Sunday, January 26, 2020
Efficiency of photovoltaic cells
Efficiency of photovoltaic cells This years Nobel Prize has been awarded to an American physicist and chemist whose work paved the way to built efficient and low-cost polymer photovoltaic cells. Professor A. J. Heeger of University of California at Santa Barbara, US received the prestigious Nobel Prize for his research on polymer photovoltaic solar cells over the past two decades. In 1995 Heeger published a paper (science 270 1789), in which he proposed a new approach to fabricate photovoltaic devices, which led to the development of efficient solar cells. This enabled to fabricate renewable, sustainable, and recyclable, low cost photovoltaic devices which are used to convert light energy into electric current. This approach is enhanced and widely used in commercial applications to produce flexible organic solar cells. The increasing demand for energy has created a need for low cost and eco-friendly energy source. Solar power, which is a renewable energy source holds good for producing energy at low cost. Breakthrough Efficiency of Photovoltaic cells depends on the energy conversion and charge collection of the device, which are high in inorganic based photovoltaic device, however organic photovoltaic devices have major advantages over inorganic photovoltaic devices i.e., low-cost fabrication, mechanical flexibility and disposability. This led many researches to focus on polymer photovoltaic cells, hence several approaches have been proposed for fabricating photovoltaic cells like mono and bilayered organic solar cells by using photo induced electron transfer in composites of conducting polymers as donors(D) and Buckminsterfullerene and its derivatives as acceptors(A). However the conversion efficiency is limited by the carrier collection efficiency at the D-A interface. A major breakthrough in the field of organic photovoltaic cells is achieved by overcoming the limitation of the efficiency in the bilayer heterojunction, which is proposed by Heeger. A high interfacial area is achieved within a bu lk material by carefully controlling the morphology of the phase separation into an interpenetrating bicontinuous D-A network, which yields efficient photo induced charge separation, this obtained interfacial area is known as Bulk D-A heterojunction. Even though the bulk heterojunction is previously proposed by Hiramoto et al, [J. Appl. Phys. 72, 3781, 1992] but the fabrication of solar cells is far more difficult than that of Heeger approach. Heeger used composite film of poly (2-methoxy-5-(2-ethyl-hexyloxy)-1, 4-phenylene vinylene) (MEH-PPV) and soluble derivatives of buckminsterfullerene namely [6,6]PCBM and [5,6]PCBM to form a polymer blend. To overcome the limited solubility of C60, a series of soluble C60 derivatives are used, this concept of soluble C60 derivatives enabled to realize new device concept. The structure of bulk heterojunction consists of metal electrode contacts (Ca or Al) of different work function to optimise the efficiency of carrier collection of holes from donor phase and electrons from acceptor phase. Indium tin oxide (ITO) is used as anode and Ca or Al is used as anode which automatically extracts electrons and holes from the polymer blend. The performance of bulk heterojunction photovoltaic cells depends on the phase separation in polymer blend devices; so much of the research is concentrated on the precise control of the phase separation. The film formation has to be very fast, in order to obtain fine structures i.e., Phase separation has to be arrested earlier, which results in smaller domains than exciton diffusion length. This can be achieved [Adv. Mater. 12, 498, 2000] by spin coating on a heated substrate, so that the solvent evaporates faster. The quantum efficiency (percentage of photos hitting the photo reactive surface that will produce electron-hole pair) of up to 2.9% is achieved by Heeger, which is further enhanced by using different low molecular weight materials [Adv. Mater. 12, 1270, 2000]. Quantum efficiency can be improved up to 10% by using different materials. Evolution A wide range of research is carried out based on bulk heterojunction approach, which resulted in efficient photovoltaic cells; however organic solar cells degrade when exposed to ultraviolet light, which effects the life time of the cells. Energy conversion efficiency is also low when compared to its inorganic counterparts. Fig 1 shows the efficiency achieved by different research groups in the last decade. 7.9% efficiency is achieved by Solarmer Company, which is certified by National renewable energy laboratory (NREL). Whereas Heeger achieved a quantum efficiency of 2.9%, this indicates a rapid development in this field over a decade. Solarmer produce photovoltaic commercial products using bulk heterojunction approach. Another company named Konarka which is founded by Heeger also manufactures plastic electronics and solar cells with bulk heterojunction. Konarka offer conventional products like sensors, portable battery charging for PDA, mobiles and other small devices, microelectronics, portable power, remote power, building integrated photovoltaic. Plextronics is another company developing and selling pre-formulated inks as well as the know-how to print them, which are extensively tested for outdoor lifetime. Device using these products have high lifetimes of the order of years. However the efficiency of polymer photovoltaic cells is low when compared to the silicon based photovoltaic devices. In order to compete with other available technologies, the efficiency of polymer photovoltaic cells should be increased to 15% with a lifetime of 15-20 years [Solar energy, 2009, 1224]. Heeger made a significant contribution to polymer solar cells field by proposing the bulk Heterojunction approach, which has many potential applications in renewable energy.
