Driving Forces Of The Jamaican Economy

Driving Forces Of The Jamaican Economy The purpose of this research is to do an analysis of the investment setting of the local economy . This will be done through an analysis of the macro economy, industry analysis and company analysis. This research seeks to identify the three industries which have the greatest potential for growth for the period 2013- 2016. From the three industries identified, the industry with the greatest growth potential will be analysed further and a company chosen from this industry for fundamental analysis. The results presented from the research should be treated as conclusive but rather as an hypothesis or best guess for the direction of the economy during the period 2013- 2016. Economic Analysis is the study of general economic conditions that is used in the valuation of common stock. The macro economy is the environment in which all firms operate and it has a great influence on profits and the firms relative performance within the industry. Driving Forces of the Jamaican Economy Jamaica is a small developing economy with a lot of potential for growth if resources are used more effectively. Over the years it is evident that the economy has been growing, however, there are areas that seem to be crippling. The major drivers of growth in the economy are agriculture, forestry and fishing. On the other hand it is expected that mining, quarrying, hotels, restaurants and electricity will expand. Over the past years the contribution of agriculture to GDP ranges from 6.5% 8.5%. If this number is to grow the economy would have to get in the frame of mind of eating what we grow which will help to decrease imports, however exports would have to increase since it would not be beneficial to stop importing but do nothing about exporting. Industries make up 29.5 % and services makes up 64.7% of GDP. The economy depends mostly on services which include restaurants and hotels which make up the greater portion of GDP. However the country generates most of its foreign exchange from tourism and bauxite. Although the economy is growing it would be better if there were not so many hindering factors. These factors include crime and corruption, large-scale unemployment and underemployment. Instead of seeing a decline, the economy is experiencing growth in those factors, and these affect the economy negatively. According to a paper on national security it stated Jamaica has a culture of crime, this high crime rate in the economy causes there to be fewer investments which results in a slow growth of the economy. As a small economy with so much potential to grow but little resources and few modern technology there are some corrective measures that should be in place if the economy should grow. According to Paul Allen a business reporter these measures include: embracing competitiveness and taking the necessary measures to achieve and maintain it, companies need to move away from targeting the local market and focus more internationally, make better uses of resources invested in economic activities and adopting policies that encourage innovation and cohesion. In implementing these measures the economy will be sure to see growth. It may not show currently but it will show over a period of time if implemented at the right time and with the right precautions. Unemployment Unemployment rate is the percentage of the total labour force that is unemployed but actively seeking employment and willing to work. Decreasing unemployment in Jamaica has always been one of the major economic factors that the Jamaican government have always tried to solve. The graph  [1]  shows the movement of unemployment rates between the years 2009-2013. The figures show a gradual increase in unemployment over a three year period and also a forecasted increase over a two year period. According to the PIOJ in an article in the Jamaican Observer dated August 22, 2012 the economy is going through a transformation in which sectors growing the fastest are the ones shedding jobs due to modernisation taking place. Compared to other Caribbean countries Jamaica has been experiencing the slowest economic growth and the country will continue to face challenges for years to come. To combat this problem the current government will be maintaining a broadly market friendly policy stance and reducing Jamaicas high unemployment rate a priority. They have found $4 billion funding for the Jamaican Emergency Employment Programme (JEEP) in the efforts to solve this problem and as such the projections for unemployment for 2012 and 2013 are 13% and 14% respectively. Interest Rates Interest rate is a rate which is charged or paid for the use of money and is often expressed as an annual percentage of the principal. The lending interest rates for Jamaica over three years are graphically represented  [2]  . These figures show a gradual decrease in interest rates which can have both negative and positive effects. Low interest rates increases borrowing by consumers and thus increase consumer spending, it will prompt investors to invest more in equities and businesses will be able to finance expansions and so on at cheaper rates all of which will help to expand the economy and increase GDP as they can borrow for less money to finance these activities. On the other hand lower interest rates also indicates that persons will begin to save less as they will not be receiving much return and it can also weaken the dollar. According to Bryan Wynter the Governor of The Bank of Jamaica, He stated in an article dated June 14, 2012 Jamaica will sustain low levels of interest rates. Jamaica is expected to continue stable/decreasing levels of interest rates. Interest rate for Jamaica is currently 17.55% as of August 2012. GDP Gross Domestic Product is the measure of the economys total production of goods and services. Rapidly growing GDP indicates an expanding economy with ample opportunity for a firm to increase sales. The Jamaican economy is heavily dependent on services which accounts for about 60% of GDP. GDP in Jamaica 2009 was reported at -2.6 % this shows that the level of production in the economy was declining compared to -1.7 % in 2008. In 2010 GDP was -0.6% this contraction was reflected in low economic demand, job losses and reduced disposable income. In 2011 however GDP increased to 1.3 % this was due to improved international economic conditions, particularly in the first half of the year. Domestic demand for goods and services, although weak, continued to improve throughout the year, it was also influenced by sustained growth in remittance inflows to Jamaica. According to the Bank of Jamaica, GDP is projected to be within the range of -0.5% to 0.5%. Inflation According to Mankiw inflation is the overall increase in price levels. Inflation may cause the value of investments to fall. Government deficit and rising cost of productive inputs are causes of inflation in Jamaica. When the governments expenditure exceeds its revenue, the government is said to be running a fiscal deficit. In order to finance this deficit, the government has the option of either borrowing from the Bank of Jamaica or borrowing from local or international financial institutions or from the general public. If the government borrows heavily from the local sources outside the Bank of Jamaica, it may lead to an increase in domestic interest rates. If the government decides to borrow funds from the Bank of Jamaica to finance its deficit, the process of printing money may have to be done. This is not a preferred option as the process usually leads to inflation because it represents an increase in money balances without a corresponding increase in the quantity of goods in th e economy, that is, more money chasing too few goods. Inflation also arises out of increases in the cost of production inputs. The price of any final good or service will depend upon the cost of the inputs used to produce that good. The more expensive the inputs are to the producer, the higher the cost of the product to the consumer. This therefore means that continued increases in the cost of productive inputs would result in continued increases in the price of the good and hence causes inflation.  [3]   According to the Bank of Jamaica the inflation rate in 2009 was 10.2 % which decreased from 16.8% in 2008. This decline was a result of the declining in prices of import commodities and an increase in productivity and output in the agricultural sector. In 2010 however inflation increased to 11.7%, this was a result of domestic weather shocks this included drought conditions and a tropical storm which affected food supplies. In 2011 inflation decreased to 6.0% this was influenced by the impact of excess supply on agricultural prices which means there was a high supply of agricultural produce. Domestic demand also was remained low during this period. Projected inflation for year the years 2012 to 2013 is estimated to range from 10% to 12 %. National Debt Debt to GDP According to Ken Chaplin in an article dated Tuesday November 15, 2011, the country is not doing well when a lot of its economic and financial activities are measured against the GDP for instance the debt. In 2008 Jamaica had a debt to GDP ratio of 128 percent. Total debt for 2010 was 128.3% of GDP compared with 129.3% of GDP in 2009. The projection for 2011/12 is 122.8% of debt to GDP and the projection for 2015/16 is 95.1 percent of debt to GDP.  [4]   Total debt stock for 2009 was $1,434,755.8 million compared with $1,570,368.30 in 2010 and a projected $1,639,502.5 in 2011. All of these figures broke the debt ceiling of l00 percent. In 2009 the domestic debt ratio to GDP was 68.4%, in 2010 66.1%, and for 2011the projection is 65%. As far as external debt is concerned, the debt to GDP ratio was 60.9% in 2009, 62.2% in 2010 and the projection for 2011is 57.7%. The government projects that by the year 2015/16 the debt to GDP ratio will be 95.1%, but this is not sufficient. In every respect the extent of the debt is a heavy burden with which the country is struggling to maintain. Industry Analysis An industry analysis is an analytical tool used to identify various attributes within an industry. In Jamaica we have many industries, and there success and growth are often dependent on a number of factors. The more common factors considered for an industry include the level and type of technology employed, type of labour force employed, government regulations and the like. The three industries identified in this research paper, are the three industries that the authors of this paper felt had a better chance to do better than all other industries during the period 2013- 2016. These industries are the financial industry, manufacturing industry and the telecommunications industry. These three industries have shown the greatest potential for sustained growth over the projected horizon. Financial Industry The finance sector is regulated by the Financial Regulations Division (FRD) this division deals with the development of the regulatory framework, which influences the operations of the countrys financial sector. Jamaicas financial sector is made up of merchant banks, commercial banks, credit unions, building societies that are license under the financial institution act. The sector also includes non-deposit taking institutions including insurance companies, development bank and securities dealers. The Bank of Jamaica Financial Stability Report for 2011, states that the general financial stability environment in 2011, although remaining stable, was dominated by higher credit risks. The credit risk conditions permeating the financial markets in 2011 were affected by domestic economic conditions pertaining to uncertainty surrounding the status of the Stand By Arrangement with the International Monetary Fund (IMF), deteriorating debt indicators, the delay of other key economic reforms and the less than favourable strength of economic recovery. It further stated that the annual change in Jamaicas gross domestic product (GDP) returned to positive growth rates at end 2011. In addition, economic activity appeared to be trending to levels recorded prior to the international financial crisis that started in 2007. Improved performance was reflected within the financial sector for 2011. Compared to 2010, profitability rose for financial institutions. Increased profits were mainly due to: activities in the banking sector which realized accelerated growth in the asset base; continued reduction in risks related to the cost of financing in 2011, despite low aggregate demand and unfavorable performance on interest bearing assets; and lower market interest rates during 2011, thus generating lower interest expense relative to 2010. Despite several risks identified for the period under review, the financial sector was adequately capitalized. Two of the major risks were the protracted uncertainty due to the status of reviews of the countrys medium term programme by the International Monetary Fund; and the evident increase in Non-Performing Loans, specifically to corporations. This industry is driven by technology, as is evident from the various machines utilized by the various financial institutions to ensure the continued operations of its business. This technology includes internet banking and telebanking facilities which allow customers to shop and pay bills from the comfort of their own home. Manufacturing Industry The manufacturing industry is comprised of any and all organizations that engage in production activities. In view of this definition, this industry would include organizations involved in food processing such as Grace Foods and Lasco Manufacturing, outdoor signage companies such as National Outdoor, furniture making companies and the like. The manufacturing industry, also known as the secondary industry, employs a lot of labour especially unskilled labour which is used to produce the wide variety of manufactured goods found within our local economy. Technology is also employed to this sector to aid in production but, the industry remains very labour intensive and is the main source of income for many within the local economy. The contributions made by the manufacturing industry as showed steady declines since 1990 at 21.3% to 8% in 2011. The importance of this industry is however underscored by the president of the Jamaica Manufacturing Association as the largest contributor to GDP of all the goods producing sector. This industry is regulated by the Jamaica Manufacturers Association, which is responsible for ensuring that companies within this industry are properly licensed to do business and also acting as an agent of the government on behalf of the stakeholders of this industry. Since the Jamaica debt exchange in 2009, businesses and individuals who formerly depended on earnings from government debentures have had to shift their focus as they desire to gain greater returns on capital. The industry has benefitted from this has some manufacturing businesses have sought to increase their capacity, and in so doing generate more income. (Edwards, 2010) The major players in this industry enjoy greater market share and economies of scale. Nevertheless the industry is not yet saturated and more and more players are entering the market with a view to earning income and gaining greater market share. There are little barriers to entry within this industry and it has become a worthwhile alternative employment for those who did not benefit from an acceptable level of secular education. In recent times the financial stability of Jamaica seems to be hinging on an IMF deal. As a result vision 2030 which is a mandate of sorts for growth in the manufacturing industry has taken on greater meaning. It is the desire of the government to see this industry expand it capacity and export more and import less. (Edwards, 2010) Telecommunications Industry In 1986 LIME then known had Cable and Wireless Jamaica enjoyed a monopoly position within the industry. This was however sanctioned by an act of parliament, and in 1999, CWJ was asked to give up their monopoly status and liberalize the market. (Country Profile Jamaica, 2007) By the end of 2005 Jamaica was described by the International Telecommunication Union (ITU) as having the highest usage of cell phones than any other country within the American region. The Jamaican mobile sector which includes companies such LIME and Digicel are credited with the extensive growth in the telecommunications industry, despite the global recession during the periods 2007-2011. According to (Business Wire, 2011) the mobile sector is poised for strong growth during the periods 2011- 2016. Factors contributing to this projected sustained growth are the 3G and 4G deployments by the mobile sector. As noted by (Country Profile. Jamaica, 2007), in 2007, Digicel was market leader with a customer base of 1.7 million Jamaicans and LIME followed with a customer base of 700,000. In the ensuing years there have been slight fluctuations, but Digicel remains as market leader. The telecoms industry in Jamaica is regulated by the Fair Trading Commission (FTC) and the Office of Utilities Regulation (OUR). The fair trading commission asses the market and ensures that as companies within this industry interacts fairness exists and that no entity is able to cause negative impacts to other players in the market. The Office of Utilities Regulation focuses on the interaction between industry players and the consumer society. At times they may set rates for service providers or approve rate increases. However, as a result of the competitive nature of this industry, there is not much if any interference from the regulator in this regard. As mentioned before there is a high level of competition within this industry with the major competitors being, LIME vs. Digicel, LIME vs. Flow, LIME vs. Digicel vs. Flow, and offcourse the list goes on. Success in this industry is however dependent on technology employed and the corporation with the greatest investment in technology is poised to see the greatest return on investments. In Depth Analysis of chosen Industry (Manufacturing) In the view of the members of this group, the manufacturing industry is positioned to do better than the other two industries assessed during the periods 2013- 2016. Our decision was drawn from past and present activities within the economy and we hypothesize that the manufacturing industry will be the leading industry at the end of the projected period. Manufacturing in Jamaica has grown from small beginnings to the well oiled machinery that now exists. In times past it was about trial and error. Bringing things to the market and hoping that sales would be made. This industry is however faced with the reality that it does not have unlimited resources for trial and error. As a result, corporations within this industry have diversified to gain greater economies of scale. Within this industry we have food processors. Leading in this area are companies such as Jamaica producers, Grace Foods, Lasco Manufacturing, Polyfoods and offcourse the list goes on. We have beverage companies such as Pepsi, Jamaica Beverage, Wysinco, Grace and still others. Not to be outdone is the industrial giant Tankweld Metals which produces all type of steel to be used in the construction industry. Time would not allow us to go into every sub sector within this vast and expanding industry. This industry benefits from various government concessions as an inducement to ensure sustained growth of the sector. In the vision 2030 that was drafted, the manufacturing industry was viewed as a critical area that the government would be looking to make investments in to ensure growth of the sector, through its manufacturing task force (vision 2030, 2009). As noted by (Country Profile Jamaica, 2005), the manufacturing industry is the second largest contributor to GDP growth. Despite this second place status on the issue of GDP growth, the industry is still growing and there are incentives available for growth which underlay the potential for it to become an industry leader during the projected period. A recent occurrence that has had a negative impact on the manufacturing industry includes the recent passing of hurricane Sandy. Hurricane Sandy has washed away crops, blown down structures and damaged parts of some factories. This has caused setbacks within the industry and may inevitably lead to increases in cost of products produced. However in times past, these situations have levelled off and normalcy returned. Similarly the effects of Sandy will be a thing of the past. Social Influences The manufacturing industry is impacted by the need of many to have employment in order to support their families. Many secondary school graduates first job is in the manufacturing industry as unskilled labourers. There they have an opportunity to learn industry relevant skills that will benefit them in later years. The Manufacturing industry however is not to be viewed as a day-care centre for the nations youth. It is in fact a very well paying industry for those who have qualified themselves in that area through skills training or tertiary learning. The success of this industry will inevitably depend on those individuals with new knowledge and innovative ideas to keep it moving forward. A very important part of the economy is growth in gross domestic product. The more developed this industry becomes, the greater will be GDP. Of special note also is the fact that the manufacturing is the single largest employer of human labour. Technology Employed Like other industries, the manufacturing industry is aware of the benefits derived from the use of technology in its operations. The use of technology in this area is complemented by human labour, the two works hand in hand. In times of long ago, the adage many hands make work light had real meaning. It took many hands to get things done at that time. In this modern economy, the usage of technology has increased capacity within the various companies within the manufacturing industry. As a consequence many have had to learn how to operate and maintain these machines in order to secure their employment within the industry. Others have left to find their place in other industries such has the service industry. It is with the aid of technology that firms within this industry can gain economies of scale. These include industry giants such as Grace Kennedy, Lascelles, Lasco and much more. Regulatory Environment In Jamaica, there are incentives to be gained from the government if the thing being produced is deemed to be in the national interest (Chen-Young). Government officials have on numerous occasions spoken about the need for Jamaicans to capitalize on the benefits that can be gained from producing more and importing less. Linked to its national policy, we are admonished to be self sufficient to the extent possible. On a more serious note we have the Bureau of Standards, This institutions sets the standards that must be met for goods that are to be used by the public (bsj.org.jm). In the case of building blocks built by Carib Cement, there is a certain level of pressure that each block should be able to withstand before it breaks. The standards set by the Bureau are in the best interest of the nation and they are not burdensome to implement. Forces Driving Competition Mr Porter identified five forces which drive competition within an industry, these are also known as Porters five forces. These are the; bargaining power of buyers, bargaining power of suppliers, threat from potential entrants, threat from substitutes of products or services, and intense competition among existing companies within an industry. Bargaining Power of Buyers As a result of the buyers knowledge of the market and the competitors thereof, the buyer is able to make demands on the business. Buyers are more sensitised to the various facets of the manufacturing industry and the many niche markets that have sprung. The buyer therefore has the option to shop around and get the best deals. Bargaining Power of Suppliers Suppliers are aware that they do not have a monopoly market on raw materials needed by companies within the manufacturing industry. As such suppliers seek to form partnerships with companies in order to secure further business. As such the bargaining power of suppliers is moderate. Threat from Potential Entrants Threat from potential entrant is low. This is because a sizable investment is needed to enter this market and not everyone can afford to set up shop and manufacture their own goods to be sold to consumers. Threat from Substitute Products There is a high level of threat from substitute products. As a result the consumer can go elsewhere if not satisfied with what is being offered for sale. This forces the company to be sensitive to the needs of consumers since there needs can be filled elsewhere which would result in a loss of revenue. Intense competition among existing companies within the industry There is intense competition within the industry, with the exception of those that operate as monopolies. In every subsector of this industry, there is intense rivalry and the consumer only stands to benefit. Those that have however established themselves within the industry see favourable returns despite the intense rivalry. These companies include Pepsi and Wysinco from the beverage sector. Company Analysis The company chosen from the industry that is believed to outperform the other two industries is Lasco Manufacturing. This company exists as a major player within the food manufacturing sector of the manufacturing industry despite being quite young when compared to its major competitors. It has as its vision, to become a global corporate leader through innovation and entrepreneurship. Lasco Manufacturing came into existence as a consequence of a decision that was made to reorganize the Lasco companies in the year 2010. The board of directors entered into and amalgamation agreement which in effect led to Lasco Foods being made responsible for its own activities the name was thereafter changed to Lasco Manufacturing. The chairman for the Lasco manufacturing company is Mr. Lascelles Chin; he is also the founder of the Lasco Affiliated Companies. A recipient of the Order of Jamaica for the work he did in the development of commerce in Jamaica. This man along with his qualified team of directors and committed staff are positioned to take this company to new heights during the projected period of 2013- 2016. Economic and Industry Influences Lasco Manufacturing, like all other business are affected by the economic climate. The countries inability to secure an IMF deal will result negatively on its operations as it relates to its importation of raw materials for its business. The countries net international reserves are getting low and this may lead to further downgrades in on Jamaica as a place for doing business and Lasco Manufacturing will be affected. The recent passage of hurricane Sandy left damages that the government is still paying some of which will remain unchanged. Many manufacturing companies including Lasco Manufacturing were affected by Sandy. Food prices are expected to rise and this company will not escape this reality if it comes to fuition. The economy has been in worst state before and was revived, the authors of this paper are confident that normality will return to Jamaica and this company will continue to thrive. There has been an influx of brands which are rival to our company under consideration. However the Lasco brand is an household name and as a result still enjoys a favourable position within the market. The company however has to maintain a strategic focus because not all consumers will be loyal to a brand and as the consuming public become more educated and aware they will make greater demand on the producers of goods and services. Structural Influences Firms Competitive Strategies SWOT Analysis A SWOT analysis is a tool used to make an assessment of the strategic position of an organization. This assessment is used as a guide to position or reposition the organization in a profitable direction, taking into