Ways of raising finance in different types of business

To earn money it’s necessary to invest them at first. The more is planning to earn, the more it’s necessary to invest.

In other words, money makes money. Basic ways of raising finance are:

-credits;

-investments;

-sponsorship;

-leasing

Credit is a loan of financial and national recourses with a return. Credit can be given by private person, bank and the state. All types of credits are regulated by legislation.

So, if you’re going to take a credit, you need to learn laws.

           Investments are loan of recourses too. But a return of investments is making only in case of profit.

To be an investor could be any interested person, individuals, finance organizations and the state. Relationships between investors and businessman are regulated, but many things are depend on personal agreements.

Leasing is a rent of fixed assets. Businessman can take it at a specializing company. Distinction from usual rent is in legislation. Moreover, equipment getting by leasing through the time becomes a property of businessman.

           Sponsorship can give financial recourses, equipment. Sponsor expects not a profit from a businessman’s activity; he pursues its own benefits. Usually, sponsor is large companies for making its image, increasing of influence on the target market.

2.3

The profit for any enterprise is the difference between revenues and expenditures for the period. Our company is engaged in consulting projects and almost all of our projects are reduced to a simple problem - increasing the profits of the enterprise. Whether the problem is to increase revenue, which - in order to ultimately increase the profits of the enterprise. Whether it is the task of optimizing the operation of the company, business processes, reduce costs - also for the fact that to increase the profits of the enterprise.

Factors affecting the increase in profits

The main factors affecting the decrease in revenue, are: The absence of a clear strategy for the enterprise; Not aligned business processes; Blurring of responsibility and authority; Lack of motivation; Lack of planning; The lack of timely accounting transparency.

Increase profits by reducing costs

The most obvious way to increase profits which seek refuge managers are reducing costs, wages, population, etc. We believe that this is premature, if not defined strategy and vision of the future of the enterprise. If your strategy was listed turnover increase by 2-3 times in the near future, it is likely that the fixed costs rise, the number of staff also need a little more. Therefore, to reduce the staff may be premature, it may be necessary just to send it to the solution of the required tasks, motivate you in the right amounts. As fixed costs it makes sense to establish a clear record and normalize them.

Methods and ways to increase profits

First, in life there are always companies that congestion in one area then another, then the suffering acceptance of orders, the supply, production, and so it is important to solve problems in the first place on the narrow stretch of limiting the growth in sales volumes. If you sell everything you produce, decide the question of how to produce more if it is impossible to optimize production, then you need to find additional production or suppliers, etc. Second, identify the strengths and strengthen their businesses, so that would be your strengths are - the undisputed competitive advantage and feature of your business.Third, to increase profits, it is necessary to solve the basic questions that should have been done a long time, but for some reason they were deposited.

Determinants of success of a project to increase profits

The determining factor in the success of the project to increase profits, a strong desire to grow leaders and get great results, ready for the upcoming leadership changes, willingness to change if necessary, personnel, etc. Intention of management to increase profits should be unconditional. If the owner or manager decides to move to a new level, and for this it is necessary to change the enterprise business processes, the format operation, organizational structure, then the management decision shall not affect the desire or the desire of employees to change their preferred habitat.

3.1

The problem of good`s quality isn`t new, because every day we have a possibility to see bad-quality goods in markets. And today I`d like to tell you about quality in various aspects.

First of all, quality is the elimination of variation or conformity to specification things should turn out as they were designed and intended to be.

For assessment of level of quality are used a system of characteristic of high-quality goods. Of course, its different for every type of production, but universal partly and the most important are technical indicators:

1. Indicators of use (functional requirements). Characterize the ability of products to effectively perform its function. They can be divided into the following groups:

· performance requirements. Indicators include the necessary power, capacity, speed and other developed that characterize the function performed;

· efficiency requirements. Characterize the degree of efficiency of use of the product as intended, such as energy performance (efficiency losses), kinematic (movement accuracy), power (the stability of the load), etc.;

· design requirements. Characterize the advantages of the chosen design, such as weight and dimensions;

2. Reliability. Consist of a combination of the following properties:

· durability;

· maintainability;

· persistence;

3. Performance ergonomics. Characterize the properties of the social product as part of the man-machine systems: the preservation of human health through the increased ease of use (conformity of anthropometric, psychosocial, psychological, psycho-physiological and hygienic measures), the full development of human personality;

4. The safety record. Characterize the possible exception of accidents during normal and unskilled work, with random acts of man and the impact of the environment, emergency and extreme situations, as well as in the manufacture of products (on a standard, and especially dangerous work). Types of safety: chemicals, radiation, mechanical, electrical, magnetic, electromagnetic, thermal, sanitary, fire;

5. Indicators of environmental performance. Characterize the fitness of the product to coexist with nature and habitat of living organisms, to share with them the energy (for example, the impact of heat into the surrounding space), a substance (eg, food contamination environment deterioration, leakage of lubricating oils) and signals (eg, izdavanie whistle, noise);

6. Indicators of aesthetics. Characterize the expression of beauty in external images of the product: the expressiveness of information, rational form, perfection of execution, the stability of the presentation, the integrity of the species;

7. Indicators of utilization. Describe ways to eliminate the product at the end of its operation during the removal and proper disposal;

8. Design and technology indicators. Characterize the effectiveness of technical solutions. Includes the following indicators:

· levels of standardization and continuity;

· indicators of adaptability. Characterize the possibility of producing goods (manufacturing and assembly with the specified quality level) with the lowest production costs in the shortest possible time;

· Indicators of transportability. Characterize the properties of the product at minimal cost to move it in space (within the production facilities, from the producer to the seller and, further, to the consumer), for example, the average batch discharge from the car, the maximum capacity utilization of the vehicle;

· performance persistence. Characterize the ability of the product does not depend (to be protected) from the adverse effects of the environment (climate, accidental or intentional).

It`s understandable that things are better made today than 20 years ago, and even small manufacturing companies apply for the certification of the certification of the international organization of standardization.

ISO 9000 is a series of international standards that that describe the requirements for management system of quality.

A series of ISO was developed by the Technical Committee 176 of the International Organization for Standardization (ISO).

A series of ISO 9000 was revised several times:

1. the first version was prepared in 1987

2. the second was released in 1994

3. the third was developed in 2000. Version 1994 has been radically revised

4. the fourth version of the standards published in 2005

Output of the fifth version of standards planned for 2012.

ISO 9000 adopted by more than 190 countries around the world as a national.

Certificate of compliance with ISO 9000 requires companies:

1. operating in such markets or with such customers that require such a certificate;

2. working in the sectors of the economy, public or corporate controlled so that the Certificate of ISO 9000 is required.

And in conclusion I`d like to say that good`s quality is the biggest problem in Russia. We have been trying to join the WTO for 18 years, because there is no effective certification of products, to my mind. I don`t know how and when our government will think about changing of a system, but not only dream of it will the best by itself. I think we need more strict low of production. First of all, don`t give licenses and insurances to irresponsible entrepreneurs for money and may be it will be better in Russia.

3.2

3.3

Concept of quality - historical background

The concept of quality as we think of it now first emerged out of the Industrial Revolution. Previously goods had been made from start to finish by the same person or team of people, with handcrafting and tweaking the product to meet 'quality criteria'. Mass production brought huge teams of people together to work on specific stages of production where one person would not necessarily complete a product from start to finish. In the late 19th century pioneers such as Frederick Winslow Taylor and Henry Ford recognized the limitations of the methods being used in mass production at the time and the subsequent varying quality of output. Birland established Quality Departments to oversee the quality of production and rectifying of errors, and Ford emphasized standardization of design and component standards to ensure a standard product was produced. Management of quality was the responsibility of the Quality department and was implemented by Inspection of product output to 'catch' defects.

Application of statistical control came later as a result of World War production methods, and were advanced by the work done of W. Edwards Deming, a statistician, after whom the Deming Prize for quality is named. Joseph M. Juran focused more on managing for quality. The first edition of Juran's Quality Control Handbook was published in 1951. He also developed the " Juran's trilogy, " an approach to cross-functional management that is composed of three managerial processes: quality planning, quality control and quality improvement. These functions all play a vital role when evaluating quality.

Quality, as a profession and the managerial process associated with the quality function, was introduced during the second-half of the 20th century, and has evolved since then. Over this period, few other disciplines have seen as many changes as the quality profession.

The quality profession grew from simple control, to engineering, to systems engineering. Quality control activities were predominant in the 1940s, 1950s, and 1960s. The 1970s were an era of quality engineering and the 1990s saw quality systems as an emerging field. Like medicine, accounting, and engineering, quality has achieved status as a recognized profession.

К ЭТОМУ ВОПРОСУ + ТЕКСТ ИЗ УЧЕБНИКА СТР.87

3.4

An organisation’s achieving profitability by satisfying employees, customers and society as a result of

active participation of the employees and continious improvement in all processes.

 

Parties

 

· Hotelowners

· Employees

· Guests

· Society

 

Expectations of Hotel owners

 

1. High profit

2. High quality service

3. Guest loyalty

4. Continuity

5. Governmentpolicies

 

Expectations of Employees’

 

1. Continuity

2. Suitable salary policies

3. On time payment

4. Socialrightsandopportunities

 

Expectations of Guests’

 

1. High quality goods & services

(cleanings, food& beverages, entertainment,

sports, security, technical equipment …)

2. Continuity

3. Improvement

4. Involvement

5. Whatever they have in their dreams

 

Expectations of Society

 

1. Contribution to the economy

2. Creating Employment Opportunities

3. Cultural Enrichment

4. Continuity

 

Everyone concentrates on continuity.

 

Conditions for obtaining continuity ( sustainability )

 

_ Government policies

_ Existence of vision in the organisations

_ Quality & system perspective of the

organisation

_ Opportunities for training & development

_ Planning The Sources

_ Correct sales policies

_ Employment of the suitable personnel

 

Government Policies

 

_ A consistent policy for tourism. ( publicity, marketing, municipalities, infrastructure)

_ Following the changes

_ Supporting innovation

_ To internalize the modern

approaches for management

_ Creating an atmosphere for

continuous improvement

 

Vision in the Organisations

 

_ Following the changes

_ Supporting innovation

_ To internalize the modern

approaches for management

_ Creating an atmosphere for

continuous improvement

 

Quality & System Perspective

of the Organisations

 

_ A planned work arrangement

_ Proactive approach

_ Obtaining of healthy communication between different types of processes

_ A shared common sensitivity

_ A system that is independent of the persons, yet including the persons.

_ Ability of following the results for the relevant planned activities

_ HUMAN FIRST

 

Training, Development and Selection of Personnel

 

_ Difficulty of finding qualified personnel

_ Difficulty of finding managers open to improvement

_ Difficulty of creating the time, man and money sources for training

_ The place of training conscious in the culture of the organisation

_ Seasonal changes for personnel turnover and its reflection on the service quality

_ Communication problems of the people from different cultural and educational level as of being at the same management situation

 

Correct Sales Policies

 

_ Adaptation to the market conditions effected by repeating crisis.

_ Cooperating with the suitable markets.

_ Negative effects of the rate changes over the budget limitations, caused by the market competitions

(consultancy, training programs)

 

Advantages – Disadvantages for TQM

 

_ There is always “ something ” to be done to overcome crisis that arise continiously

_ We are selling a dream, expectations of the guests are unlimited

_ We are always face to face with the guest

_ We are naturally guest-focused.

_ A labor-based work branch

_ Circulation of staff

_ Long working hours that are exhausting

 

Main targets of quality management in hotel industry

 

_ A leader that supports participation

_ Correct sales policies

_ Targets that are monitored

_ Making changes

Unconditional guest satisfaction

_ Weekly evaluations and improvements

_ Continious trainings

_ Conscious of system

_ Audits

_ Conscious of Quality

 

5 MANAGEMENT SYSTEMS FOR THE 5 STAR HOTEL

_ Quality Management System

_ Food Safety Management System

_ Occupational Health & Safety Management System

_ Environmental Management System

_ Customer Satisfaction & Complaint Management System

 

Quality Management System

 

_ Defining the quality policy.

_ Creating a documentation and registration system.

_ Evaluating functional units as processes. Performance criterias and targets are set and monitored.

Holding questionnaires for the Guests, Employees, Travel Agencies, Suppliers and cross functional one for department heads.

_ Making internal and external audits. (for 5 systems )

_ Following corrective and preventive actions (for 5 systems)

_ Following nonconforming products & service (for 5 systems)

_ Training plans (basic trainings for 5 systems, personel development, communications, internal trainings

for departments, on the job trainings)

 

Food Safety Management System

 

_ Defining Prerequisite programs.

_ Making risk analysis, HACCP plans

_ Setting critical control points

_ Microbiologically analysis of the food they produce, including water.

_ Directing & following the allergic guests

_ Monthly (or more often) informing audits by an independent company for food safety.

_ Having daily food engineers’ audits

_ Planning basic hygiene trainings and on job trainings.

 

Occupational Health & Safety Management System

 

_ Applying the legal conditions.

_ Setting the risks and planned the actions.

_ Setting the rules for working areas and putting warnings.

_ Following the state of health of the employees by company doctor.

_ Making routine health controls for our employees, even not asked legally. (eye)

_ Health & Safety Committee consists of volunteer personnels of different departments who are

reporting in written.

_ Registry industrial accident, occupational disease, doctor examines and incidents

 

Environmental Management System

_ Applying the legal conditions.

_ Setting the risks and planning the actions.Keeping the use of natural sources under control.

_ _ Giving trainings on environment.

_ Setting apart our waste as organics, glass, metal, plastic, paper, vegetable oil and hazardeous waste.

_ Noise, emission of chimneys, emissions of vehicles, grounding, pressure of compressors, discharge of sewing works should be measured and followed. (common with OHSAS )

_ Having Environment Committee which consists of volunteer personnels of different departments

 

Customer Satisfaction & Complaint Management System

_ Making basic system trainings and communication trainings on “ Changing the Complaints to Satisfaction ”for the personnels of different departments

_ “Your criticism is a gift for us! ” should be your slogan

_ Personnel with these special rosettes have mission of accepting complaints and passing them to Guest Relations.

_ Following complaints, suggestions and demands previously, registering them

_ Setting performance periods. ( Day& night )

1. Time between accepting the complaint and informing Guest

Relations.

2. Time between Guest Relations’ being informed and passing

the complaint to relevant department

3. Time for the solution of the department

4. Time for Guest Relations’ returning to the guest.

 

TQM is a set of management practices throughout the organization, geared to ensure the organization consistently meets or exceeds customer requirements. TQM places strong focus on process measurement and controls as means of continuous improvement.

Before reading more about TQM, it might be helpful to quickly review the major forms of quality management in an organization. These are briefly described at the top of the Quality Management topic.

7 Important Principles of Total Quality Management

© Copyright Quin Harris

Total Quality Management (TQM) is an approach that organizations use to improve their internal processes and increase customer satisfaction. When it is properly implemented, this style of management can lead to decreased costs related to corrective or preventative maintenance, better overall performance, and an increased number of happy and loyal customers.

However, TQM is not something that happens overnight. While there are a number of software solutions that will help organizations quickly start to implement a quality management system, there are some underlying philosophies that the company must integrate throughout every department of the company and at every level of management. Whatever other resources you use, you should adopt these seven important principles of Total Quality Management as a foundation for all your activities.

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