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How to Write a Great Business Plan. Every seasoned investor knows that detailed financial projections for a new company are an act of imagination. Nevertheless, most business plans pour far too much ink on the numbers–and far too little on the information that really matters. Essay! Why? William Sahlman suggests that a great business plan is one that focuses on a series of questions. These questions relate to the four factors critical to the success of every new venture: the people, the opportunity, the context, and the possibilities for both risk and reward.
The questions about people revolve around three issues: What do they know? Whom do they know? and How well are they known? As for opportunity, the plan should focus on two questions: Is the market for the venture’s product or service large or rapidly growing (or preferably both)? and Is the industry structurally attractive? Then, in addition to demonstrating an understanding of the down context in which their venture will operate, entrepreneurs should make clear how they will respond when that context inevitably changes. Finally, the theory of human plan should look unflinchingly at the risks the new venture faces, giving would-be backers a realistic idea of what magnitude of down my resume reward they can expect and when they can expect it. A great business plan is not easy to compose, Sahlman acknowledges, largely because most entrepreneurs are wild-eyed optimists. Theory Development! But one that asks the down my resume right questions is a powerful tool. A better deal, not to of human essay, mention a better shot at success, awaits entrepreneurs who use it.
Few areas of business attract as much attention as new ventures, and few aspects of new-venture creation attract as much attention as the business plan. