢â€ž ¢s group were floundering, with a public announcement that acknowledged the weaknesses that existed within the company. What followed was a continued drive to invest and increase performance. Their 2 005 annual report stresses the importance attached to investment with the creation of a specialist web site designed to provide information on current investors in addition to attracting new ones.[9] This 2005 report also outlines the Performance indicators for 2004 and 2005 for Sainsburyà ¢Ã¢â€š ¬Ã¢â€ž ¢s initiatives nationwide. In terms of offering new provision to its customers as part of the ongoing attempts to raise their profile the group launched its Wheel of Health campaign to encourage shoppers to think about the healthier options where eating is concerned and an astonishing 250,000 children took part in their Taste of Success initiative. This programme had the aim of assisting young people in a bid to encourage learning about food and nutrition. Running in partnership with the British Nutrition Foundation and the Design Technology Association, curriculum courses around food technology were built into the scheme which hosted food awards and awareness training for teach ers across the UK. Efforts were made to engage more with the community and align the company to the needs of assisting with regeneration across the country. It was an excellent attempt at active inclusivity and would have served to improve their image at the time significantly. Local Heroes awards were given to colleagues who demonstrated acts of courage, assistance or excellence within their communities, participating once again in the Investors in People scheme and reaching out to their own staff for their knowledge input and consultation around the way in which the business operates overall. Sainsburyà ¢Ã¢â€š ¬Ã¢â€ž ¢s also became heavily involved with Comic Relief activities, raising seven million pounds throughout its stores for the charity and developing a vouchers for school campaign to support schools buying sports equipment. It seems that Sainsburyà ¢Ã¢â€š ¬Ã¢â€ž ¢s had a stake in everything in 2005 and was actively playing its part for the environment by reducin g packaging significantly, reducing its CO2 emissions and introducing biodegradable methods for its waste produce. During this year the company headed up the Dow Jones Sustainability Indices and proved themselves to be the only retailer in the UK to appear in the Global 100 list of sustainable corporations. In 2005 they also took the award for Organic Supermarket of the Year.[10] Looking at the overall Capital between 2003 and 2005 the company argued that capital was in decline in 2003 due to the fact that the Easter holidays were much earlier than usual and a significant amount of new lines were being introduced. [11] Group capital expenditure for the year amounted to 1,197 million, compared to 1,159 million the previous year. This increase can also be attributed to the variety of new business transformation concepts. Essentially higher levels of spending had been necessary to adopt innovative activities for all stores to participate in across the UK. During this year Sain sburyà ¢Ã¢â€š ¬Ã¢â€ž ¢s bought up a number of additional retail units acquired from the newly liquidated Ames Department stores. These needed financial support over the next couple of years in terms of refurbishment and conversion into new Sainsburyà ¢Ã¢â€š ¬Ã¢â€ž ¢s supermarket stores. By 2004 capital expenditure was reducing and the company was seeing the signs of improved cash flow, additionally supported by lower dividend payments.[12]. In 2004/05 Capital expenditure dropped to around  £500 million. Throughout 2004/05 Sainsburyà ¢Ã¢â€š ¬Ã¢â€ž ¢s integrated an energy savings programme across all of its stores and offices with a spend of over  £14million working in partnership with npower[13] 2006 to 2008 By 2006 Sainsburyà ¢Ã¢â€š ¬Ã¢â€ž ¢s recovery plan was beginning to demonstrate a real difference. In 2005 it had set itself a target of  £2.5 billion in sales over a three year period. There were vast improvements in the retail operating profit m argins, demonstrable by a 14.3% operating profit growth recorded for 2005/06. By 2006 they were over half way to achieving their  £2.5 billion sales target. Their operational gearing had improved and risen considerably. During November 2006 Citigroup were predicting an increase of 64% in their overall profits before tax to reach  £193 million. Shares in Sainsburyà ¢Ã¢â€š ¬Ã¢â€ž ¢s also rose to all time high in eight years, to a staggering 420p.[14] This overwhelming continued improvement in operational gearing can be attributed to greater sales and a reduction in costs. For example the group managed to make significant savings in labour and IT during this period.[15] This resulted in their ability to demonstrate higher investment in the overall quality of price and product. Between 2005 and 2006 a final dividend of 5.85p per share was announced. By 2007 a final dividend of 7.35 pence per share was proposed. [16]Once again illustrating the continued economic stre ngth of the company over a comparative short space of time. The table below illustrates the comparative performance indicators for Sainsburyà ¢Ã¢â€š ¬Ã¢â€ž ¢s between 2005 and 2006[17] Continuing operations 2006 2005 Sales (inc VAT)  £17,317m  £16,364m Sales (ex VAT)  £16,061m  £15,202m Underlying operating profit  £342m  £325m Underlying profit before tax  £267m  £238m Profit/(loss) before tax  £104m  £(238)m Profit/(loss) after tax  £58m  £(187)m Underlying earnings per share 10.50p 8.30p Basic earnings/(losses) per share 3.80p (17.40p) Proposed dividend per share 8.00p 7.80p What is immediately obvious here are the increased levels of profit and the tremendous rise in value against Sainsburyà ¢Ã¢â€š ¬Ã¢â€ž ¢s shares. As mentioned previously the new stores made a tremendous contribution to the noticeable growth in sales, including the introduction of 14 new supermarkets and 20 new metro convenience stores. In 2006 The Sainsburyà ¢Ã¢â€š ¬Ã¢â€ž ¢s Group made other investments by way of completing nine extensions, 28 refurbishments, with a total 94 refurbishments and conversions of its convenience stores overall[18]. By 2005/06 the effects of their Making Sainsburyà ¢Ã¢â€š ¬Ã¢â€ž ¢s Great strategy were becoming very apparent. Around this time the retail industry were however experiencing the negative effects of financial increases across the UK placed upon rent, rates and wages. In addition many energy supply companies were gradually introducing their higher costs and Sainsburyà ¢Ã¢â€š ¬Ã¢â€ž ¢s estimated their energy expenses to total around Ã⠀šÃ‚ £55 million by the end of 2007.[19] In 2005 Sainsburyà ¢Ã¢â€š ¬Ã¢â€ž ¢s owned 455 supermarkets. In 2006 they had targeted and additional 131 stores to invest in and refurbished 37 of these by March. They extended ten stores and acquired nine disbanded Safeway stores from Morrisonà ¢Ã¢â€š ¬Ã¢â€ž ¢s in this same year. These ex-Morrisonà ¢Ã¢â€š ¬Ã¢â€ž ¢s stores provided Sainsburyà ¢Ã¢â€š ¬Ã¢â€ž ¢s with around a 20% increase in overall sales. This demonstrates their ability to penetrate new locations successfully. During 2006 the group also embarked on an enhancement programme for their online home delivery service. As a consequence they received a sales increase of over 25% from this market.[20] 2005 witnessed another significant move by Sainsburyà ¢Ã¢â€š ¬Ã¢â€ž ¢s to assist with their recovery programme, when they decided to terminate their IT outsourced contract with company Accenture. In 2000 Sainsburyà ¢Ã¢â€š ¬Ã¢â€ž ¢s had signed a contract worth over  £1 .7 billion, scheduled to continue for seven years. In 2003 this was reviewed and extended to 2010. In the meantime Sainsburyà ¢Ã¢â€š ¬Ã¢â€ž ¢s decided to invest in its own IT systems and made the move towards developing their own in-house systems. This decision also followed in the wake of the Accenture infrastructures failing to adequately support the needs of the company and costing Sainsburyà ¢Ã¢â€š ¬Ã¢â€ž ¢s at one point  £500 million in supply chain and IT assets. At the time Chief Executive Justin King responded publically that à ¢Ã¢â€š ¬Ã‹Å"The IT cost is a greater proportion of sales than they were three years agoà ¢Ã¢â€š ¬Ã¢â€ž ¢. [21] Dropping the contract and focusing on an in-house infrastructure in 2005 enabled Sainsburyà ¢Ã¢â€š ¬Ã¢â€ž ¢s to recoup some of ità ¢Ã¢â€š ¬Ã¢â€ž ¢s losses and the drain in spend that Accenture were taking from the company each year Capital expenditure reduced in 2006 to  £525 million, a sharp decrease from the pre vious financial year where capital expenditure had reached a staggering  £901 million. This can however largely be accounted for as the increase had included Sainsburyà ¢Ã¢â€š ¬Ã¢â€ž ¢s new investments in the ex-Morrisonà ¢Ã¢â€š ¬Ã¢â€ž ¢s stores and the balance of this was significantly outweighed by the resulting increase in sales.[22] 2007 witnessed another sharp increase in capital by  £212 million on the previous year and can mostly be attributed to the cost of refurbishment and extensions to existing stores.[23] Throughout 2006 and 2007 Sainsburyà ¢Ã¢â€š ¬Ã¢â€ž ¢s had begun talks with the Qatari based investment fund, Delta Two, with regard to a possible takeover and a proposed bid amounting to  £10.6 billion. The bid was quashed finally at the end of 2007; as a result of the effects of the global credit crunch, but not without its consequences. The public and investors had panicked and lost confidence in the Sainsbury group and share prices plumme ted by 20%, impacting on the companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s overall market value which reduced by  £1.8 billion.[24] Delta Two remain in possession of 25% ownership of the group (the Sainsbury family hold 18%) and would be at liberty to present a new offer in light of the fact that six months have elapsed since their last bid failed. It is unlikely to consider a new takeover bid, in terms of the Sainsbury group refusing to back down against their offer and the Qatarià ¢Ã¢â€š ¬Ã¢â€ž ¢s inability to negotiate, but the likelihood of some future takeover is not completely improbable, considering this particular deal became so near to closure and received such immense media attention. Brian Revell of Unite, which is Britains largest union consisting of 20,000 members at Sainsburys declared the failed takeover bid to be a positive move for the supermarket and looks forward to a period of stability and business as usual. In contrast Revell has stated that there remain issues across the group which are still not resolved. We are aware that significant Sainsburys shareholders have designs on splitting the companys retail and property interests. Such a split would not be good news in our judgment and we would urge the board to resist the temptation. And other investors such as Robert Tchenguiz whose property empire owns a 10% stake in Sainsburys is continually lobbying the board to release the  £8 billion value of Sainsburyà ¢Ã¢â€š ¬Ã¢â€ž ¢s, in order to re-invest in a significant property enterprise. [25]The companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s most recent announcements to begin moving more resources into non-food initiatives, may see a more gradual shift into different, more varied opportunistic markets such as this. Similarly only six months ago Sainsburyà ¢Ã¢â€š ¬Ã¢â€ž ¢s announced their new investments of  £273 million into the joint venture property enterprise British Land. 2008 has marked the end of the companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s Making Sainsbu ryà ¢Ã¢â€š ¬Ã¢â€ž ¢s Great Again strategy, launched in 2004 at the height of their financial difficulties and struggle to maintain their profile. This recovery plan had revolved around improving customer incentives and operational efficiency in order to increase sales and profit enhancement. The original sales target set by the group in 2004 had been an agreed  £2.5 billion. With sales of  £2.7 billion announced in March of this year the supermarket giant has managed to exceed their target, with profits also significantly increasing by 28.4% before tax. A final dividend of 9.00 pence per share agreed in 2008 raises the year end dividend to 12.00 pence. This demonstrates an increase of 23.1 per cent compared to 2007.[26] However the Financial Times income statement for Sainsburyà ¢Ã¢â€š ¬Ã¢â€ž ¢s confirms that Year on year since 2004 little progress has been made in their total net income which has risen from 325.00m to just 329.00m. What is apparent is the grow th in revenue by 4.00% during this period which can be attributed to the increase in the cost of goods sold as a percentage of their sales. Cash flow margins from these figures also illustrate considerable losses in cash reserves for 2008. This is probably accountable by way of the 791million the company spent on investments.[27] It was announced at a Food and Grocery conference earlier this year that Sainsburyà ¢Ã¢â€š ¬Ã¢â€ž ¢s will now take forward a new strategy, following on from the success of Making Sainsburyà ¢Ã¢â€š ¬Ã¢â€ž ¢s Great Again. The new From Recovery to Growth plan heralds s the start of another three year initiative that will anticipate a sales growth of  £3.5 billion. Around  £15 million will be invested in the project.This latest strategy will see Sainsburyà ¢Ã¢â€š ¬Ã¢â€ž ¢s focusing on new business opportunities, improving their online home delivery service and diversifying its products to expand further into the non-foods market.