Analysis of an Organisation (Abercrombie and Fitch) and its Coursework

Analysis of an Organisation (Abercrombie and Fitch) and its Competitive Environment, and Recommendation of a Strategy - Coursework Example The company has established its reputation as a â€Å"one-stop† place for shopping of the whole family (MarketLine Advantage, 2014). During the period of management by the CEO Mike Jeffries the company also has gained some negative reputation, for being racist, discriminative and has been involved in several lawsuits. In FY 2013 the company has reported same-store sales decline by 10%, indicating on the worsening financial position of A&F (Business Insider, 2014). A&F being a large diversified corporation is made up of multiple Strategic Business Units. For the current analysis the SBU of A&F has been identified by geographical criteria. The aim of this report is to suggest a number of strategies for A&F. This report will critically investigate and evaluate A&F current & future strategies. Inimitability: capabilities are not as difficult and costly for competitors to obtain or imitate as the company has no manufacturing, and its business is built around the brand, which is weakening (competitive disadvantage); Organizational Support: for now the organization is appropriately organized to exploit it capabilities, however, this might not be enough if the company pursues more aggressive international business expansion (Temporary competitive advantage). One of the major strengths of A&F is referred to the well-diversified brand portfolio comprised of the following brands: Abercombie & Fitch, Hollister, Abercombie kids, and Gilly Hicks. These brands offer sportswear apparel, personal care and accessories for a broad category of customers, including men, women, youth and kids. Due to brand portfolio diversification the company has managed to position itself in the minds of the customers as â€Å"one-stop† store. Also, the company operates a large number of stores in North America, Asia, and Europe, which helps it to reach greater number of customers and thus to generate greater sales. As of 2014, A & F operated more than 1000 stores (MarketLine

Comprehensive Plan to Improve Human Resources Essay Example for Free

Comprehensive Plan to Improve Human Resources Essay Whole Foods Market- a company that doesn’t think of itself as a company, but as a community of people working to make a difference in the world. At Whole Foods, the mission matters as much as the bottom line. But who is Whole Foods Market, and how does their Human Resource Management (HRM) play a role in the development of their culture or work environment? This comprehensive plan will describe Whole Foods Market’s history and the challenges and/or opportunities of the company. It will explore the effectiveness of the organizations current human resource practices with regard to the employees and describe strategies to improve the quality of those practices. Additionally, the impact of implementing the strategic improvements and how the organization would measure success upon implementation will be discussed. Whole Foods Market: The Organization Whole Foods Market is the world’s leader in natural and organic foods. With more than 270 stores in North America and the United Kingdom, the organization seeks out the best natural and organic foods obtainable; while preserving better-quality standards in the industry. According to Porter and Kramer (2009), the intention of the organization is to sell organic, natural, and healthy food products to its consumers who are passionate about food and the environment. Whole Foods Market focuses on unrefined foods, health and nutrition. They are definitely not like any other grocery store. Their ultimate goal is to become an international brand identical with not just natural and organic goods, but also with being the greatest food retailer in every community in which they are located. Therefore, Whole Foods Market must purposefully plan and assess the marketing of its goods according to the demand of the customers (Whole Foods Market, n. d). For the last thirteen years, team members at Whole Foods Market, named their company as one of Fortune magazine’s â€Å"100 Best Companies to work for. † In 2010, they were ranked number eighteen. Whole Foods is acknowledged for its team-based operations and employee-oriented work culture, which are considered to be the foundations of its development and success within the industry (Whole Foods Market, n. d. ). Whole Foods Market takes pride in setting themselves apart from their competitors within the industry. No matter how much the company excels in size or makes changes to the organization, the organization supports change by establishing and maintaining seven core values. According to Whole Foods Market (n. ), the core values are â€Å"selling the highest quality of natural and organic products available, satisfying and delighting customers, supporting team member happiness and excellence, creating wealth through profit and growth, caring about the community and environment, creating an ongoing win-win partnership with suppliers, and promoting the health of stakeholders through healthy eating education. † Included in these core values are open communication and transparency, education and training, and staff empowerment. No matter how large a company Whole Foods Market becomes, they preserve what makes them unique through these core values. Whole Foods Market: Challenges and Opportunities As with many organizations, the past economic down turn has caused many organizations to face a lot of challenges and to make difficult business decisions. Whole Foods Market created a permanent modification in how they operate many vital areas of the business. This year, 2010, the company’s business model includes continued focus on vital areas of the company by focusing in on purchasing with regards to the business while creating more worth for the consumer regarding pricing (Whole Foods Market, n. d). In the letter to the stakeholders (2009), Mackey, CEO desires to stay focused on dropping operating cost without harming the customer experience. Additionally, he states that as an organization they are committed to being better custodians of capital and producing free cash flow on a yearly basis. In the future, Mackey foresees new smaller stores that are less expensive, and an increase return on invested capital. A recent 2009 SWOT Analysis of the organization from Datamonitor (2009) listed some additional opportunities such as the recent strategic acquisitions that helped in strengthening their market position. These acquisitions also help the organization to expand its operations in the natural and organic foods markets as well as increase its client base and the number of product categories. One acquisition in particular is the merge with Wild Oats Market in 2007. Other opportunities recorded by Datamonitor (2009) include the growing demand for private label products. Recent economic conditions have warranted companies to offer less expensive private label products as an alternative to the customers’ needs. Whole Foods Market: Human Resource Management Strategies What makes Whole Foods stand out from others in the industry is not a single management process but a distinctive managing structure which includes Human Resource Management support. According to Rose and Kumar (2006) it is important that organizations utilize HRM practices that make best use of its employees, and that is just what Whole Foods Market has done. For example, at Whole Foods, the basic organizational unit isn’t the store but small teams that manage departments such as fresh produce, prepared foods, and seafood. Teams are consulted on all store-level decisions and they have been given a degree of independence that is very unique in the industry (Whole Foods Market, n. d). According to Hamel (2006), each team makes decisions concerning stock, and new hires. Bonuses are paid to the teams, not to individuals. Members have access to comprehensive fiscal information, including the details of every coworker’s wage. Whole Foods Market has been very successful with their ability to recruit and retain good employees. The recruiting process is exceptionally unique. According to Whole Foods Market (n. d), applicants are generally screened by store management or by a human resources person through a preliminary interview. Once the individual is screened for overall job skills and qualifications, the application is referred to the appropriate department managers for a final interview. The final interview process may be conducted by a team or panel depending on the position. Team member’s partaking in group interviews is one way the company puts its culture of empowerment into action. Hamel and Breen (2007), state that this recruiting process is used for all new employees; including those hoping to join teams at Whole Foods’ center of operations, such as the national IT or finance groups. Additional HRM practices include the organizations focus on compensation and incentive based rewards. According to Erickson and Gratton (2007), this is one of the main components of their rewards system within the organization. Each team’s compensation is directly linked to how well that team functions. Team performance is considered in terms of overall productivity; profit-sharing based on those numbers are added directly to each team member’s compensation. Teams are responsible for a different product category or aspect of store operations such as customer service, prepared foods, or grocery, among others. Whole Foods believes in a company-wide awareness of sharing the fate of the business by combining the wellbeing of team members as directly as possible with the interests of the shareholders. The organization uses a gain sharing program to reinforce concept. This program rewards things that members of the team can control such as work efficiency which gives members a direct stake in the victories of the company (Whole Foods Market, n. d). Whole Foods also encourages stock ownership options in plans such as the Team Member Stock Option Plan. Within this plan, all members are entitled to receive a grant of stock options each year. According to the United States Securities and Exchange Commission (2007), the grant has two components: the Annual Leadership Grants identify and motivate team member performance; and the Service Hour Grants identify team member service within the Company. Another plan is the Team Member Stock Purchase Plan. Through payroll deductions, all non-seasonal team members with at least 400 service hours may choose to buy unlimited shares of stock at 95% of market worth on the purchase date. Whole Foods Human Resource practices are effective because the culture allows for an atmosphere of transparency, with open books and open people. These processes include the organizations team process which allows for autonomy and a high level of responsibility of line staff. Through such a practice, members use their decision-making authority to take part in driving the business forward. Additionally, the team process promotes healthy competition, trust between members. Whole Foods Market: Recommended Strategies for Improvement Although Whole Foods HRM practices seem successful, there is room for improvement. The following strategies are recommended in the area of team implementation and practices: * If the organization maintains the team concept it is important that management ensures that members do not to obstruct the team authority over the individual. Members should merely feel responsible to each other, but still free to be themselves. Members should also be recognized as individuals. Individuals have a need to be recognized for hard work and individual achievement. Providing a reward system for individual milestones and achievements might also allow for successful company performance. * The organization should provide opportunities for personal growth and promotion through training and education. * The organization should ensure that there are no cliques within the teams. Cliques could make it difficult to maintain cohesion and cooperation within the team. Management should also ensure or encourage subtle unsanctioned norms that steer the actions of team members, saying what’s suitable and what’s not suitable behavior especially within the recruitment process in which members choose their team members. * The organization should periodically evaluate the alignment of team compensation and incentives for the work that is likely to be performed. * HR should monitor changes in team compensation systems to ensure the organization’s compensation is clearly understood by staff and that any changes, including team incentive pay, is also communicated. HR should ensure that employees within the team are able to see and understand the goals of the team, and gain an understanding of his or her importance as a member. These improvement strategies can only make Whole Foods Market more successful than they are already. These improvements will drive the business success, by assisting in promoting productivity, by increasing job satisfaction and retention, and by increasing profits within the organization. Whole Foods Market: Plan Evaluation and Measurements Before implementation of new strategies, employees will be informed of the proposed implementation and changes. Managers will ensure that staffs understand what is being implemented and the impact to employees if any. The success of this plan will be evaluated by reviewing the success of the implemented strategies periodically to ensure continuous improvement. The evaluation of the strategies will include internal assessments and/or employee surveys/questionnaires. The internal assessments and/or employee surveys/questionnaires will be aimed to ascertain the employees’ satisfaction of those methods and strategies. Results of the evaluation and measurements will be compiled and reviewed by the organizations HR team. The team will seek to: (1) determine if implemented strategies are predictive of organizations mission and business plan, (2) understand how implemented strategies improved or did not improve current HR practices and finally, (3) determine if there is a relationship between the implemented strategies and overall retention and job satisfaction. If the results are satisfactory, strategies will continue to be implemented monitored and reviewed. Results that are unsatisfactory will be discussed with employees to determine why the implemented strategy was not a success and to determine necessary changes if applicable. Whole Foods Market: Conclusion In conclusion both management and HR play an important role in the strategy and betterment of Whole Foods Market. This organization has already established a culture that reduces fear and increases trust. The company prides itself in the transparency between management level staff and line staff. Implementation of these strategies will only assist to increase employee satisfaction and retention.

The Growth of Islamic Financial Services in UK

The Growth of Islamic Financial Services in UK There is huge potential for an expansion of Islamic offerings in the UK financial markets, which will boost Londons position as an international financial centre. (Callum McCarthy,2007) Background Islam is a divine religion and provides guidance for all walks of life. Muslims are currently trying to revitalize the Islamic laws in all fields of life. Especially economic field is in great focus. In 1980s Middle East Muslim countries again tries to put in practice the Islamic financial Islamic laws 1st time and set the foundations for Islamic banking and finance for the world. After that Islamic financial services grew very fast not only Muslim countries but also in Non-Muslim countries. According to FSA (Bank of England and the Financial Services Authority) briefing note (2006) currently Islamic banking and finance is growing from 10% to 15% annually in international market and the main reason of this growth is that Muslim population in Western world and Islamic products are socially responsible. According to Shayerah Ilias (2009) Shariah or Islamic laws are the bases of Islamic finance. Shariah prohibits interest, uncertainty, adherence to risk-sharing and profit-sharing and promote ethical investment and asset backing. S. Ilias (2009) also claimed that currently there is 10% to 15% annual growth in international market for Islamic finance because some researchers argued that Islamic finance brings lots of business opportunities and alternative methods for capital formation and economic development. Among the Western world the demand of Islamic financial market is especially growing in North America and UK, although Muslims are in minority there. According to FSA briefing notes (2006) FSA approved license for the 1st fully Shariah compliance bank Islamic Bank of Britain (IBB) in 2004 and this bank sells Islamic products in consumer market. In 2006 FSA licensed European Islamic Investment Bank that was the 1st independent Shariah compliant investment bank in UK. Aims and objectives Considering the above mentioned historical background of Islamic banking and finance in UK the proposed study aims to further investigate and explore how Islamic banking and finance grew in UK market. Study will explore the motives behind this fast growth and the challenges. Research will further investigate and explore the future scope of Islamic finance in UK. In other world the objective of the research is To explore the growth of Islamic banking and financial services in UK. To find out which Islamic products are commonly sold in UK financial market To explore the reasons of growth of Islamic finance in UK To identify the future possibilities for Islamic banking and finance in UK financial Market To identify the challenges for Islamic banking and finance in UK To meet these objectives proposed research will answer the following questions Whether Islamic banking is growing in Western countries like UK? What kind of Islamic products are commonly sold in UK financial market? What is the Future of Islamic Banking in UK? What kind of challenges Islamic banking and finance can face in Western world particularly in UK? Literature review Islamic banking Ismail Tohirin (2010) argued that Muslims around the world spend their lives under Islamic Rules which are defined by The Holy Book of Quran that is called Shariah law. In Shariah law, all type of interest in Islamic banking products and Islamic finance is forbidden. In Islamic banking, no interest is involved but time value of money and risk considered very important and play its part. Customers and Islamic banking work together on the basis of risk sharing. Both share risks which are already agreed on the terms of investment, profits and losses. According to Laldin (2008) Interest is forbidden in investment of alcohol, pornography and betting. Other banks cannot help Islamic banks or Islamic banks cannot get help to lend. There are different types of Islamic products available for customers. Ijara and Murabha are considered very important products. Historical Background of growth of Islamic banking in UK According to FSA (Bank of England and the Financial Services Authority) briefing note (2006) 3% population of UK are Muslims and nearly half million Muslim visitors regularly visits UK. These facts are the major reason of growth in Islamic banking and finance. Many UK high street bank are offering current accounts and mortgages through Islamic windows. The report further claimed that in Western world the first fully fledged Shahriah bank Islamic Bank of Briton was introduced in 2004 in UK with FSA authorization. London is a major financial center for international firms and Middle Easts banks that offer Islamic products. This also confirms that Islamic finance is growing from 10% to 15% annually at global level. Shayerah Ilias (2009) claimed that internationally modern Islamic finance introduced in 1970s. There is no doubt that currently Islamic has a very small but growing market in global financial market and estimated annual growth rate of Islamic finance is 10% to 15% in last 10 years. He further claimed that Islamic bonds (Sukuk) are gaining popularity in global market. $ 70 million worth Islamic bonds are in global financial market and up to $100 millions are expected in 2010. Global growth of Sukuk from 2004-2007 is approximately more than five folds. This is shown by the following figure (Source Shayerah Ilias, 2009, Islamic Finance: Overview and Policy Concern, DIANE Publishing) Ismail and Tohirin, (2010) also claimed that the growth of Islamic banks is 10-15% per year and there is strong expectation that it will grow further. The recent credit crisis gave further boost to Shariah compliant banking and finance. There are 300 different Islamic Institutions in 51 different countries of the world. The amount of total assets hold by Islamic banks is 822 billion US dollars. In addition, there are 250 mutual funds working around the world which are completely complying with the Islamic banking and financial system. According to CIMB Group Holding Analysis, the rate of growth of Islamic banking and finance is fast than any other financial institution. The rate of growth of Islamic bonds is nearly 24% with the total amount of 25 billion US dollars in 2010. The network of Islamic banking is not only constrained in the Muslim world but it is also spread in different continent and different developed world including America and United Kingdom. Principles of Islamic Banking and Islamic products The purpose of Islamic banking is same as main stream banking system except that it is in accordance with the laws of Shariah. The transactions in Islamic banking system are done with the help of Islamic banking system. The most common terms used in Islamic banking are Riba (interest), Mudarabah (Profit sharing), safekeeping (Wadiah), Musharakah (Joint Venture) Ijara (leasing) Tufakil (Insurance). (Hassan and Lewis, 2007) Islamic Mortgages The banks first purchase the property and then sell it to its customer. Here Islamic banks are not acting as a third party. They get ownership of the property and deal with the customer as first hand party. The banks give ownership of property to its customer from very first day. As bank income is implicit and banks do not charge some additional amount on the late payments. To avoid the bankruptcy, the banks do extensive check of credit worthiness and security measures. This type of agreement is called Murabha. Another approach is called Ijara; this contract is same like real estate and mostly applied on the leasing of vehicle. The customer is charged higher for the product then market value of product. The ownership of product is given at the time of full payment. (Hassan and Lewis, 2007) Partnership (Musharakah) In this type of product the bank and borrowing party make a partnership entity. They both invest in the property. The borrower then gives property at the rent and gets rental income. At this stage bank and borrower both have shares in the property. The borrower then starts to pay the money at the greed amount and banks shares reduce with each instalment. This will carry on until borrower gets all the shares of property for the bank. (Benamraoui, 2008) In case of default both bank and borrower will get the proceeds from sales in certain percentage which is equal to floating market rates, on the basis of BLR (basic lending rate). This is especially applicable in the banking system is dual in nature. Mudarabah (venture capital) In this contract one party provides the finance for a project while other party provides required expertise and labour force. Both the parties get agree in the beginning of contract in case of profit from the project who much will be share of both parties and if project gets failed then in what proportion they will share the shock of loss. Here expert company does not promise to pay certain amount of money back. Rather than that they keep an uncertainty. The logical justification for that is the future is uncertain. A project which is looking very good and there is strong expectation that it will give positive cash flow from the beginning can get wrong and result into loss. On the other hand, uncertain external environment can make a very weak project to a good positive cash generator. In such circumstances, it is not possible for any organization to promise that they will definitely give certain amount of money. (Hassan and Lewis, 2007) In modern banking system, banks normally promise with the investor that they will give them certain amount of money. If due to internal or external economic reason, they get failed, they have to apply for bankruptcy. In this case investors lose whole sum of money. It means if someone makes a promise that they will pay them certain money is actually lie. Islamic banks do not involve in such guarantees. (Ismail and Tohirin, 2010) Islamic Credit Cards Islamic credit cards are accepted in all over the world. These are getting more and more popular due to their benefits which holder of card get and not available through the cards of main stream banks. The holders of card will not have to pay the interest if payment is made before due date. The second benefit of Islamic credit card is that the cardholder can pay Zakat and Takaful online through this card. (Ismail and Tohirin, 2010) Bai Al-Inahl, Quardul Hassan and Al-Wadiah can be applied in Islamic credit card transactions. In this way, Islamic credit cards are complied with the Shariah products. The main stream banks are not providing any of such facilities. The transaction make through Islamic credit cards are interest free and have fixed profit margin if payment on the credit card is late. It does not compound up once payment is not made in time as traditional banks are doing. (Ismail and Tohirin, 2010) SukukÂÂ  (Islamic Bond) These are Islamic financial certificates or in other word, these are Islamic bonds. The investors in the bond do not get the fixed rate of return on investment as interest is prohibited in Islamic economics. The Islamic bonds are classified into tradability and Non-tradability. The total worth of Islamic bonds in next ten years framework would be 1.2 trillion US dollars. The holder of these bonds profit at the rate as the investor is returning to issuer Company. The issuer of bonds set the terms and conditions of its shares in profit. However, investors also share some risk of loss. To avoid the risk the investment project is carefully monitored in the beginning of contract and during the life cycle of project. (Laldin, 2008) Main drivers of Growth M. Ainley et al (2007) argued that there are six main reasons of growth of Islamic financial services in UK No Reason of Growth Explanation 1 Global expansion Islamic finance is growing very fast in the world. Islamic banking 1st introduces in 1060s in Middle East and grows very fast and now its market size is approximately ÂÂ £250bn globally and nearly 300 financial institutions are offering Islamic financial products. This fast growth has affect UK market too 2 Liquid Markets Londons financial market is very flexible, innovative and liquid. UK financial industry is very famous for developing and delivering new financial products 3 Islamic windows Many global banks and financial institutes are working in Middle East and South East Asian countries and have gained a very experience of local market where Islamic banking is growing very fast. So these international banks like Citi, HSBC etc have established Islamic windows that sell Islamic products with their normal routine business. 4 Excess Liquidity in Middle East Excessive Liquidity in the Middle East countries have encouraged the growth of Islamic as well as conventional assets and local financial markets are not capable enough to manage financial activities and large investors starting considering international financial markets. 5 Public policy and regulation UK government also have changed public policy and taxation and developed a taxation policy that is both applicable for both Islamic and conventional financial products 6 Single financial regulator UK government have developed 11 different financial regulators into one by introducing the Bank of England and the Financial Services Authority (FSA) that has increased the result in improved access to Islamic banks and Islamic financial products (Source M. Ainley et al, 2007, Islamic Finance in the UK: Regulation and Challenges, Financial Service Authority accessed from http://www.fsa.gov.uk) Challenges for Islamic finance in UK According to Clive Briault (2007) currently Islamic banks are facing the same challenges as conventional banking but there are some risks which are affecting Islamic banks only. But he mentioned two challenges in particular Risk Management Clive Briault (2007) argued that it is very difficult to manage risk for Islamic finance because many risk management tools that are used by conventional banks or firms are not compliant to Shariah. So there is a big challenge for Islamic finance to develop the tools for risk management. He used the example of Mudaraba and claimed that this product have the same effects in term of liquidity as conventional banks interbank deposit and FSA have concern that how Islamic banks will manage risk for that products. Diverse opinion among Shariah scholars Clive Briault (2007) also claimed that 2nd main concern about Islamic banking is that there is a difference in opinion among Shariah scholars about the different products and FSA a secular regulator not religious so it is difficult for FSA to determine which product is Islamic product and which is not. Research Gap and significance There is no doubt that Islamic Banking and finance is a very hot topic in Western world. Many researchers have presented the growth history and mentioned the annual growth rate of Islamic finance in UK. But less focus is given on the reason of this fast growth, its consequences and what will be possibilities for Islamic finance in future in UK finance market and what could be the challenges for Islamic products in UK. So proposed research will critically review the information provided in literature and will explore the possible reasons of this fast growth and will also try to figure out the possibilities of future growth and challenges in UK market. Research Methodology The title of the research suggest that researcher is exploring the growth of Islamic finance in UK, so proposed study will be exploratory research in which research will explore the available literature to find out how Islamic finance make its way in UK financial market and how it have been growing till now. Researcher will further explore through research papers and FSA reports and articles that what could be the future scope for the Islamic finance and banking. Researcher will also try to find common Islamic products offered in UK financial market through Islamic banks or Islamic windows and what could be the possible challenges for the Islamic finance. Secondary Data According to Fowler (2008) secondary data is a data that is taken from already available data that is collected by other researchers or government agencies for their own purposes. The sources of that data is any kind of published material in form of books, articles, researcher papers, reports etc. As mentioned above that proposed study is exploratory in nature, so secondary data collection method will be best because Islamic banking and finance is very hot topic in the west especially in UK and many Muslim and Western scholars are trying to figure out the future of Islamic finance. It is also mentioned in literature review that researchers claim that Islamic finance is the most growing sector in international financial market. So for exploring all these reality secondary research will be best and researcher will explore already published research and will identify the future scope and challenges for Islamic finance in UK market. Qualitative approach For proposed study qualitative approach will be adopted to explain, interpret and analyze the information gathered through secondary sources. Researcher will try to find out the trends and patterns from available information qualitatively to understand the possible scope and challenges for Islamic finance in UK. Denscomb M (2007) argued that in qualitative approach data is presented in words and images. This approach is adopted where researcher deals will problems related to social sciences or researcher try to explain the points using words or images. In proposed research, researcher is also using words and images to explore and explain the facts regarding Islamic finance. But researcher will not restrict him/herself to qualitative approach and will also use numbers and figures if needed. So researcher will mostly rely on qualitative approach but also can use qualitative data. Quantitative approach According to Denscomb M (2007) in qualitative approach data is collected or analyzed using numbers or figures.

Employee Theft in the Restaurant Industry Essay -- essays research pap

Employee Theft in the Restaurant Industry It has been estimated that about $52 billion a year is lost due to employee theft and that approximately 95% of all businesses experience employee theft. Employee theft amounts to 4 percent of food sales at a cost in excess of $8.5 billion annually, according to the National Restaurant Association (Neighbors 2004.) The small Business Administration indicates that 60 percent of business failures are a result of employee theft. There are several reasons why the restaurant industry is extremely susceptible to employee theft. They are: †¢ High employee turnover †¢ Easy access to cash †¢ Food and Liquor are highly desirable items There are many different way in which restaurant employees steal from their employers, some of the ways are: 1) Under-ringing of sales and the tearing up order tickets are two longtime scams in the food and beverage industry. An employee serves a customer in the restaurant, and the customer pays the check at the meal's end, but instead of putting the money and ticket in the register, the employee tears up the order ticket and pockets the cash. The restaurant owner has no record of that order or money tendered. Or an employee sold something for $17.50," and rang in $7.50 The employee put the $17.50 in the register and at the end of the night, would pocket the extra $10.00. Since the cash in the register drawer would match the transactions listed on the register tape, the theft would not be known. ... Employee Theft in the Restaurant Industry Essay -- essays research pap Employee Theft in the Restaurant Industry It has been estimated that about $52 billion a year is lost due to employee theft and that approximately 95% of all businesses experience employee theft. Employee theft amounts to 4 percent of food sales at a cost in excess of $8.5 billion annually, according to the National Restaurant Association (Neighbors 2004.) The small Business Administration indicates that 60 percent of business failures are a result of employee theft. There are several reasons why the restaurant industry is extremely susceptible to employee theft. They are: †¢ High employee turnover †¢ Easy access to cash †¢ Food and Liquor are highly desirable items There are many different way in which restaurant employees steal from their employers, some of the ways are: 1) Under-ringing of sales and the tearing up order tickets are two longtime scams in the food and beverage industry. An employee serves a customer in the restaurant, and the customer pays the check at the meal's end, but instead of putting the money and ticket in the register, the employee tears up the order ticket and pockets the cash. The restaurant owner has no record of that order or money tendered. Or an employee sold something for $17.50," and rang in $7.50 The employee put the $17.50 in the register and at the end of the night, would pocket the extra $10.00. Since the cash in the register drawer would match the transactions listed on the register tape, the theft would not be known. ...

