Indigenous Australians Essay Example | Topics and Well Written Essays - 500 words

Indigenous Australians - Essay Example The constitution grants the rights to all citizens and it is designed to ensure that that equality and equity prevail among all citizens regardless of race disparities. However, it has been realised that the indigenous Australians have been sidelined in the country’s constitution on the basis of racial bias. As such, it has been realized that there is need to achieve full inclusion of Aboriginal and Torres Strait Islander peoples in the Constitution. This can be done through removing the notions of racial bias towards the indigenous people while at the same time recognising their heritage, culture as well as language. On the other hand, it can be noted that Langton (2008) states that people are still disillusioned by the widely held perceptions they have about the aborigines who are often viewed as backward and primitive. In many people’s minds, the indigenous Australians are not equal to other people as a result of their backwardness. Constitutionally, the indigenous people have often been viewed as second class citizens while they are the original people in Australia. This view is also supported by Behrendt (2010) who argues that the constitutional gap between haves and have notes (Indigenous people) is wide hence concerted measures should be taken in order to bridge it. This is mainly as a result of inequality that was created when the Australian constitution was adopted. Poverty is high in reservations which are often home to indigenous people since they are structured in such a way that discourages investment. As noted by Kristof (2012), the level of poverty in reservations like the sprawling Pine Ridge Indian Reservation is high and this can be attributed to factors such as lack of education and alcohol abuse and dysfunctional families. This situation is also resembles the case of indigenous Australians, the aborigines who for a long period of time have been

4.Is the process of globalization undermining the authority of the Essay

4.Is the process of globalization undermining the authority of the state and removing it from its central role in International Relations - Essay Example (McGrew, 1998, p 219-243) Gilpin (1987, p19) argues that the process of globalisation is characterised by the interaction of economic and political issues between sovereign states. However, this [process of globalisation has been intensified because of the introduction of technology, better communication and better modes of travel between these countries. Liberal economists believe that globalisation assists in the process of building peace in the world. It encourages economic growth and also institutes order in the international arena. Kennedy (1993, p 12) also adds that the process of globalisation has shown how states no longer take up the central role in their individual economic process. This argument can be verified by the existence of a global economy. The forces affecting the global economy have very little to do with what is prevalent in specific countries. Additionally, the rate of flow on capital from the international arena into and out of specific countries also indicates how nations are loosing their central role. Because of globalisation in the business sector, politics in individual countries has to change to accommodate this new phenomenon,. Some of the arguments for against the denationalisation of states will be examined inn the essay below. These arguments will be based on their effect on state authority in international relations. Jackson and James (1999, p 34) describe the state as a community of persons that have the sole authority to exert physical force within a certain territory. This means that there are certain features that are distinct to states. If these features are eliminated then that particular state will not have a central role. These factors include; ONeill (2006, p13) says that the issue of globalisation has not undermined the states’ role because it has not hampered the issue of central political relations. A case in point is the European Union, where member states from various parts

Rousseau, Marx and the Critique of Classical Liberalism Essay

Rousseau, Marx and the Critique of Classical Liberalism - Essay Example Rousseau on the other hand, emphasizes on democratic political interdependence and economic self-sufficiency whereby all human beings are free and also tries to explain the origin of inequalities and how to resolve them. Just like Rousseau, Marx hates inequalities hence much of his work is criticism of the capitalist state and goes beyond political democracy to emancipation of the human race. The paper will discuss Rousseau and Marx approaches to critique of classical liberalism. Classical liberalism puts emphasis on securing the freedom of individual by limiting the power of the state and this freedom is referred as liberty. In this case, ownership of private property is encouraged and protected by the law and exchange of the property with a willing buyer is voluntary. It also advocates for the need to separate the church from the state hence freedom of religion and also free trade. This is in the belief that people have inalienable rights to life, liberty and pursuit of happiness a nd the role of the state is to safeguard these rights (Fremont-Barnes, 225). It is also based on the idea that people aim at maximizing pleasure and minimizing pain and that people engage in labor voluntarily to get a reward or due to fear of hunger. Much emphasis is placed on the individual since the society is a sum of individual members thus discourages formation of unions or group associations (Epstein, 1-12). Contrary to classical liberalism which emphasizes negative freedom whereby others should refrain from interfering with other’s rights, Rousseau views freedom as positive whereby individuals are enabled to realize higher goods. On the discourse on the origin and basis of inequality (1755), Rousseau acknowledges the existence of primitive societies who lived under the natural state and directed to act by their passions and desire. Under the natural state, all men are equal and inequality is brought about by men through civilization (Rousseau 1987, 26). Each society me mber has a task to perform and no one is forced to share tasks with others and the sovereign and the people have same interests. Contrary to classical liberalism, under this democratic government no one is above the law and if a government proves not fit for the society, the society has the right to overthrow it and form a new government. Such was the case with the French revolution which led to overthrow of the monarch. The government envisioned by Rousseau is a direct and not representative democracy where the people are sovereign with a general will and legislative power with the government being distinct from the sovereign (Rousseau 2008, 25). The government neither engages in conquest of its neighbors since it is self-sufficient nor expects to be conquered but instead it expects the neighbors to be of assistance in time of need hence political interdependence (Rousseau 1987, 27). On his second discourse, Rousseau points out two types of inequalities; natural inequality such as age, health and bodily strength; Moral or political inequality which is consented by men such as being more powerful, richer and more honored. He argues that the development of inequalities was as a result of evolution from natural to moral inequality. The formation of language was important in the evolution as it enabled the ideas to be spread widely otherwise in the state of nature, any

Why i want to be a LPN Essay Example | Topics and Well Written Essays - 250 words

Why i want to be a LPN - Essay Example I chose your school of nursing because it is an award-winning school and I believe that it would assist me in the development of my comprehension of the basic principles of nursing. I understand that the program that the school presents is planned to meet the swiftly growing requirement for competent nurses in our country. The school’s high-tech facilities, faculty as well as other professional resources will also be invaluable during my study. I have always had a particular interest in studying science and I have excelled in my grades. Moreover, I am an open minded, hard working, dynamic, and sociable individual who possesses great interpersonal and networking skills. I am also excellent in team playing and I have other traits such as attention to details, readiness to learn, and the ability to work with minimal supervision. These would be invaluable as I pursue my dream. Moreover, I believe that pursuing the profession of a Licensed Practical Nurse would grant me the opportunity of improving these skills, which would make me even better. Pursuing this profession will also endow me with exceptional support and training, over and above giving me the opportunity to interact with the infamous nursing professionals in your institution. Once I become a Licensed Practical Nurse, I aim to take part actively in the promotion as well as provision of health care services to the best of my capability. I am genuinely concerned in people’s health, and I would love to work in hospitals, private homes settings, extended care facilities, nursing homes among other settings where there is need to serve humanity by improving their life

The Effect of the Internet on Music Essay Example for Free

The Effect of the Internet on Music Essay There has been much ink spilled over the supposed death of the music industry. While this worry may be a bit premature, the most pressing economic issue facing the music industry today is the slow but steady push toward a complete restructuring of itself. Downloadable music, in the form of mp3s, has revolutionized the way we think about and consume music. With the increased prominence of independent labels, file-sharing websites, and innovative artists who are creating their own methods for releasing albums, the traditional record business is becoming increasingly irrelevant. In economic terms, this has so far meant declining record sales among the major labels, a recent spate of firings, and the loss of big artists, who are moving either to concert promoters like LiveNation, independent labels, or their own recording studios. Over the past year, artists from Radiohead to Coldplay to Trent Reznor have released songs and entire albums for free over the internet. They have almost universally been a success, although some less well-known artists, as well as various industry insiders, have argued against this being a workable model. Michael Laskow, CEO of an independent AR company, TAXI, argued that Radiohead allowing consumers to pay what they choose for a digital album is not indicative of the future of the music industry: While the band, its fans and artists alike are celebrating what looks like a success for Radioheads bold move in releasing their new album using the ‘pay what youd like’ model, I think everybody has overlooked one very important aspect of this, and it doesnt bode well for the future of the music industry. Radiohead has been bankrolled by their former label for the last 15 years. Theyve built a fan base in the millions with their label, and now theyre able to cash in on that fan base with none of the income or profit going to the label this time around. The question is: how will new artists be able to use this model in the future if they havent built a fan base in the millions in the years leading up to the release of their album under the pay what youd like model (Lipsman)? The worry that new artists won’t be able to give their music away for free (disregarding the 40% or so of people who voluntarily paid from one to twenty dollars for the album), is a valid one. However, Laskow seems to view major labels as the only answer to new artists looking for an audience and a way to make a living with their music. On the contrary, the rising prominence of independent labels over the past several years has proven that it doesn’t take millions of dollars to create an album and promote it. Labels like Kill Rock Stars, Bloodshot Records, and Rounder Records have all seen their profits rise over the past few years, at the same time that major labels have seen their sales dip or stagnate. Cameron Strang, founder of New West Records, points out the economic advantages in not having the huge overhead of major labels. Thats the difference between us and them. Artists on our label who sell 200,000 copies make a very good living (Margolis). Artists like Aimee Mann and Michelle Shocked are releasing albums on their own. (Dare I even mention Ani Difranco? ) Clearly, independent labels as well as individual artists are capable of doing the work that major record labels have been doing for years. With the advent of webcasting and podcasting, along with XM and Sirius radio networks, traditional radio doesn’t have the same hold on the music buying public’s imagination that it once did. Increasingly, new artists are discovered by getting their songs played on television shows like The Hills and Grey’s Anatomy. The music industry is attempting to do to webcasting what it did to Napster, which is to essentially strangle it through lawsuits in the hopes of being able to squeeze money out of the webcasters. Instead of viewing web-based radio as a unique promotional opportunity, the mainstream music industry only sees profits being taken out of its pocket. At the same time, artists, like the ones discussed above, are realizing which way the wind is blowing. Digital Music News publisher Paul Resnikoff notes that: A growing number of superstars are or soon will be grazing in post-major pastures. And for them, the bigger basket touring, merchandising, publishing, relevance, and even album sales remains more important than a paid download, protected or otherwise (Resnikoff). These additional streams of revenue are often the more lucrative for musicians than album sales. It only makes sense that artists would look at digital music, including webcasting and file-sharing, as ways to gain fans that will purchase concert tickets and merchandise. File-sharing continues almost unabated, although the popularity of iTunes despite much of its music being DRM-protected has provided a model for money-making in the digital era. Despite iTunes and growing copyright protection on albums and songs, paid downloads account for, at most, five percent of all music downloads. Even ringtones, which are currently a substantial slice of the digital revenue pie, aren’t turning a profit. Labels are considering raising prices, but it is unknown whether customers will pay for them, or that a single line of revenue will pull record labels through financially. Warner Music Group and EMI have had massive layoffs over the past year in an effort to restructure and shore up the companies financially. Minimum Advertised Pricing, or MAP, is the setting of minimum prices by manufacturers for retailers. In the case of the music industry, the major labels colluded in the mid-1990’s to require discount retailers to advertise higher prices or give up joint marketing funding, which could mean giving up millions of dollars (Menn 152). The history of MAP, at least in the music industry, appeared to end on September 30, 2002, when the five major labels settled a lawsuit brought by 30 states in an effort to end the practice (Menn 152). In 2000, the Federal Trade Commission investigated price-fixing by major labels and the majors signed a consent decree getting rid of minimum-advertised pricing policies (Christman, Pricing). The FTC has estimated the cost to consumers in the years when MAP was practiced to be at half a billion dollars (Menn 152). For nearly the past 100 years, since the passage of the Sherman Act, mandatory pricing restraints were deemed to violate antitrust laws. It wasn’t until the summer of 2007, when the Supreme Court overturned the law against setting mandatory minimum pricing in a case brought by an accessories manufacturer, that the practice was made legal (Christman, Why Labels). This has potentially enormous ramifications for the music industry and music fans alike; it remains to be seen whether those ramifications will be for the benefit of music fans or to their detriment. The music industry has argued that requiring discounters to sell CDs at the same price as specialty stores will lead to greater selection and a halt to the bleeding that independent record stores have experienced (Christman, Why Labels). At the same time, music fans have bemoaned the high price of CDs for years, and raising prices unilaterally could drive down music sales even further. The major label system, which requires millions of dollars in overhead to promote certain artists, is at least partly to blame for the rising prices. At Salon. com Scott Rosenberg argues that: Even more than the artists, the victims of this system are music fans who end up paying exorbitant prices for CDs to fund bloated recording-company marketing budgets. That money gets spent manufacturing a handful of superstars, leaving serious music lovers to fend for themselves in ferreting out unusual new music that the business considers too niche-y to be worth promoting (para. 6). In this view, the pricing system set by the majors is inherently unfair to both fans and the majority of artists who aren’t â€Å"superstars†. Rather than setting minimum pricing restraints for discount stores, major labels could lower wholesale prices to ensure that independent record stores could stay in business. This would largely be to the labels’ benefit; over the last five years, their reliance on big-name stars to sell huge amounts of records has been a losing proposition. Titles from unknown artists and back catalogs are often nowhere to be seen at discount stores. The personal service and deep selection at independent stores creates an opportunity to sell these types of titles. The $9. 99 price point set by discount stores and iTunes has surely contributed to declining album sales, but the burden of maintaining that price point has been shouldered almost entirely by independent music retailers, while the major labels continue to raise list prices (Christman, Why Labels). Majors are contributing to declining sales while preserving their own profit margins. Mike Dreese, quoted in Billboard, also points a finger at discount stores that lure customers in with low CD prices: Wal-Mart, Target and Best Buy have succeeded in almost destroying the specialty-music account base and are now setting the rules for the industry. If minimum pricing were implemented, it would keep the discounters from finishing the job. Those discounters, which have limited selection, have such dominance that labels now spend more money on supporting low retail prices and much less advertising the availability of the product (Christman, Why Labels). The tide of public opinion seems to be turning toward the use of minimum pricing restraints. When price-fixing in the music industry was first being investigated, still-new stores like Best Buy maintained a relatively deep catalog of music, knowing that it was competing directly with independent music stores. Now that discounters have succeeded in putting many small stores out of business, their catalog consists largely of the Billboard Top 100. What seemed revolutionary in 2000 – music priced at a reasonable amount over cost – has had unforeseen consequences. The prominence of discount stores in the music industry has contributed to the lack of choice and variety so unappealing to music fans. Wal-mart has surpassed Apple to become the number one music retailer in this country. The driving down of CD price points to $9. 99 has been salutary for customers, but may have longer-lasting effects by eliminating space for new artists and broad selection. Furthermore, even the $9. 99 price point has been artificially constructed by discounters hoping to entice customers and labels hoping to propel all-important first week sales (Deutsch). Noting the possible risks of this new low price point in Billboard, Ed Christman points out that â€Å"After all, at $9.99 the U. S. music industry currently has the lowest CD pricing at retail since the format was introduced here in 1983. † It is unclear whether imposing minimum advertised pricing at this point would even make a difference in terms of independent music stores. Many have already closed, and those that have stayed open have diversified or moved to a location free of big box discounters. The music industry may impose mandatory minimum pricing again, but low CD price points and the decreasing number of brick and mortar music stores will likely continue unabated. The internet has changed the distribution of music in ways we are only just beginning to imagine. The old models – for promotion, distribution, and sales – aren’t working in the age of the mp3. Clearly, continuing to hold on to past business models and attempting to fit new trends and technology into it has not worked out well for the major labels. A fear of competition and new technology accounts for the manner in which the industry attempted to deal with Napster. Afraid of lost profits, music industry executives from the top five record labels chose to batten down the hatches and lock away any possibility of negotiation with Napster. According to Joseph Menn, the author of All the Rave: the Rise and Fall of Shawn Manning’s Napster, this is partially due to a generational divide within the individual labels. Top-level executives are often â€Å"old-school leaders who turn purple with rage at the very idea of an MP3† (Menn 153), while younger up-and-comers saw the possibilities of this new technology. With the advent of webcasting and podcasting, along with XM and Sirius radio networks, traditional radio doesn’t have the same hold on the music buying public’s imagination that it once did. Increasingly, new artists are discovered by getting their songs played on television shows like The Hills and Grey’s Anatomy. The music industry is attempting to do to webcasting what it did to Napster, which is to essentially strangle it through lawsuits in the hopes of being able to squeeze money out of the webcasters. Instead of viewing web-based radio as a unique promotional opportunity, the mainstream music industry only sees profits being taken out of its pocket. At the same time artists are realizing which way the wind is blowing. Touring, merchandising, and publishing remain large chunks of income for both individual artists and music labels. The traditional record industry has become increasingly outdated and unable to keep pace with the digitized, connected world of the 21st century. Music downloading is hugely popular around the world, but particularly in places as diverse as Ghana and Brazil, where poverty is widespread and cheap mp3s have spread like wildfire. Maintaining the expensive overhead of a bloated recording industry through high price points for CDs means that music is only available to a certain class of consumer. Peer-to-peer file sharing has made music more widely available, and helped raise the profile of independent and unsigned bands. Clearly these benefits have to be taken into account while also denouncing outright piracy as clearly illegal. It is up to the music industry to come up with easy to use, innovative ways to incorporate the changes mp3s have made to their business, with successful ventures like iTunes leading the way. The specter of music piracy and lost profits have led the music industry into a premature grave, when they should be welcoming the opportunity to promote music in new ways and to new communities. WORKS CITED Christman, Ed. â€Å"Pricing Perils for Record Labels. † Billboard 26 May 2007. Lexis-Nexis. 15 May 2008 http://www. lexisnexis. com. Christman, Ed. â€Å"Why Labels Should Set Minimum Price Restraints. † Billboard 1 September 2007. Lexis-Nexis. 15 May 2008 http://www. lexisnexis. com. Deutsch, Claudia. â€Å"Suit Settled Over Pricing of Music CDs at Three Music Chains. † New York Times: NYtimes. com. 1 October 2002. 11 May 2008 http://query. nytimes. com/gst/ fullpage. html? res=9C05E5D91238F932A35753C1A9649C8B63.

Analysis of Chinas Healthcare Systems

Analysis of Chinas Healthcare Systems China went through a drastic change in 1978 from communism to a better economic change by Deng Xiaoping. He ushered china into new era. Even though he made huge reforms economically, China was lacking any significant reforms in medical systems. China prior to 1978 had a centralized medical system. Now its split between private and public services. Chinas public healthcare is inconsistent. The developed and established cities have easy and direct access to hospitals and lot of advanced medical services but the rural areas and towns dont have even basic medical needs. The quality in some health care facilities is up to Western standards even though their methods are different. (Gao,chen,4). Health care system is divided into government and private sector. Government provided majority of healthcare infrastructure and private sector provided majority of health funding. China urban health care system implemented new Basic Medical Insurance system (BIS) for urban employees, co-funded by employer and employee. Also, launched pilot projects to cover urban residents even outside workforce. Rural Health care system was also started consists of new co-operative medical health insurance system co-funded by government and rural population. By the end of 2007, NCMS covered 86% or rural population and is target to cover 100% by 2010. China is one of the fastest ageing countries and has more people aged 65 years. Chinas health care system during 1948-1978. Centrally Planned. Health care for all. Reimbursement system. Urban Health Insurance Plans GIS and LIS. Rural Cooperative Medical Scheme (CMS). Face of healthcare was barefoot doctor. No private clinics/hospitals. Another reform between 1978- 2000, decentralization Healthcare responsibility shifted to local bodies. Collapse of traditional healthcare system. Out-of-pocket expenditure increased drastically.   Permission granted for profit hospitals and clinics. Between 2000 -2005, merger of GIS and LIS into Basic Urban Employee Health Insurance plan à ¢Ã¢â€š ¬Ã‚ ¢Rural co-operative medical scheme launched. Commercial insurers allowed to enter market. And in 2005-2012, healthcare for all. The new health care reforms focused on expanding health insurance coverage and improve healthcare system. The reforms also focused improving the quality in delivery of health services. Chinas elderly population is around 200 million and is increasing but their health-care and facilities are decreasing. Due to lack of health-care 3/4th of their elderly population is suffering from non-communicable diseases. Their health care system is unfair and is not changed according to the meeting needs of new age. Only a small percentage of population is covered by proper health-care. The elderly population has only few nursing homes and rehabilitation services. (Hamed,3) Moreover, the elderly population have less knowledge about safeties and precautions. Health-care education and promotion of safety guidelines are necessary. Many diseases can be avoided with by properly educating and spreading the safety principles. Public health care funding decreased over the years and at the same time house hold expenditure raised. China tried to change and improve their health-care system over the years through fee for service plan to reimbursement affects even then the health-care system is under stress. Increasing in the number of aging population and decrease in younger generations will cripple the country in the future. Moreover, the ageing population is a burden on the economy. (Wang, Chen,1). Government Initiatives to Meet Elderly Society Challenge. Implementation of various chronic-disease prevention programs at national level. Local government agencies training laid-off workers in long-term care. New reforms enabled for special geriatric medical training at undergraduate level. The number of geriatric units also are increased. Government and private organization efforts has increased elderly home and gave raise to many new nursing homes. Community based elderly care services were also started in many urban areas. Government has understood the health issues and started to allocate more funds towards imp roving elderly care. Chinas government health expenditure spending is very low according to international standards per capita expenditure is also low. Between 1987-2007, China has increased its efforts in improving health status of its population. Chronic diseases, non-communicable diseases accounted for 80% deaths. People of china had a high exposure rate to risk factors. Since 2003, many safety precautions and awareness campaigns are lead to protect people from infectious diseases. Health organizations also have focused eradicating water borne illness. Later huge investments were carried out to stop water borne pollution. A new national environmental performance information disclosure program has also been started to improve health care. Chinas population relatively young by international standards à ¢Ã¢â€š ¬Ã‚ ¢However, rapid aging will soon begin in China. Chinas one child policy and aging population are creating huge economic and social challenges for society from growing and developing. These are some of the issues that are causing stress on Chinas health care system. References 1) Gao, Chen, Xu, Fei, and Liu, Gordon G. Payment Reform and Changes in Health Care in China. Social Science Medicine 111 (2014): 10. Web. 2)  Hamed, Abdula. The Problems of Chinas Health Care System Reasons for This Development and Improvement Suggestions. Hamburg: Diplomica Verlag, 2010. Web. 3) Wang, and Chen. Population Ageing Challenges Health Care in China.The Lancet 383.9920 (2014): 870. Web. 4)  The Lancet. Ageing in China: A Ticking Bomb. The Lancet 388.10056 (2016): 2058. Web.

The exit strategy within a business plan

The exit strategy within a business plan The Last portion of the business plan is the exit strategy. It may seem strange to develop a strategy this soon to leave the business, but potential investors will want to know the long-term plans. The exit plans need to be clear in your own mind because they will dictate how you operate the company. For example, if it is your ultimate aim to get listed on the stock market, then you have to follow certain accounting regulations from day one. Recent research study has shown that 40% of all small business owners would like to exit their business immediately but that only 25% have any sort of plan for doing so. A mere 7% of the people have a formal written exit plan in place so although the desire is at the forefront of many owners minds, there is no strategy to make it happen. The sequence of steps involved in the exit strategy are Timing and the market Estimation of business worth Improving business value Selling the business Concluding the sale Timing the market: During last decade, capital markets around the world became abundant with funds. These funds primarily got accumulated through a decade of economic growth and prosperity. Low interest rates and low yielding traditional investments have driven the fund managers to seek alternative investment strategies that would maximise their returns. Whether through expansion strategies of large corporates, consolidation strategies of private equity managers or purely direct investment, this money is finding a home in middle market privately owned businesses. No such opportunity had existed for business owners to accelerate their succession planning and considerthe future of their equity. But now, such a thing has become common. Estimation of business worth : Perhaps the single biggest factor that determines of the value of a business is its current and recent profit history. It represents the return to the business owner, and of course, the future business owner. The second major determinant of the value of a business is the future risk. It is an assessment of the probability that the profit of the business will be maintained or increase. Factors to be considered in assessing this risk include: à ¢Ã¢â€š ¬Ã‚ ¢ the dependency of the business on the promoters à ¢Ã¢â€š ¬Ã‚ ¢ sustaining the competitiveadvantage à ¢Ã¢â€š ¬Ã‚ ¢ intellectual property of the company à ¢Ã¢â€š ¬Ã‚ ¢ growth and profit trends projections à ¢Ã¢â€š ¬Ã‚ ¢ business practices à ¢Ã¢â€š ¬Ã‚ ¢ culture and professionalism of the company à ¢Ã¢â€š ¬Ã‚ ¢ the market in which the business functions While there is something called profit and risk trade-off, the Ultimate factor that determines the value is the strategic position of a buyer.Beauty is in the eye of the beholder. Factors such as economies of scale, Innovation of products and markets, market domination or even fast tracking of growth, can see particular buyers pay more for acquisitions than an accountants valuation. Improving business value: Business owners should consider similar steps when preparing to sell their business. Many businesses view their businesses as their Golden opportunity . It represents a one-off opportunity to convert a lifetime of efforts into wealth. So often, the majority of the familys wealth is tied up in the business, invariably all at risk and highly dependent on a successful exit outcomeà ¢Ã¢â€š ¬Ã‚ ¦ that is of course, after tax, after debt repayment if any. Clearly a strategy must be set to maximise value. The Main aim is to get the business investment available. Enough Attention must be focussed on those attributes of the future risk described before. We can take an example, what must be done to reduce the perception that the business will no longer prosper without the promoter of the business ? so, what are the implications for the management structure, policies and procedures, reporting, ongoing innovation and creativity and ultimately, the drive behind the business? By taking factors such as these, the business becomes more mature and will usually be in a better position to grow and prosper without the business promoters influence. Selling the Business: The whole selling process is a procedural methodology structured to attract the right buyer who is prepared to pay a good price for a business which clearly demonstrates strategic advantage through acquisition. It must be capable of withstanding a due diligence process without any material concerns. Armed with an Information, an investment ready business owner can commence the next phase of sellingà ¢Ã¢â€š ¬Ã‚ ¦ identification of a buyer. Not surprisingly, in around 60% of cases, business owners already know their future buyer. It