Saturday, January 18, 2020
Hitler’s Rise To Power: An Inevitable Offshoot of the Great Depression in Germany
The Great Depression caused by the Stock Market's collapse in 1929 affected the American economy like no other economic crisis in its history (Samuelson, n. d. ). Being the most severe depression experienced by the industrialized Western world (Nelson, n. d. ), its effects rippled to other economies, especially to that of Germany. The German economy was notably vulnerable because it was built out of foreign capital and was dependent on foreign trade (Gavin, 1996). The Depression abruptly restructured German society and thus, led people to seek any solution to end the crisis. Hitler proved to be the solution that Germany was looking for. Although his views were unpopular among the public, he took advantage of the hopelessness which the people felt during the Depression. Moreover, other factors that were already present in the 1920s sped his rise to popularity. Some of these were: long term bitterness among the people brought about by the Treaty of Versailles and the First World War; ineffective constitution; money for Hitler's campaign and propaganda; the existence of propaganda and programmes; Stormtrooper attacks on other parties and on Hitler's detractors as well as his personal atributes. After 1929, two other influential factors aided Hitler and ensured his success politically: the Great Depression and Hitler's recruitment by Hindenburg (Clare, 2006). Hitler's rise to power was successful and yet avoidable. His success was largely due from external factors which he exploited using duress, brilliance and propaganda (Clare, 2006). Indeed, if the Depression had not happened; chances are, there would have been no Hitler. References Clare, John. (2006). How Was Hitler Able To Become Chancellor in January 1933? à à à à à à à Greenfield History Site.à Retrieved December 11, 2007 from à http://www.johndclare.net/Weimar7.htm Gavin, Philip. (1996). The Rise of Adolf Hitler: Great Depression Begins. History Place Site. à à à Retrieved December 11, 2007 from à à à à à à à à à à à http://www.historyplace.com/worldwar2/riseofhitler/begins.htm Nelson, Cary. (n. d.). About the Great Depression. Modern American Poetry Site. Retrieved à à à à à December 11, 2007 from http://www.english.uiuc.edu/maps/depression/about.htm Samuelson, Robert. (n. d.). Great Depression. The Concise Encyclopedia of Economics. Library of Economics and Liberty Site. Retrieved December 11, 2007 from à à à http://econlib.org/library/Enc/GreatDepression.html
Thursday, January 9, 2020
Get the Scoop on Essay Topics on Evolution Before Youre Too Late
Get the Scoop on Essay Topics on Evolution Before You're Too Late Type of Essay Topics on Evolution An individual may have the psychological advantages of religion because it acts as a cohesive family. Then, he shows curiosity to secure more info about things happening in the court. Therefore it's immoral to have sexual relations with a girl who might become your daughter. Maybe I got the entire thing wrong, perhaps we can evolve too as a group. Among the most potent arguments for evolution is, naturally, DNA. The evolutionary theory is among the most frequently debated scientific theories. It isn't hard to argue for evolution. In my opinion, evolution has become the most probable theory considering what evidence was found. However, you may again turn to fossils for aid. It's predicated on the notion that better adapted organisms are somewhat more likely to reside on and produce offspring. Because of their random nature, if any 2 species share the very same ERV in the exact same location with the exact same inactivating mutations, they almost certainly share a frequent ancestor where the ERV initially occurred. Things You Won't Like About Essay Topics on Evolution and Things You Will Clearly, religion played a big part in the growth of American Literature. Like every argumentative essay it's essential that you understand your subject issue. If you're looking for a nice and intriguing subject, you've got to refer to the bit of advice on choosing the topic for your evolution essays. As you are discussing creation science, you're going to be held to a greater standard, and you need to be certain to represent Christ in excellence. It's known as the unifying area of biology, and schools teach it like a foundational tenant. To begin with, it's a scientific theory. Get familiar with the very best creation science offers, and don't use these doubtful arguments. Whenever your teacher does not provide you exemplification essay topics, you always have the option to attempt employing a number of the topics on the next list.1. The maturation of railroads in the united kingdom and US grew at a fast pace. In 1830 The Baltimore and Ohio Railroad was operating, amongst being among the oldest railroads in the usa, it was among the very first commercial lines on the planet. LTL capacity is fast becoming severe, and complete truckload carriers have already begun to turn away freight. Keeping the great relationship with the customers is important to raise the capability to create value for the two parties. What to Expect From Essay Topics on Evolution? Topics may differ from year to year. Throughout time, our media improved in lots of ways. Just take a better look at this video. The Nuiances of Essay Topics on Evolution Up to now, a vast range of species concepts are proposed, and many are even associated with several differing definitions. By exploring the definition of the term theory, it's important to stress the concept a theory in science isn't the exact same as its quotidian meaning. A minumum of one sheet of paper needs to be utilized to create a plane. Instead, it's a test of how well you've learned and understood the fabric of the course as taught. The purpose of this program is to develop an appreciation for a selection of topics in signal transduction. It's a body of knowledge. Currently it's the only reasonable theory that explains how the organic world developed. The compound eyes of night creatures are very tough to develop, especially by themselves. The Essay Topics on Evolution Cover Up Moreover, it's a commonly established view on the maturation of life. Ahmad and Sein (1997) stated that in a quick lifespan undertaking, the culture can't be changed. In addition, it developed a superior awareness of responsibility in any respect levels within the organisation. Accordingly, in guiding an organisation's activities and boosting the customer's satisfaction, quality management take into account the customer focus policy like increase effectiveness in the usage of the organisation's resources. The great advantage of this strategy is it is parallelizable with very little work. All the needed characteristics have to be designed into the products or services at the start. Anyway, it can be put on the output of the entire organization by measuring the total superior operation of the organization (Besterfield, 1998).
Wednesday, January 1, 2020
List of Common Blood Chemistry Tests
Your blood contains many chemicals, not just red and white blood cells.à Blood chemistry tests are among the most common diagnostic tests performed to detect and diagnose illnesses. Blood chemistry indicates hydration levels, whether or not an infection is present, and how well organ systems are functioning.à Here is a list and explanation of several blood tests. Table of Common Blood Chemistry Tests Test Name Function Value Blood Urea Nitrogen (BUN) Screens for renal disease, assesses glomerular function. Normal Range: 7-25 mg/dL Calcium (Ca) Assess parathyroid functioning and calcium metabolism. Normal Range: 8.5-10.8 mg/dL Chloride (Cl) Assess water and electrolyte balance. Normal Range: 96-109 mmol/L Cholesterol (Chol) High total Chol may indicate atherosclerosis related to coronary heart disease; indicates thyroid and liver function. Total Normal Range: Less than 200 mg/dLLow-Density Lipoprotein (LDL) Normal Range: Less than 100 mg/dLHigh-Density Lipoprotein (HDL) Normal Range: 60 mg/dL or greater Creatinine (Creat) High creatinine levels almost always are due to renal damage. Normal Range: 0.6-1.5 mg/dL Fasting Blood Sugar (FBS) Fasting blood sugar is measured to assess glucose metabolism. Normal Range: 70-110 mg/dL 2-hour post-prandial blood sugar (2-hr PPBS) Used to assess glucose metabolism. Normal Range: Less than 140 mg/dL Glucose Tolerance Test (GTT) Use to assess glucose metabolism. 30 min: 150-160 mg/dL1 hour: 160-170 mg/dL2 hour: 120 mg/dL3 hour: 70-110 mg/dL Potassium (K) Assess water and electrolyte balance. High potassium levels can cause cardiac arrhythmia, while low levels may cause cramps and muscle weakness. Normal Range: 3.5-5.3 mmol/L Sodium (Na) Used to assess salt balance and hydration levels. 135-147 mmol/L Thyroid-Stimulating Hormone (TSH) Measured to diagnose thyroid function disorders. Normal Range: 0.3-4.0 ug/L Urea Urea is a product of amino acid metabolism. It is measured to check kidney function. Normal Range: 3.5-8.8 mmol/l Other Routine Blood Tests Beside chemical tests, routine blood tests look at the cellular composition of blood. Common tests include: Complete Blood Count (CBC) The CBC is one of the most common blood tests. It is an assay of the ratio of red to white blood cells, types of white cells, and the number of platelets in blood. It can be used as an initial screening test for an infection and a general measure of health. Hematocrit A hematocrità is a measure of how much of your blood volume consists of red blood cells. A high hematocrit level can indicate dehydration, while a. low hematocrit level may indicate anemia. An abnormal hematocrit may signal a blood disorder or bone marrow disease. Red Blood Cells Red blood cells carry oxygen from your lungs to the rest of your body. Abnormal red blood cell levels might be a sign of anemia, dehydration (too little fluid in the body), bleeding, or another disorder. White Blood Cells White blood cells fight infection, so a high white cell count may indicate infection, blood disease, or cancer. Platelets Plateletsà are fragments that stick together to helpà blood clot when a blood vessel is broken.à Abnormal platelet levels may signal a bleeding disorder (insufficient clotting) or a thrombotic disorder (too much clotting). Hemoglobin Hemoglobin is the iron-containing protein in red blood cells that carries oxygen to cells. Abnormal hemoglobin levels might be a sign of anemia, sickle cell, or other blood disorders. Diabetes can raise levels of hemoglobin in blood. Mean Corpuscular Volume Mean corpuscularà (MCV) is a measure of the average size of your red blood cells. Abnormal MCV may indicateà anemia or thalassemia. Blood Test Alternatives There are disadvantages to blood tests, not the least of which is patient discomfort! Scientists are developing less invasive tests for key measurements. These tests include: Saliva Tests Since saliva contains about 20 percent of the proteins found in blood, it offers potential as a useful diagnostic fluid. Saliva samples are typically analyzed using polymerase chain reaction (PCR), enzyme-linked immunosorbent assay (ELISA), mass spectrometry, and other analytical chemistry techniques. SIMBAS SIMBAS stands for Self-powered Integrated Microfluidic Blood Analysis System. It is a tiny lab on a computer chip that can yield blood test results within about 10 minutes. While SIMBAS still requires blood, only a 5à à ¼Là droplet is required, which can be obtained from a finger prick (no needle). Microemulsion Like SIMBAS, microemulsion is blood test microchip that only requires a drop of blood in order to make an analysis. While robotic blood analysis machines can cost $10,000, a microchip only runs about $25. In addition to making blood tests easier for doctors, the ease and affordability of the chips make the tests accessible to the general public. References C. A. Burtis and E. R. Ashwood,à Tietz Textbook of Clinical Chemistryà (1994) 2nd edition. Elsevier.
Tuesday, December 24, 2019
The Impact Of A Minimum Wage Increase - 1153 Words
The Impact of a Minimum Wage Increase Who gets paid the minimum wage? Well, at some point in our lives we all have been paid the minimum wage. But who are those people earning the minimum wage right at this moment? These are the people who have menial jobs. They work in restaurants, retail stores, bars, and maintenance services (OEA, 9). In 2014, the city of San Francisco proposed an initiative indicating that it would raise the minimum wage to $15 by 2018 (Ballotpedia). So would a typical low-wage worker and low-income family benefit significantly from a minimum wage increase? It would probably help them but not that significantly. In todayââ¬â¢s economic standing, people earning the minimum wage are considered below the poverty level if living in San Francisco. In my opinion, the minimum wage increase will give a slight rise to the quality of life for those working on minimum wage as well as their families and could potentially result in narrowing the income inequality gap for workers. Over the years, the cost of living in San Francisco has sky rocketed, so raising a family on a minimum wage has become almost impossible. In fact, the city of San Francisco is ranked the most expensive place in the United States to rent housing (Erin Carlyle of Forbes) Based on my research, the average rent on a two-bedroom apartment in the city of San Francisco is $1,795 per month. While renting a studio is ranging closely from $900-$1,000 (Budget chart). This shows that someone would need toShow MoreRelatedImpacts Of A Minimum Wage Hike900 Words à |à 4 PagesImpacts to a Minimum Wage Hike in America There has been much controversy over the years on the impacts resulting from an imposed minimum wage and how it relates to the economy. It wasnââ¬â¢t until President Franklin D. Roosevelt signed a Bill enacting the Fair Labor Standards Act of 1938 that Americanââ¬â¢s gained the right to a minimum threshold by which their labor could be sold. Against much opposition President Roosevelt was for a law that banned oppressive child labor and set the minimum hourly wageRead MoreThe Economic Impact of Raising the Minimum Wage1474 Words à |à 6 Pageswith it a national minimum wage. Echoes of that speech are still heard today. Senator Edward Kennedy (1989: S14707), in his criticism of the most recent increases in the minimum wage, declared: The minimum wage was, as it should be, a living wage, for working men and women ... who are attempting to provide for their families, feed and clothe their children, heat their homes, [and] pay their mortgages. The cost-of-living inflation adjustment since 1981 would put the minimum wage at $4.79 today, insteadRead MoreA Higher Minimum Wage May Help Workers Essay1251 Words à |à 6 PagesLabor Standards Act established minimum wage in 1938 (Grossman). Overtime, the minimum wage has been raised in order to account for inflation (BLS 14). However, what the overall economic impact of raising the wage will be is once again a daunting and extensive question. The controversy over raising the minimum wage seems to come from often conflicting economic opinions. While raising the minimum wage is done with good intentions, critics argue that a higher minimum wage will harm those it is actuallyRead MoreThe Minimum Wage Should Be Legal905 Words à |à 4 PagesRise in minimum wage has sever al impacts apart from unemployment. The minimum-wage workers would have to pay more taxes and receive fewer benefits if they are subjected to rise of minimum wage. The federal marginal rate for tax is 32 percent on an average for low earning members. This would amount to