consideration availability of resources. Strengths Dominates the powered milk market. Well recognized brand locally. Company is more distribution oriented; this is positive considering the high manufacturing cost in Jamaica Weaknesses Products have a stigma of being low ended. Concentration in one product type; milk powder. Low regional diversification, revenues are concentrated in Jamaica. Alliance between chairman and managing director. Opportunities Tax break from listing on the JSE for the next 10 years. Stronger profit growth to fund retooling and business expansion. Threats Though Lasco benefits from weak demand, continued weakness in the Jamaican economy could impact them. Favourable Attributes of the Firm Generally, the favourable attributes of a company look at its unique qualities or characteristic that makes it the preferred choice for its customers and it is this same uniqueness that lures its potential customers. The major qualities or characteristics that contribute to a companys favourable attributes are its competitive advantage, exceeding management styles and market leadership. Competitive advantage can be further subdivided into differentiation advantage and cost advantage. Differentiation advantage is when the company offers superior product and services at the same price in the market. In contrast, cost advantage is when the company offers the same goods and services like its competitors but for a lower price. Above average management speaks to the level of managerial approach which is used within the company and it also looks at the level of mentorship that the existing managers can provide to the next generation of managers. The attribute of market leadership gives an o verview of the overall marketing styles which the company uses to builds its reputation and thus making it a priceless entity. ( Annonymous, 2008) Now when we use the definition of favorable attribute to scan Lasco manufacturing limited it was observed that it portrays numerous qualities which contributed to its uniqueness. In the first place, it can be seen that Lascos attribute of competitive advantage exemplifies a cost differentiation style in which it offers a variety of low price products on the market. The majority of these products which they offer are a part of the food basket of the average Jamaican consumers and so they have created a guaranteed market in that spectrum. This attribute has branded Lasco products as cheap and therefore gives them a huge competitive advantage among some of the major manufactures in Jamaica such as Seprod Ltd, Nestle and Grace Kennedy

A Case for Therapeutic Massage for Chronic Neck Pain

A Case for Therapeutic Massage for Chronic Neck Pain Holly Jackson The title of the article I chose is: Five-Week Outcomes From a Dosing Trial of Therapeutic Massage for Chronic Neck Pain. It was published in the Annals of Family Medicine in the March/April issue in 2014. I chose to use this article because it relates to the chief complaint of my Wednesday client and supports massage as a viable treatment option. I recognized a need to learn more about the condition in order to be a more competent massage therapist. In the United States, chronic neck pain is a common complaint and ranks high on the list of disabilities. Individuals who suffer often seek help from qualified massage therapists. Learning the ins and outs of the neck, including muscles, tendons, ligaments and nerves is crucial for giving a quality massage. This knowledge, paired with the proper techniques, becomes an invaluable tool in the massage therapists tool belt for success, which will create lasting benefits for the client. Inconclusive results prior to this study have been a result of too many variables in the techniques and infrequency of treatments. The purpose of this study was to set a specific duration of treatment, with variance on the number of treatments received, to determine if massage therapy could help ease chronic neck pain. Study subjects had to meet a rigorous list of requirements: Adults aged 20 to 64 years with chronic nonspecific neck pain lasting at least 3 months exclud[ing] individuals whose neck pain had a pathologically identifiable cause, was complex, or was too mild, [had] potential contraindications for massage, [received] massage within the last 3 months, [and had not received] massage for neck pain within the last year. (Sherman, et al. 2014, p. 113) There were 228 participants chosen and individuals were randomly assigned to one of six groups. One of the groups was the control group where the participants were put on a wait list. Each of the groups contained 37 to 39 individuals. The study lasted 4 weeks, with final outcomes gathered in the fifth week over the phone by an individual who wasnt aware of group assignments. Besides the control group, which didnt receive massage, there were five groups with variances of massage ranging from 30 minutes 2 or 3 times a week to 60 minutes 1, 2, or 3 times a week. Each of the groups had specific parameters for the treatments, which included range of motion assessment, hands-on check-in, massage applied directly to the neck, [and] addressing compensatory patterns (Sherman, et al. 2014). The results were measured using several point systems including patient satisfaction. The investigators found convincing results from the study groups. According to the study measurements, all of the groups showed improvement except for the control group, which did not receive massage. The measurements for neck pain intensity and neck disability index (or NDI), indicated that even though the 30-minute massage groups showed improvement in the measurements of the study, the most significant results came from the 60-minute massage groups, especially those groups receiving 3 massages per week. Studies that were conducted prior to this were inconclusive in their methods and findings. The significance of these findings cannot be understated. Massage is a viable, verified method of treating chronic neck pain with considerable measures of improvement and relief of symptoms when administered with regularity. The thoroughness of this study supports the use of therapeutic massage as a complementary treatment option. The measurements taken at the onset of the study showed that most people who suffer from chronic neck pain are not satisfied with conventional treatment options. With the finding of this study supporting therapeutic massage, the impact on the massage industry has the potential to grow exponentially. Massage has much more to offer than just feeling great, it has the ability to relieve symptoms and improve quality of life. I believe this is a perfect prescription for repeat business with satisfied clients. References Sherman, K., Cook, A., Wellman, R., Hawkes, R., Kahn, J., Deyo, R., Cherkin, D. (2014). Five-Week Outcomes From a Dosing Trial of Therapeutic Massage for Chronic Neck Pain. Annals of Family Medicine, 12(2), 112-120. doi:10.1370/afm.1602

Anthony Whiteside :: Business and Management Studies

Human resources The human resources are expected to look around and see what jobs need to be done, make sure the company is being advertised and they also deal with applications. They also choose who would be the best to employ by setting tasks for the employees. They make sure that all the staffs have got the appropriate training needed for the job. They talk to employees about wages and the employees have to agree. They make sure the staffs understand what they have to do and encourage them to work harder. Finance The finance area watches how much money goes out and how much money comes in they make sure the company don’t over spend * The finance area is responsible for all the financial documents and the amount spent they also have to understand how the documents work and were they go. * What ever the finance area say the company have to trust them and do what they say. * They have got the task to pay the wages of the staff and making sure there is enough money to pay them. * The finance area is in charge of the loans and bank amount if a firm has borrowed money of the bank to start up a business it would be their job to make sure that it got paid when ever it needs to be paid and their job is to make sure the company doesn’t go into bankruptcy. * The finance area will inform the business when they are spending more money than their making so the firm would close. Operations/production The operations department needs inputs which are then processed to produce an output, this is a product. The overall function of this department is to over see and organise the whole production process. The production department will make decisions including * They decide what materials will be needed. * Where to get the raw materials from and how they are transported. * They decide the amount off raw materials needed. * They also decide how the materials are delivered. * They decide what new equipment will be needed. * How many workers will be needed to carry out the program. * What skills the workers will need. * They are in charge of how the production will be carried out. * How the product will be packaged. * How many products will be produced and how long it should take. Anthony Whiteside Customer service A business will not be able to run if they don’t have customers to buy

The Twenties And Thirties :: essays research papers

  Ã‚  Ã‚  Ã‚  Ã‚  The twenties and the thirties were very unusual time periods in American History. In some ways they are alike, but in most ways they are very different. The twenties were a time of fun and partying. This is probably the reason it is called the Roaring Twenties. All of the thirties were known as The Great Depression. It was probably called that because of the stock market collapse and the millions of people without jobs.   Ã‚  Ã‚  Ã‚  Ã‚  In the twenties, industry took a very big step. The automotive industry was the largest industry there was. The assembly line made mass production possible, and the industry boomed. Henry Ford’s assembly line, located in Detroit, Michigan, was the largest one in the country and possibly in the world. When Ford first started making cars, the only car he made was a black Model-T. Almost everybody in the United States had a car. Three-out-of-four families owned one or more cars. With the assembly line they made a lot more cars in one day than they did before. Instead of paying for the cars with cash, people could now use credit to purchase items. Since most families didn’t have the money, they would buy the car with credit and pay off the debt later.   Ã‚  Ã‚  Ã‚  Ã‚  The thirties was a bad time for the automotive industry. By now Ford had made a Model-A and had three new colors: tan, purple and black. All of the companies were making more cars than they could sell. Nobody had enough money to buy a car because of all of the banks going under. Millions of people lost whole fortunes. Since no one had the money for a car, the cars were not being sold. This caused a big problem. The dealers were very optimistic. They continued to make cars hoping that sales would go up.   Ã‚  Ã‚  Ã‚  Ã‚  The new credit law was a wonderful idea. It allowed people to purchase items like a television or radio. The invention of the radio united the nation. The news that was heard on the radio was heard by everyone that had a radio. It was the best form of entertainment of its time. Soon thereafter, the television was invented. Once again people took advantage of the credit and purchased televisions. The television still did not take place of the radio. The radio was still used for listening to music. Many people were spending more money than they had.   Ã‚  Ã‚  Ã‚  Ã‚  Even in the thirties the radio and television were top forms of entertainment. Although, some people did not have these accessories, they could still go the movies if they had the money. In the thirties, everyone watched a lot of television and listened to the radio. In contrast to the twenties, the thirties were very

A comparison of Haydn and Beethoven Essay

Franz Josef Haydn and Ludwig van Beethoven are two of the greatest classical composers in the history of music, rivaled only by the masterful Wolfgang Amadeus Mozart. Beethoven, who was much younger than Haydn, moved to Vienna when he was young to study under Haydn. However, due to Haydn’s increasing age, and Beethoven’s increasing temper, the lessons only lasted for a little over a year. The lessons, if only for a short period, clearly left a mark on Beethoven, as can be seen in his compositions. Make no mistake, however, Haydn and Beethoven were not carbon copies of one another. When comparing compositions of the two composers, namely Haydn’s symphony No. 95 in C minor and Beethoven’s symphony No. 5, the two composers differ in various areas, including form, theme, tonality, orchestral structure, and the overall effect their work had on the audience. The only way to truly understand the similarities of these two legendary composers is to delve into their music, comparing them movement-by-movement of the two aforementioned pieces. Only then will we truly understand what makes Haydn and Beethoven so similar, yet so different. The first movement of both pieces start out in their own special way. Haydn’s piece starts out loudly with a quick timpani strike accompanied by the strings, followed by an almost somber sounding melody in C-minor. The second theme of Haydn’s first movement is much more cheerful sounding as it is in C-major. After the exposition is finished, Haydn goes through an eventful developmental period followed by recapitulation. Beethoven’s first movement starts out with the infamous short-short-short-long, which is then repeated. This becomes the motive of Beethoven’s piece, which can found intertwined throughout the entire piece. The intertwining of this single motive creates a consistency throughout the entire symphony; making all four movements feel as one. Although Beethoven may have not intentionally tried to do this, as it was never really done before, it really gives the symphony a special sound as a whole, something that Haydn’s symphony no. 95 lacked. Beethoven’s first movement is sonata form, something that he inherited from Haydn, and starts out in C-minor, just as symphony no. 95 does. The first theme of Symphony no. 5 is made up of imitations and sequences of those first 4 bars, which give off a tense, conflicted feel. The second theme ofBeethoven’s first movement is much more lyrical than the first theme. Here Beethoven completely changes keys to E-flat, rather than simply switching to a major tonality like Haydn does. In the second movement, however, Haydn starts out in E-flat major. The second movement, as per usual, is a much slower piece to contrast the strong, fast, first piece. Haydn uses a series of variations in this movement to keep the audience attentive, switching between major and minor tonalities from time to time. The amount of variation in this second movement is extensive, and really adds a lot to the movement. Beethoven’s second movement is in A-flat major and opens with two themes being presented, which are then varied in alternations. The second theme of this movement incorporates a harmony that features the clarinets, which are present due to Beethoven’s expansion of the orchestra over Haydn. Other instruments that Beethoven uses that Haydn does not in these symphonies are the piccolo, contrabassoon, and trumpets. By expanding his orchestra, Beethoven is able to create a larger, more diverse sound than Haydn is able to do. Beethoven’s second movement includes a 3rd theme that has thirty-second notes played by the strings with a counter phrase being played in the winds simultaneously, and the movement ends loudly in fortissimo, with many crescendos. Although these two composers first movements were somewhat similar in form and style, it is clear in the second movement that were starting to see the similarities morph into differences between the two composers, which continues into the third movement. Haydn’s third movement follows the prototypical minuet, trio, minuet form. However, this is a stylized dance piece, rather than an actual dance piece due to Haydn throwing in little twists that would throw off any attempted ballroom dance. The minuet returns to the original tonality of C-minor, while the trio switches to C-major. The trio form consists completely of even eighth notes played by a solo cello, which Haydn included to satisfy his audience in London. Beethoven does something very different in his third movement, as he forgoes the typical minuet-trio-minuet form for the scherzo-trio-scherzo form. Scherzo, which translates to â€Å"joke† in Italian, is derived from the minuet. The main difference is that scherzo form is played much more playfully and somewhat humorously, like a joke. Beethoven, like Haydn, returns to the starting tonality of C-minor for this movement. At the end, the short-short-short-long motive from the beginning of the symphony returns, and begins to take over the piece as it moves directly into the fourth movement without any hesitation. The fourth movements of these two symphonies also differ in form, as Haydn chooses to go with a rondo form while Beethoven chooses a variation of the sonata form. Haydn’s rondo form allows the music to transition beautifully into the finale. Haydn’s finale consists of loud, furious music including brass fanfares that is starkly different than a normal classical finale. Beethoven’s fourth movement is a fast, unusual sonata that begins immediately following the third movement. His finale is played in C-major, and consists of 29 bars of chords played in fortissimo. These chords allow Beethoven to conclude the symphony by ending the tension that has been furiously building throughout the entire piece. Beethoven’s incredible finale, as with Haydn’s, are perfect endings to these two monumental symphonies that surely leave a lasting effect on their respective audiences. As can be seen throughout Haydn’s symphony no. 95 and Beethoven’s symphony no. 5, the two composers were very similar, yet very different from one another. Beethoven uses a lot of what he learned from his time with Haydn, but is able to expand on those ideals and create something of his own being. His ideals, however, are soundly built off of the foundations that Haydn paved for him, which is a benefit from being the student rather than the teacher. Even through all of the differences in the two symphonies, such as Beethoven’s expansion of his orchestra or Haydn’s refusal to stray form minuet form in the third movement, these two composers share one main thing in common, and that is their ability to create beautiful pieces of art that won’t be soon forgotten in the minds, and the hearts, of their listeners.

Cultural Differences Essay

Dear Vice President of Production, Mark Jones, a Production Manager, has been transferred from the manufacturing plant in his hometown of Chicago to his company’s overseas manufacturing plant in Osaka, Japan and I am writing to let you know the differences that Mark will experience in managing front-line plant workers in Japan in contrast to in the United States and also address how cultural differences may play a role in individual differences Mark will experience. Three differences that Mark may experience are: * Language Barriers * Technology * Politics In the United States individuals tend to speak loudly and are more assertive or aggressive when addressing workers or giving direction. Individuals in Japan speak softly and are generally more passive. With language barriers making a conscious effort to be considerate of others can aid in effective communication in the business setting. The increase of conduct business with each other is due to globalization. Technology aids people to connect one another much easier, however it may be easy for most but there are individuals that are completely lost when it comes to technology. Another thing to consider is the time zone differences. Yes you may be able to video chat with someone in Japan they are not in the same time zone as you are, so ensuring to conduct whatever form of communication you choose is considerate of the time difference. The way a company conducts business can be affected by political influences. Some cultures pose a strong sense of government pride, and nationalism. Other cultures tend to negotiate with companies that have minimum conflict with their culture. I believe with our help Mark can move overseas with minimum transition problems. I suggest these three things that could stand to aid Mark make the transition as smooth as possible. It is important that Mark researches the Japanese cultural. I recommended this because knowing what to expect can give him a head start so that he can address any possible doubts or concerns that might arise with the font line workers. Mark should be clear and careful in communicating with the workers. Due to the language barrier that already exists Mark has to be extremely careful when communicating to ensure the workers understand what he is asking or telling them to do. Finally Mark should regularly check with his employees to ensure they have what is needed for them to do their job as well as how things are going for them. Mark would also want to aid his employees in the transition as well. Not only doe’s transition problems affect Mark they affect the works as well.

Student Service Enterprise Inventory System

STUDENT SERVICE ENTERPRISE INVENTORY SYSTEM A Concept Paper Presented to The Faculty of the College of Computer Studies Central Philippine University Jaro, Iloilo City, Philippines In partial fulfilment Of the Requirements in CS318 – Research Methods in IT By JanelynGrasparil BSIT – 4 July, 2012 CHAPTER 1 INTRODUCTION Overview of the Current State of Technology With the power of technology nowadays, people get interested with computers. They tried to indulge themselves on it to have a productive result in a more efficient and time saving process.It is highly valued in institutions like business enterprises, schools, hospitals, government and non government services. However, some of them are still using manual system. In this regard, we acknowledge the value of computerized system. CPU Student Service Enterprise is a store inside the campus where students, faculty, and staffs can buy goods, books, school supplies, P. E & school uniforms, etc. Each department’s ar e also purchasing supplies for their offices. One of the problems of SSE is the manual Inventory System. The manual system is not accurate and time consuming. Quarterly, SSE is conducting their inventory.When the inventory date is near work students and staffs are listing all the goods or items that are available in yellow paper. The paper contains the quantity, unit, description, and unit price of an item. In the proper date of inventory, work students manually count the goods or items. After counting all the available items, work students will put the unit price of each item. Finding the prices is time consuming. It takes two to three weeks to finish pricing those items. Prices of the items are all in the journal book. But some of the old stocks items are hard to find their prices.After pricing all the items, the book keeper will encode that in Excel. After that, she will print it out and forward to the VPFE. Overview of the Desired State of Technology I would like to propose a co mputerized inventory system to be installed at the CPU Student Service Enterprise, a formal computerized approach to inventory storing. The system provides the user with fast, accurate data handling and retrieving. It makes adjustments for possible problems prior to their occurrence, as opposed to traditional control systems which looked at more historical demand and reacted to existing problems.Furthermore, it directly serves as the system for CPU Student Service Enterprise. This system will help keep personnel from wasting their time counting supplies and trying to manually determine which products to buy and sell. The system also includes tracking of remaining inventory, tracking when new orders should be made, tracking which items are most popular and something to help the business decide what items are most profitable and which products to remove. They could also compare the inventory available at each customer to their corresponding needs.Data on these transactions are very im portant in determining the availability of details on the products in needs of reviewing. Statement of the Problem These are the following problems encountered by CPU Student Service Enterprise: * The manual process consumes too much time for the work students and staff and rigid time to process a transaction. * Inaccurate daily updating, recording, and monitoring of inventory of productsthat goes in and out due to human errors in the manual system. * Time consuming retrieval due to manual search from numerous files. The availability of the product is difficult to identify due to lack of information regarding on files that are outdated. * Slow and inaccurate resulting to problems like lost of items and unable to track the prices of an item. Objectives of the Study General Objective: * This study aims to solve the problems encountered and to change the Manual Inventory System and develop a Computerized Inventory System for CPU Student Service Enterprise. Specific Objectives: * To hav e an accurate inventory of stocks by providing the system an interactive GUI that capable of performing and handling accurate filling. To speed up the process of searching the data from the files. * To have a back up of data by creating a copy of database. * To ease process of monitoring the inventory of products by providing the system a normalized database system for storing all updated details on the inventory. Theoretical Framework Fast, Accurate, Reliable CPU – SSE INVENTORY SYSTEM Inefficient, Slow Processing, Unorganized, Inaccurate Systems Theory Figure 1. 0 Theoretical Framework based on Systems theory Theoretical Framework The figure above shows the elements needed in the development of SSE Inventory System.It is a system that stores data of the products or an item. Significantly, the manual processes are replaced by a computerized one which utilizes data from the book storage of inventory, with the computerized inventory system, the user can easily review and monit or the current status of the products or an item, in which the overall processes are hastened using this system. System theory Systems theory  is the  interdisciplinary  study of  systems  in general, with the goal of elucidating principles that can be applied to all types of systems at all nesting levels in all fields of research.System theory is the transdisciplinary study of the abstract organization of phenomena, Independent of their substance, type, or spatial or temporal scale of existence. It investigates both the principles common to all complex entities, and the (usually mathematical) models which can be used to describe them. (http://www. utwente. nl/cw/theorieenoverzicht/Theory%20clusters/Communication%20Processes/System_Theory. doc/) Inventory system Keeping an inventory (stock of goods) for future sale or use is common in business.In order to meet demand on time, companies must keep on hand a stock of goods that is awaiting sale. The purpose of inventory theor y is to determine rules that management can use to minimize the costs associated with maintaining inventory and meeting customer demand. Inventory is studied in order to help companies save large amounts of money. (http://www. whitman. edu/mathematics/SeniorProjectArchive/2006/zapponj2. pdf Conceptual Framework SECURITY INVENTORY MANAGEMENT DATABASE MANAGEMENT SYSTEM Figure 2. 