Felix Mendelssohn Essay

Felix Mendelssohn was born in Hamburg, Germany on February 3, 1809. He was one of four children, Fanny, Rebekah, and Paul were his siblings. He showed off his talent at a young age by playing the piano, violin, painting and gifted in many languages. When he moved to Berlin, Felix studied piano and composition under Ludwig Berger and Karl F. Zelter. Zelter took his 12 year old student to visit Johann Wolfgang von Goethe, a German poet. Goethe was very fascinated by the young man and later heard his B minor pianoforte quartet and showed such appreciation that Mendelssohn dedicated the piece to Goethe. Not only did Mendelssohn find inspiration in the works of Goethe, but he also was inspired byt the works of William Shakespeare. At the age of 17, he composed the overture to â€Å"A Midsummer Night’s Dream Opus 21†. Mendelssohn then went on to study at Berlin University where he decided that music was his passion and chosen profession. After his college years, Mendelssohn t raveled and performed all around Europe. In 1812 he visited London, a city where he quite enjoyed performing, and he performed his â€Å"Hebrides Overture†. â€Å"In 1833, he took on the post of conductor at Dà ¼sseldorf, giving concert performances of Handel’s â€Å"Messiah† among others. That same year, he composed many of his own vocal works, including â€Å"Lord, Have Mercy Upon Us,†, and the Opera, â€Å"Trala. A frischer Bua bin i†, as well as the â€Å"Italian Symphony†Ã¢â‚¬  (Todd). At the age of 26, Mendelssohn moved to Leipzig and became conductor of the Leipzig Gewandhaus Orchestra. He performed works by Bach and Beethoven but at the time was not really interested in Bach’s music. Early in 1829, Mendelssohn had made his debut as a Maestro. He was the first to conduct Bach’s â€Å"St. Matthew Passion† since the composer’s death in 1750. In 1832, Mendelssohn married Cà ©cile Jeanrenaud, the daughter o f a Protestant clergyman. They had five children, Carl, Marie, Paul, Felix and Lilli. Over the years that followed, he gave many successful performances of his work, and those of other great composers as well. Mendelssohn composed numerous works for the piano, which was pretty popular at the time. In 1843, Mendelssohn founded and directed the Leipzig Conservatory, where he also taught if his busy schedule allowed it. â€Å"In addition to his post at the Conservatory, Mendelssohn was named director of the Music Section of the Academy of Arts in Berlin by King Frederick of Prussia, but this appointment wasn’t entirely pleasing for Mendelssohn, who was often asked to compose on demand. He was left with little time for his own work, but he still managed to compose such masterpieces as the Ruy Blas overture, stage music for Shakespeare’s † A Midsummer Night’s Dream†, of which the now world-famous â€Å"Wedding March† was a part of, and â€Å"The Scottish Symphony†, the third of the five symphonies he composed during his lifetime† (Lewis). Felix Mendelssohn was very close to his family. From his sister Fanny to his father, to his own wife and children, and he cherished the moments spent with them. When his father died in 1835, Me ndelssohn felt like he had lost his best friend. Seven years later, his mother died, adding to the tragedy. His sister Fanny suffered a stroke while rehearsing for a Sunday concert. She died on May 14th, 1847. He himself suffered two strokes, the last of which killed him on November 4th, 1847. He was 38 years old. He was buried alongside his sister in the cemetery of Holy Cross Church in Berlin. Some critics may argue that he would have been another Bach or Mozart if he had suffered more in life, as the â€Å"tortured artist† clichà © dictates. Schuman agreed with Mendelssohn on one thing: criticism. â€Å"To a certain extent the German nation has recovered from one mistake in judgment; the tendency to evaluate Schuman above Mendelssohn was a very long time mistakable† (Grove). â€Å"Nearly a hundred years after his death, the Nazis tried to discredit him, taking down his statue in Leipzig, and even going as far as forbidding the study and performance of his musicâ⠂¬  (Lewis). Of course, none of their efforts to silence the voice of genius had any success, and Mendelssohn is now considered the 19th century equivalent of Wolfgang Amadeus Mozart. Mendelssohn will remain the most successful composer of his time, surely deserving a place alongside greats such as Mozart, Bach, and Beethoven. He was most known for Violin Concerto in E Minor, incidental music for A Midsummer Night’s Dream, five symphonies, including no. 3 â€Å"Italian† and no. 4 â€Å"Scottish† and the oratorios Elijah and St. Paul. Works Cited Grove, George, and Stanley Sadie. Grove’s Dictionary of Music and Musicians. London: MacMillan Publishers, 1980. Print. Lewis, Ronald. â€Å"Felix Mendelssohn Biography.† Felix Mendelsohn.com. 2002. Web. 15 March 2012. http://www.felixmendelssohn.com/felix_mendelssohn_bio_001.htm Todd, R. Larry. Mendelssohn: A Life in Music. New York: Oxford University Press, 2003. Print.