almost one third of the income of a worker. The tax rate is quite high for low paid workers. The rise of minimum wage would also reduce some of the advantages and leverages that the low-wage workersRead MoreImpact Of Minimum Wage On Unemployment1305 Words à |à 6 PagesImpact of minimum wage on unemployment The supply and demand factors show significance towards growth of unemployment. It has been observed that the price floor above equilibrium wage should cause unemployment. There are many people who have provided their arguments against the fact. However, it has been observed that whenever there has been a rise in the minimum wage of workers, unemployment rate goes very high. For example, an organization has to maintain its expenses as well as its incomes.Read MoreThe Effects Of Raising The Minimum Wage1311 Words à |à 6 PagesThe Negative Impacts of Raising the Minimum Wage While the debate over the effects of raising the minimum wage continues, there are countless studies and statistical data to support both sides of this controversy. Often the negative impacts of these wage increases are overshadowed by those who want to help the working class who live at or below the poverty level. Do these increases actually help the ones that they were intended to help? What are the negative impacts on the rest of the working classRead MoreEconomic Outcomes Of Raising The Federal Minimum Wage1489 Words à |à 6 Pagespercent of all wage and salary workers. Among those paid by the hour, 1.3 million earned exactly the prevailing federal minimum wage of $7.25 per hour. About 1.7 million had wages below the federal minimum. Together, these 3.0 million workers with wages at or below the federal minimum made up 3.9 percent of all hourly paid workersâ⬠(Ratio of Minimum Wage). The Federal minimum wage drives debate among people today, and with many wanting the federa l government to raise the minimum wage to fifteen dollarsRead MoreThe Benefits Of Raising The Minimum Wage1656 Words à |à 7 Pagesto be should the minimum wage be raised or should it be lowered or eliminated altogether. From where I stand minimum wage should be raised. Everyone is more successful when people are paid a living wage. Changes to the minimum wage would strengthen the economy and business, Lift Americans out of poverty, and will be unlikely to significantly impact prices. The only way to grow the economy in a way that benefits 90% is to change the structure of the economy. Paying people a fair wage is a sign of respectRead MoreShould Minimum Wage Be Increased?1691 Words à |à 7 PagesShould Minimum Wage be Increased? Introduction The term, ââ¬Å"minimum wageâ⬠refers to a lowest payment that an employer is bound to pay to its workers. Today minimum wage is made compulsory in more than ninety percent of nations including Canada where workers are demanding to increase minimum wages for a long time. Minimum wages are revised by governments in order to met growing needs of workers. There is a difference of opinion on the issue of increasing minimum wages among people of Canada. EmployersRead MoreShould Minimum Wage Be Increase?996 Words à |à 4 PagesIntroduction Should minimum wage be increase to $15 an hour? That seems to be the million dollar question. Minimum wage is the lowest wage an employee can receive for working. Minimum wage is a contract or legislation by the government or legal authority. How would the increase in minimum wage impact the economy? Summary According to, a news article in the Star Phoenix called ââ¬Å"Pros and cons of a minimum wage increase hourlyâ⬠(Tyndall, 2015). Tyndall states that, minimum wage is basically the lowest
Monday, December 16, 2019
Chinese Influences Free Essays
China affected Asian countries culturally, socially and politically. Korea, Vietnam and Japan are the typical nations of Chinese influences. Chinese moral ethics, ideal roles of women and the government system considerably impacted those countries. We will write a custom essay sample on Chinese Influences or any similar topic only for you Order Now Even so, among these countries, they developed their own unique aspect to some varying degrees. First of all, Korean, Vietnamese and Japanese authorities respectively emphasized Confucianism through education. For example, Confucian-based schools were established in Korea and Vietnam. In spite of those schools, Korean students studied Confucianism in China. Japanese students were also taken to China for learning Confucianism by Shotoku Taishi, a leading member of a major clan. After visiting China, he issued the ââ¬Å"Seventh Article Constitution. â⬠Taishi encouraged practicing Confucianism in Japan. Nevertheless, when the Japanese came up with samurai that emphasized bushido or the way of the warrior, they valued warriors rather than scholars whom Confucianism valued. Second, while Korean women had limited roles as Chinese women, Vietnamese and Japanese women had unbounded roles. Confucius highlighted women as subordinate characters to men. Therefore, as Confucian-influenced countries, they were expected to have limited roles of women. In fact, Korea was the only one in which restricted wide social activity of women. Korean women formerly raised her children at her parentsââ¬â¢ home, but after adapting to Confucianism, she belonged to husbandsââ¬â¢ family and raised her children at her parents-in-lawââ¬â¢s houses. On the other hand, Vietnamese women had wide sphere of social and economic activities. Also, Japanese women were not restricted. They were able to inherit properties and live with her parentsââ¬â¢ house when they were married. Most importantly, Vietnam, Japan and Korea borrowed the Chinese government system although Japanese developed their own in the later years. Vietnam was under Chinese rule for more than 1,000 years and the Chinese officials tried to assimilate into China. Korea is located right under the northeast of China. Therefore, there were a lot of political influences. For example, in the 7th century, the Silla Kingdom united the peninsula with help of Tang dynasty. Chinese tried to control and assimilate Korea. Chinese intervention led Trung sistersââ¬â¢ uprising in Vietnam and military resistance in Korea. Vietnam was able to establish as an independent state in the 10th century and China withdrew military in Korea. Whereas Japan, it was never invaded and conquered by China. It is 100 miles away from the mainland. Hence, Chinese influences were not significant. They did borrow Chinese political system. Then again, the Japanese government was decentralized and came up with feudal system and samurai. How to cite Chinese Influences, Essay examples
Sunday, December 8, 2019
Entrepreneurship Business Plan Analysis â⬠Free Samples
Question: Discuss about the Entrepreneurship Business Plan Analysis. Answer: Introduction Business plan is a written document that defines the business objectives, sales, strategies, financial and marketing forecasts. Analysis of business plan involves the evaluation of a business plan so that the entrepreneur or investor can provide a logical breakdown. The three main functions of a business plan are to communicate the future of business, to act as an organizing tool, and to convey the credibility of business. Business planning is important as it provides a clear statement of direction, provides a holistic perspective on the firm, encourages goal setting and encourages entrepreneurs to research their business idea. Further, a business plan can help raise finance and provide a suitable yardstick to evaluate the organizational performance. However, a business plan does not guarantee success. It may have biased or outdated information. Also, it cannot eliminate uncertainty. The three main elements of a business plan are operations, finance and marketing. The business plan i ntegrates operations, marketing and financial aspects of the business. This report involves the evaluation of The Pasta Tree, the only fresh pasta retail producer in Springfield. The main components of a business plan are executive summary, company background, marketing, production and operations, financial projections, implementation timetable and appendices. Evaluation of Executive Summary The executive summary is the introductory segment that briefly summarises key features such as business objectives and goals, marketing, operations and financial segments. In the business plan of The Pasta Tree, a brief description of the company is provided. It is stated that the company has built a loyal customer base while increasing sales 15% every year in the past three years (Bplans.com 2017). The figures for initial investment are stated as $80,000 (Bplans.com 2017). The executive summary also states the plan of expanding operations within the city to meet the increased demand. It is evaluated that the business plan seems practical as it has a clear direction and target. The business plan states the objectives of expanding production facilities, establishing strong sales and maintaining tight control of cost during expansion. Further, the organizational mission is making high quality products, offering greater value to the consumers and having commitment to the highest standard (Bplans.com 2017). It helps in getting a brief idea about the basic attributes or key value of the company. The brief statements of the marketing program, operations planning and financial charts give a clear picture of how the objectives and goals shall be attained. The financial highlights are represented in the form of chart that makes the understanding stronger. Therefore, the executive summary covers all the important aspects and components giving it a clear direction (Watson, McGowan and Smith 2015). Evaluation of Company Background Company background describes the background, history, types of products and services, number of employees, business goals, mission statement and other relevant details about the company. This gives the readers an understanding of the issues that supports the organization to grow. The business plan states about the ownership of The Pasta Tree by Jill Forman and John Wingate. However, no details are stated about the two owners regarding their background or education. The company history is stated how the fresh pasta was first created (Bplans.com 2017). The details are mentioned about how the two owners have come a long way to bring the product and sell to the public. The graphical representation of the past performance regarding the sales, net profit and gross profit helps in easy understanding of the plan. Further, the business plan states the analysis of previous years balance sheet to analyse the sales, gross profit, and net profit (Bplans.com 2017). These statements could only be s tated in the appendices and a detailed account of the previous years could be avoided. The business plan states the location and facilities. The greatest strength is that is mentions about the convenience offered by the location. This gives an idea about the strategy for new location (Bplans.com 2017). Further, the list of products is stated that are offered by the company such as linguini, tricolour fusilli, fettuccine and various others (Bplans.com 2017). However, the services offered by the brand are not stated such as fulfilment of customers needs, customer care service or home delivery options (Brinckmann and Kim 2015). Evaluation of Marketing For determining the marketing strategies, the company needs to undertake market research. The market needs to be assessed using frameworks and strategies to analyse the market environment. The business plan uses the segmentation strategy to target a group of customers. According to Neill, Metcalf and York (2015), the market segment can be divided demographically, geographically, behaviourally and psychograph. It is analysed that the market is segmented only based on the purchasing pattern of the consumers. The market segmentation could be wider so that a group of customers could be targeted. Based on demographic segmentation, the market could be divided for men and women of all ages. The geographic segmentation is identified as sale in supermarkets and small grocery stores where the product shall reach the customers (Bplans.com 2017). Based on psychograph, the market can be segmented as the people who have a moderate lifestyle but wish to consume freshly made products. According to b ehaviour, the market can be segmented as the consumers who have frequent usage of pasta. The consumers who make pasta at home so that they can consume it fresh can be chosen as a prime market segment. The target market is selected as the urban professional segment that would be attracted to the freshness and quality of The Pasta Tree (Ghandour 2014). It is argued that no external environment analysis is made that would affect the operations in Sydney. The market trends and demand of the consumers for pasta needs to be analysed. The plan does not identify a few competitors in the same industry and their distinctive advantage over The Pasta Tree. However, the plan identifies the packaging strategy used by The Pasta Tree to make the product competitive (Bplans.com 2017). It is further argued that the marketing mix strategy is not defined that would help products reach the consumers. The extended marketing mix could be framed so that the products reach the consumers in a proper way (Martin, McNally and Kay 2013). Evaluation of Operations and Production The business plan mentions about the management co-owners Jill Forman and John Wingate who conduct and manage the daily operations at The Pasta Tree. No details are stated about the legal and licensing requirements to operate business in Sydney. The business needs to have a license and must undergo the administrative and security check processes to ensure safe food. No details are mentioned about the approval required in Sydney. The business plan mentions about the personnel required for the business such as production manager, store staff, sales manager, delivery staff and others (Bplans.com 2017). The details lack organizational structure and responsibilities to be undertaken by the staffs. No details are mentioned about the professional advisers who would help in making the business plan successful. The insurance and risk factors that could arrive in the business are not mentioned. The business plan needs to take into account the organizational risk factors in operations, staff or others so that mitigation techniques can be formulated and uncertainties can be managed. The plant and equipments required to set up the pasta business in Sydney is not mentioned. The production processes and the manpower to be used are determined (Bplans.com 2017). Evaluation of Financial Projections The financial projections are the considerations and information about the financial data. The three areas must be considered to prepare this segment- basic assumptions and information, financial forecasts and analysis of financial forecast (Bplans.com 2017). The business plan only presents the numeric data for financial forecast. No explanation is given about the assumptions made or about the forecasts is prepared. No details of the bank accounts are provided of the management. The details about loans and overdrafts are not mentioned that support the investment of the firm (Bplans.com 2017). It is analysed that the financial forecasts such as projected profit and loss statement, pro forma cash flow, break even analysis and a few business ratios are stated. The greatest strength about the financial projections are that three years are analysed that provides an idea about the financial condition of the company. However, no analysis or