0 Conceptual Framework Conceptual frameworkThe figure above conveys the concept that composes a system. These concepts serve as the main basis of ideas on how the researchers derived and created the system design and functionalities. DBMS A database management system (DBMS) is computer software designed for the purpose of managing databases based on a variety of data models. It is a complex set of software programs that controls the organization, storage, management, and retrieval of data in a database. DBMS are categorized according to their data structures or types. Inventory ManagementInventory management i s primarily about specifying the size and placement of stocked goods. The scope of inventory management also concerns the fine lines between replenishment lead time, carrying costs of inventory, asset management, inventory forecasting, inventory valuation, inventory visibility, future inventory price forecasting, physical inventory, available physical space for inventory, quality management, replenishment, returns and defective goods and demand forecasting. (http://www. inventorymanagement. com/2007/07/inventory-management-definition. html)This will track down the stocks of materials if it’s available or not, ready to be used and if need to be ordered. Through the database, the inventory log will be used as bases of the stocks if which product is the most demand by the customer. Through this management can decide whether in what product they should focus to meet customer’s needs and expectation. Security Method of protecting information, computer programs, and other co mputer system assets which is the security of computer assets and capital equipment refers to computer location, access control, software protection, and storage procedures.The objective of computer security includes protection of information and property from theft, corruption, or natural disaster, while allowing the information and property to remain accessible and productive to its intended users. (www. answers. com/topic/computer-security) Data and information will be secured, especially with stock in and out of materials. This will avoid any unauthorized transaction. A username and password will be provided to track the person who will stock out and stock in a material. UsersEntity that has authority to use an application, equipment, facility, process, or system, or one who consumes or employs a good or service to obtain a benefit or to solve a problem, and who may or may not be the actual purchaser of the item. (http://www. businessdictionary. com/definition/user. html) User w ill feel all the complexity of the system, easy to use with a user friendly interface that will let user easily understand the flow of the system Scope and limitations of the study The Computerized Inventory System is intended only for CPU Student Enterprise.This study mainly focused on providing business application using computerized system that enables business to track services and aims to provide accurate and reliable process on every transaction. This study looks into a better impact of using technology today on how it affects our daily lives especially for being a customer. With these studies it can help the beneficiaries to know the differences of using manual system to a computerized generation today. An inventory system is a system used to keep track of a business products and supplies.These programs are invaluable tools for most businesses because they are able to complete tasks quickly that would take much longer if done manually. Only the administrator has the privilege to use the computerized reservation system. It also excludes maintenance and other transactions according to the system. Significance of the Study The study will be of great use to the customers and workers of CPU Student Service Enterprise. The study, through its output, can assist the SSE in accomplishing tasks in a shorter period of time. Aside from this, the proposed system has a storage system for data retrieval of previous inventories.The proposed system utilizes the best way to organize the database type of system and to improve the services of the people involve. Moreover, the computerized system will guide the management in deciding matter involving assigning process. Manager will be informed on transaction through print out reports. Thus, the VPFE can manage well its finances and more likely to have savings with the proposed system. They can also expect that computer units built within the company have basis fact with the use of the propose system. Putting up good facilit ies can ease or minimize stress experience by the staff and work students. Chapter IIREVIEW OF RELATED LITERATURE AND STUDIES Inventory control system A process for keeping track of objects or materials. In common usage, the term may also refer to just the software components. Modern inventory control systems rely upon barcodes, and potentially RFID tags, to provide automatic identification of inventory objects. In an academic study performed at Wal-Mart, RFID reduced Out of Stocks by 30 percent for products selling between 0. 1 and 15 units a day. Inventory objects could include any kind of physical asset: merchandise, consumables, fixed assets, circulating tools, library books, or capital equipment.To record an inventory transaction, the system uses a barcode scanner or RFID reader to automatically identify the inventory object, and then collects additional information from the operators via fixed terminals (workstations), or mobile computers. Applications An inventory control sys tem may be used to automate a sales order fulfilment process. Such a system contains a list of order to be filled, and then prompts workers to pick the necessary items, and provides them with packaging and shipping information. Inventory system also manages in and outwards material of hardware.Real-time inventory control systems use wireless, mobile terminals to record inventory transactions at the moment they occur. A wireless LAN transmits the transaction information to a central database. http://en. wikipedia. org/wiki/Inventory_control_system Golden Inventory System Golden Inventory System is an advanced inventory software designed for wholesale and manufacture businesses. This system has several advantages, including the Return Merchandise Authorization function, hierarchical groups for products, import and export functions for QuickBooks 2010, PDF and XML files, multi- urrencies and expiration dates features. This inventory software has the flexible security function. You can define access rights for each your employee. Golden Inventory system works with MS SQL Server and MS Access database files. Now, our system calculates item costs using FIFO and Average methods. You'll be able to create orders and invoices very fast and send them via email to your customers. This is very flexible software with a lot of options. This inventory software can handle more than 100'000 items. You can install free MS SQL Server Express Edition on your server andGolden Inventory software on your computers and you'll obtain a very powerful network inventory system for any size business. www. executivpro. com/ Just-in-time (JIT) is an inventory strategy that strives to improve a business's return on investment by reducing in-process inventory and associated carrying costs. Just In Time production method is also called the Toyota Production System. To meet JIT objectives, the process relies on signals or Kanban, between different points in the process, which tell production whe n to make the next part.Kanban are usually ‘tickets' but can be simple visual signals, such as the presence or absence of a part on a shelf. Implemented correctly, JIT can improve a manufacturing organization's return on investment, quality, and efficiency. Quick notice that stock depletion requires personnel to order new stock is critical to the inventory reduction at the center of JIT. This saves warehouse space and costs. However, the complete mechanism for making this work is often misunderstood. (en. wikipedia. org/wiki/Just-in-time_(business) Inventory ValuationDetermination of inventory cost is the major aspect of financial reporting. Whether the periodic or the perpetual system is used, it is necessary to use a specific method for the assignment of costs to the ending inventory