PENN Surname Meaning and Origin

PENN Surname Meaning and Origin The Penn surname has several possible meanings: a topographical  name for someone who lived near a fold or hill. From the Breton/Old English word penn, meaning hill and pen, fold.a habitational name from various places called Penn, such as Penn in Buckinghamshire and Staffordshire, England.an  occupational name for an impounder of stray animals, from the Old English penn, meaning (sheep) pen.as a German surname, Penn may have originated as a nickname for a short, stocky person, from  pien, meaning tree stump. Surname Origin: English, German Alternate Surname Spellings: PENNE, PEN Where in the World the Penn Surname Is Found While it originated in England, the Penn surname is now most prevalent in the United States, according to surname distribution data from Forebears, but most common in the British Virgin Islands, where it is the 3rd most popular surname. Around the turn of the 20th century, the Penn surname in Britain was most common, based on the percentage of the population with the surname, in Northamptonshire, England, followed by Hertfordshire, Worcestershire, Buckinghamshire, and Oxfordshire. WorldNames PublicProfiler, on the other hand, indicates the Penn surname is most frequent in the United Kingdom, especially in southern England, plus Cumbria in the north and Stirling in Scotland. It is also common in the Eferding district of Austria, especially in Freistadt and Urfahr-Umgebung. Famous People with the Last Name Penn William Penn - an  English Quaker is best known for founding the colony of Pennsylvania as a place for religious freedom in AmericaSean Penn - Academy-award winning American actorKal Penn - American film and television actor, who has also served several roles in the Obama administrationArthur Horace Penn  - member of the British royal householdHarry Penn - African-American civil rights activist and dentistRobert Penn -  African-American sailor, recipient of the Medal of Honor during the Spanish–American War Genealogy Resources for the Surname Penn The Family of William Penn, Founder of Pennsylvania, Ancestry and Descendants: A digitized copy of a book on the ancestors and descendants of Sir William Penn, published by Howard M. Jenkins in Philadelphia, Pennsylvania in  1899. Free on Internet Archive.Penn Family Genealogy: A website tracing the descendants of  John Penne,  born in 1500 in Minety, Gloucestershire, England.Penn Family Crest - Its Not What You Think: Contrary to what you may hear, there is no such thing as a Penn  family crest or coat of arms for the Penn surname.  Coats of arms are granted to individuals, not families, and may rightfully be used only by the uninterrupted male-line descendants of the person to whom the coat of arms was originally granted.FamilySearch - PENN Genealogy: Explore over 500,000 historical records and lineage-linked family trees posted for the Penn  surname and its variations on the free FamilySearch website, hosted by the Church of Jesus Christ of Latter-day Saints.PENN Surna me Family Mailing Lists: RootsWeb hosts several free mailing lists for researchers of the Penn surname. DistantCousin.com - PENN  Genealogy Family History: Explore free databases and genealogy links for the last name Penn.PENN Genealogy Forum: Search the archives for posts about Penn ancestors, or post your own Penn query.The Penn  Genealogy and Family Tree Page: Browse genealogy records and links to genealogical and historical records for individuals with the popular last name Penn from the website of Genealogy Today. References Cottle, Basil.  Penguin Dictionary of Surnames. Baltimore, MD: Penguin Books, 1967.Dorward, David.  Scottish Surnames. Collins Celtic (Pocket edition), 1998.Fucilla, Joseph.  Our Italian Surnames. Genealogical Publishing Company, 2003.Hanks, Patrick, and Flavia Hodges.  A Dictionary of Surnames. Oxford University Press, 1989.Hanks, Patrick.  Dictionary of American Family Names. Oxford University Press, 2003.Reaney, P.H.  A Dictionary of English Surnames. Oxford University Press, 1997.Smith, Elsdon C.  American Surnames. Genealogical Publishing Company, 1997.