explanations are given that would be supporting reasons for the data. The data interpretation or the scope of growth is not stated in the business plan for The Pasta Tree. The milestones set by the firm for sales and revenue is represented graphically that adds to visual attractiveness and understanding (Bplans.com 2017). Evaluation of Implementation Table The implementation table provides the owner/manager with a schedule of the activities needed to be carried out to set up and run the business. Also, it is organised on a monthly basis, so it provides a set of milestone schedules for the owner/manager to work by. The Pasta Tree can push its three most popular products- spaghettini, linguini and fettuccine (Bplans.com 2017). The marketing strategy is determined to advertise the products with discounting feature to introduce it in the supermarkets. It is recommended that the marketing mix could be designed for details about the specific elements. The sales strategy is also forecasted that presents the products better than the competition. The milestones are graphically represented regarding assigned dates, responsibilities and budgets (Falik, Lahti and Keinonen 2016). The visual representation of the data is for better understanding and the targets to be achieved in every quarter. It is assessed that the canal run must be conducted in a ll the four quarters, whereas the in-store displays, product facility expansion and production equipment are to be run in certain parts of quarters only (Bplans.com 2017). The marketing strategies and pricing strategies are not determined using which the business shall be conducted in Sydney. All the financial statements and forecast figures are well represented in the appendices (Demil et al. 2015). Conclusion Overall, it is assessed that the business is suitable to conduct in Sydney. The business plan is practical, but there is a need to identify several sections such as pricing strategies, promotional strategies and others. There is no biased information presented in the business plan. The political conditions of the business are favourable to conduct business in Sydney. It is evaluated that the business plan seems practical as it has a clear direction and target. Further, the organizational mission is making high quality products, offering greater value to the consumers and having commitment to the highest standard. The business plan states about the ownership of The Pasta Tree by Jill Forman and John Wingate. The graphical representation of the past performance regarding the sales, net profit and gross profit helps in easy understanding of the plan. There is a need to state the services offered by the brand such as fulfilment of customers needs, customer care service or home delivery o ptions. The market segment can be divided demographically, geographically, behaviourally and psychograph. The plan does not identify a few competitors in the same industry and their distinctive advantage over The Pasta Tree. Therefore, a few competitors and their core advantages need to be identified. The business needs to have a license and must undergo the administrative and security check processes to ensure safe food. The business plan needs to take into account the organizational risk factors in operations, staff or others so that mitigation techniques can be formulated and uncertainties can be managed. The greatest strength about the financial projections are that three years are analysed that provides an idea about the financial condition of the company. The marketing strategies and pricing strategies are not determined using which the business shall be conducted in Sydney. References Bplans.com (2017).Pasta Manufacturer Business Plan Sample - Appendix | Bplans. [online] Bplans.com. Available at: https://www.bplans.com/pasta_manufacturer_business_plan/appendix_fc.php [Accessed 21 Apr. 2017]. Brinckmann, J. and Kim, S. (2015). Why We Plan: The Impact of Nascent Entrepreneurs' Cognitive Characteristics and Human Capital on Business Planning.Strategic Entrepreneurship Journal, 9(2), pp.153-166. Demil, B., Lecocq, X., Ricart, J. and Zott, C. (2015). Introduction to theSEJSpecial Issue on Business Models: Business Models within the Domain of Strategic Entrepreneurship.Strategic Entrepreneurship Journal, 9(1), pp.1-11. Falik, Y., Lahti, T. and Keinonen, H. (2016). Does startup experience matter? Venture capital selection criteria among Israeli entrepreneurs.Venture Capital, 18(2), pp.149-174. Ghandour, A. (2014). Identifying Dimensions of Business Continuity Plan from Common Expressions among Business Continuity Professionals.International Journal of Business Administration, 5(3). Martin, B., McNally, J. and Kay, M. (2013). Examining the formation of human capital in entrepreneurship: A meta-analysis of entrepreneurship education outcomes.Journal of Business Venturing, 28(2), pp.211-224. Neill, S., Metcalf, L. and York, J. (2015). Seeing What Others Miss: A Study of Women Entrepreneurs in High-Growth Startups.Entrepreneurship Research Journal, 5(4). Watson, K., McGowan, P. and Smith, P. (2015). Leveraging effectual means through business plan competition participation.Industry and Higher Education, 29(6), pp.481-492.
Subscribe to:
Posts (Atom)