may be a competitor, a supplier or even a client. A list of known suitors is easily assembled. Attracting the other 40% requires a sales program using mass marketing . The various options that are available are IPO Acquisition Merger Liquidation Concluding the sale For most of their lives, business promoters have risked most of their wealth to be in this once-in-a-lifetime position. They know how to run a business, but how can they make the transition from a risk taker to that of custodian? Sadly, too many business owners get this bit wrong! What does this pot of gold represent? It represents the future security, income and lifestyles for the business owner and their dependents for the term of their lives. It represents the opportunity to pass wealth to the next generation and beyond. How can investments be structured to provide good returns but mindful of the risk profile of the family? How can taxation be legally minimised? How can the estate planning be properly structured to incorporate uperannuation, insurance, wills and trusts? How can the owner remain mentally challenged? A comprehensive wealth management strategy should bring together all of these components. Importantly, like planning for the sale itself, it should not be left to the last minute. Impact on community: Companies. impacts on the host communities where they operate do not abruptly end when they close down operations and go home. Rather, the way in which companies depart has a significant impact that can linger long after the mine or plant has closed. Three of the most common impacts on communities are: Decrease in economic status. Often a company is one of few sources of income for a community, if not the only one. A company.s closure can represent a return to economic hardship for its host community. Decrease in company-provided services. Companies often bring services that were not previously present, such as hospitals or road maintenance. Decrease in social status. The departure of a company can lead to a decrease in a social status that corporate resources had elevated. Most companies do not give enough attention to the impact that their departure may have on surrounding communities, or how to manage that impact. Some companies do not consider an exit plan until operations draw to a close. Other companies plan an exit plan early on, but do not revise the strategy based on ongoing analysis. COMMON PITFALLS SURROUNDING DEPARTURE 1. Companies do not sufficiently prepare communities for what to expect when they depart. 2. Companies only strategy for ensuring sustainability of social programs is that the government will take over. 3. Companies decrease community relations budgets as time for closure approaches, but the need for services does not decrease. 4. Companies leave behind infrastructure that is unsuited to community needs. The Right strategy Include an exit strategy in the design of any new project. the manner in which a company wishes to leave its corporate site behind after its departure determines the manner in which it develops a project, even if the departure date lies several decades ahead.Engage communities in discussing impacts and planning closure. Talk with affectedcommunities about the present and the future. By planning together, the community will understand the process, and can have buy-in on decisions made.Solicit a range of perspectives and views in order to assist groups in appropriate ways. Companies can identify surrounding communities. views of the future by engaging community members in planning closure. Use care when choosing language and framing exit strategies. The ways in which a company.s key events are presented and discussed will influence how those events are perceived. Closure is no exception. Use tangible and visible short-term objectives that build toward goals for departure. While long-term vision is necessary, companies risk overlooking concrete, short-term actions that will be necessary to reach future goals. Impact on Customers: When a company is planning to make an exit, the society at large will get affected. The extent to which customers are affected cant be quantified. The kind of problems that the customers likely to face are Unavailability of the product or service No other alternatives available Lack of customer support (for product or service) There are various ways by which these issues can be tackled. Some of the possible ways are, The company making a tie-up with other company which offers similar product. So,that similar products are being manufactured for the old customers. Having a tie-up with companies to offer customer support services (even after companies exit. Creating a forum to address the needs of the past customers.