as well as to the cost of goods sold. Assignment of costs can be complex because goods are usually purchased at different costs during the accounting period. Thus, there must be a consistent pro cedure in assigning costs which is called the cost-flow assumption (Eisen, 2007). There are three cost-flow assumptions that can be used: First-In, First-Out (FIFO) Method.This is based on the assumption that the first units brought are the first units sold. The oldest cost assigned to the inventory is the cost assigned to the goods first sold. Consequently, the most recent cost is assigned to the ending inventory. Although business organizations are free to choose among a number of inventory methods, many adopt FIFO simply because there is a tendency to dispose of goods in the order of their acquisition (Eisen, 2007). This method, though not as accurate as specifically identifying the item being sold, would give a close approximation of value.Last-In, Last-Out (LIFO) Method. This method assumes that the most recent cost of goods acquired should be charged at the most recent sales made. Thus, the assignment of the cost to the ending inventory represents the cost of all earlier purch ases, without regard to the order in which the goods are actually sold, since it is assumed that the goods are all the same and readily interchangeable(Eisen, 2007). Weighted Average Cost Method. This method yields a cost that is representative of the cost of the product over the entire accounting period. The weighted verage cost of a unit of inventory is determined and all units are assigned this cost. The average cost is weighted by the number of units purchased at each cost (Carroll, 2006 Eisen further notes that in accounting periods where costs remain relatively constant, the FIFO method is probably the most appropriate. If it is important that replacement costsrelate as closely as possible to the cost of the goods sold, the LIFO method is better. The weighted average method is a third option, even though it does not necessarily bring about the matching of costs and revenue. Its simplicity may have a ost-saving effect. Summary Every business big or small, is in need of inventor y system for keeping tracks of records and specifically storing essential data in which could be reviewed and monitored by the manager. There are many ways and approaches to the inventory strategy. Inventory system is the heart of the business. The main advantage of the system that I will be going to develop is it will provide a computer generated output of the inventory a whole lot faster and accurate. Chapter III METHODOLOGY OF THE STUDY Figure 3. 0 Modified Iterative Waterfall Model ( www. nfolab. stanford. edu) In the development of the system, the researchers followed the phases of a Waterfall Method with the combination of an Iterative Model. The model is illustrated in figure 3. System Analysis The first phase that the researchers undertake is the system analysis which includes initial investigation and data gathering to prove the viability of the system. An interview (which is an interactive tool) with the management and employees of the organization was also conducted and a t the same time the group observed how their transactions work.It is also in this phase where the group observed and interacted with the users to further understand what information users need to perform their jobs. It is in this phase wherein other forms of interactive tools were used such as observation of the users involved and the organization’s environment. Requirement Definition In the requirement definition phase includes the definition of problems, objectives and estimation of scopes and limitations after the gathered data was summarized. During this phase wherein the researchers identified the information requirements for particular users involved.As an output the group had a deeper understanding of how the business function and have the complete information of the people, goals, data, and procedures involved. Interactive tools are used to accomplish tasks in this phase, observation and interviewing the people involved. System Design System analysis leads to design d ecision, which exactly determines how the system operates in terms of process, data, hardware, network infrastructures, user Interface and other important factors in the system environment. System DevelopmentIn this stage where the coding phases will start. Application software will be used in the development of the system. It is in this phase includes the programming of the system such as coding and program testing and to add more to that this phase also comprises the development or implementation of the system design. Microsoft Visual Basic 6. 0 is used as the development tool for the front end and MySQL Server 5. 0 as the back end. Photoshop and Corel Draw serve as an enhancement tool for the GUI and with the Corel Draw it.In this phase a constant interaction with the users is done to gather comments/feedbacks, validation and suggestions of the system design and layouts. Testing and Maintenance The testing and maintenance stage includes the preliminary implementation of the syste m together with the users and programmers using sample data or accurate data of the current system. A series of test is undergone to pinpoint neglected or unseen problems of the system before it will be handed down to the organization for operational implementation. The system documentation begins in this phase.The system manual or documentation includes all the necessary information that will guide the users about the systems functionality. System Implementation This is probably the most resource, cost and time-consuming phase of all. This is when the system is actually built, tested, and finally installed. It also includes activities such as user training and system maintenance. Some experts like to separate them into different phases Deploymentand Maintenance. However the four phases are the most commonly known and accepted steps. Gantt ChartPHASE| Activities| Mar| Apr| May| Jun| July| ExpectedOutput| Planning| Understanding why the system should be built| | | | | | Give the best solution and easy access to the system| Requirements| Adjustment and changes from the users to the system being developed| | | | | | Well Developed System| Design| Architecture design of the System| | | | | | Should be user friendly| Implementation| The system is actually built| | | | | | Ensured and well runned system| Test| The System Is Being Tested| | | | | | Completely functioning | Maintenance| Undergo Some Changes| | | | | | System Run Successfully| References Internet Sources (http://www. twente. nl/cw/theorieenoverzicht/Theory%20clusters/Communication%20Processes/System_Theory. doc/ (http://www. whitman. edu/mathematics/SeniorProjectArchive/2006/zapponj2. pdf (http://www. inventorymanagement. com/2007/07/inventory-management-definition. html (http://www. answers. com/topic/computer-security) (http://www. businessdictionary. com/definition/user. html) http://en. wikipedia. org/wiki/Inventory_control_system http://www. executivpro. com/ (http://en. wikipedia. org/wiki/Just-i n-time_(business) ( www. infolab. stanford. edu What Is an Inventory System? | eHow. com  http://www. ehow. com/facts_5518826_inventory-system. tml#ixzz21dQmNn9Z What Is an Inventory System? | eHow. com  http://www. ehow. com/facts_5518826_inventory-system. html#ixzz21dR2Cuo 8 http://www. studymode. com/essays/Inventory-System-634220. html? topic http://sample-thesis. blogspot. com/2009/09/enhancement-of-pharmact-inventory. html http://en. wikipedia. org/wiki/Systems_theory Context Diagram of the Current System Staff/Work Student Book Keeper Manual Inventory System Record Record Counts items Item info Printed Inventory record VPFEData Flow Diagram Level 0 of the Current System Staff/Work Student Record Counts Item 2. 0 Counting and Classifying Of Items 1. 0 Record Item Info Record Item Info 3. 0 Determines Price List VPFE D1 Item_Journal Printed Record Recorded Item Info 5. 0 Print Inventory Record 4. 0 Encode Items in Excel Book Keeper Record Item List Recorded In Excel Item I nfo Context Diagram of the Proposed System D1Item_DBMS Item Info SSE Computerized Inventory System Book Keeper Staff/Work StudentUsername Inventory Password Records Printed Inventory Records VPFE Data Flow Diagram Level 0 of the Proposed System 1. 0 Encode Item Info 2. 0 Calculate all Item Prices Staff/Work Student Username Item List Password Item Info Calculated Price List Price List D1 Item_DBMS Book Keeper Inventory 4. 0 Print Inventory Records 3. 0 Check Inventory Records VPFE Printed Check Inventory Inventory RecordsRecords