[28] Conc lusion Sainsburyà ¢Ã¢â€š ¬Ã¢â€ž ¢s has responded to a variety of financial challenges over the past five years, dealing with the threat of stronger competition, a fluctuating economy which has influenced UK shopping trends and beaten back the threat of takeover and possible insolvency. In 2005 the sales figures, profit losses and ever decreasing share prices were presenting a bleak picture for the company. A massive recovery plan, expansion of its stores and nationwide initiatives and new partnerships enabled the company to recuperate its losses and generate a huge increase in sales. Early measures taken to dramatically cut the costs of ità ¢Ã¢â€š ¬Ã¢â€ž ¢s IT outsourcing in 2005 also contributed to the decrease in unnecessary investments. Together with their shrewd publicity campaigns led by the popular celebrity chef Jamie Oliver, Sainsburyà ¢Ã¢â€š ¬Ã¢â€ž ¢s used a number of combined profile raising and financial initiatives in order to deliver a complete economic turnaround . In 2008 Sainsburyà ¢Ã¢â€š ¬Ã¢â€ž ¢s total retail sales including VAT currently stand at 19,287 million, an increase on their previous year from 18,227 million. And a considerable improvement on their sales figures recorded for 2005 at 16,354 million. Since 2005 a steady year on year rise has amounted to a total increase in sales of just under  £300 million. Similarly their profits have soared. Profit before tax in 2008 confirms a 28.4% rise at  £488 million. Precisely  £108 million compared to 2007. Profits in 2006 were recorded at  £108 million. This illustrates an overwhelming profit increase of  £380 million for Sainsburyà ¢Ã¢â€š ¬Ã¢â€ž ¢s over just two years. Like-for-like sales, excluding fuel, has risen 3.9 per cent. The group has recorded 13 consecutive quarters of like-for-like growth. Sales, cost cutting and profit targets under this programme have all been exceeded in accordance with the Making Sainsburyà ¢Ã¢â€š ¬Ã¢â€ž ¢s Great Again strategy. In the face of continued speculation regarding the global economy and less disposable income, Sainsburyà ¢Ã¢â€š ¬Ã¢â€ž ¢s Chief Executive, Justin King has acknowledged the ongoing worries regarding consumer spend across all economies, declaring Sainsburyà ¢Ã¢â€š ¬Ã¢â€ž ¢s to be à ¢Ã¢â€š ¬Ã‹Å"clearly under pressureà ¢Ã¢â€š ¬Ã¢â€ž ¢, expecting the market to continue to be à ¢Ã¢â€š ¬Ã‹Å"intensely competitiveà ¢Ã¢â€š ¬Ã¢â€ž ¢. He has also positively indicated that à ¢Ã¢â€š ¬Ã‹Å"people eat at home more rather than spending money on visiting restaurants.à ¢Ã¢â€š ¬Ã¢â€ž ¢ [29] Which will obviously falls in favour of the retail food market. Sainsburys has lost some of its share in the market recently and customers have been turning to cheaper supermarkets. In response the company launched their à ¢Ã¢â€š ¬Ã‹Å"Feed your family for a fiver campaign earlier in the year, championed once again by Jamie Oliver. The scheme seeks to provide customers with a range of h ealthy, fresh and tasty meal options for four people at a budget of  £5 or under. Another interesting point to note is that Justin King as declared food price inflation to exist at 2% with regard to Sainsburyà ¢Ã¢â€š ¬Ã¢â€ž ¢s supermarkets, whereas the Office for National Statistics quotes the figure to be 6.6%. Time will only tell how Sainsburyà ¢Ã¢â€š ¬Ã¢â€ž ¢s fair the recent storm involving the impact of the credit crunch. Sainsbury shares have also dramatically recovered after decreasing to 320p in March this year. But overall the companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s high volume of sales and their cost efficiencies will help to ease any impact of investment in price and new salary increases. Primarily Sainsburyà ¢Ã¢â€š ¬Ã¢â€ž ¢s has fought to focus on providing for the specific needs of the customer over the past few years and has succeeded in benefiting from those objectives. Bibliography Boyer, K.K, Frohlich, M.T, Hult,T.M (2004) à ¢Ã¢â€š ¬Ã‹Å"Extending the Suppl y Chain: How Cutting-edge Companies Bridge the Critical Last Mile Into Customers Homesà ¢Ã¢â€š ¬Ã¢â€ž ¢, AMACOM Div Mgmt Assn Financial Times (2008) https://markets.ft.com/tearsheets/performance.asp?s=uk%3ASBRY, Date accessed 12/09/08 Food and Grocery conference (2008) https://www.igd.com/cir.asp?menuid=22cirid=2563, Date accessed 12/09/08 Investment Advisory site article à ¢Ã¢â€š ¬Ã‹Å"Donà ¢Ã¢â€š ¬Ã¢â€ž ¢t Sell Sainsburyà ¢Ã¢â€š ¬Ã¢â€ž ¢sà ¢Ã¢â€š ¬Ã¢â€ž ¢, Rodney Hobson (2008) https://www.fool.co.uk/news/investing/company-comment/2008/05/14/dont-sell-sainsbury.aspx, Date accessed 12/09/08 Jivkov, M (2006) à ¢Ã¢â€š ¬Ã‹Å"The Week Ahead: Huge profits leap in store for J Sainsburyà ¢Ã¢â€š ¬Ã¢â€ž ¢ Independent Newspaper Knights, M (2005) à ¢Ã¢â€š ¬Ã‹Å"Sainsburys calls time on IT outsourcing contractà ¢Ã¢â€š ¬Ã¢â€ž ¢, Computing magazine MacArthur Foundation (1999) J Sainsbury Plc and the Home Depot: J. 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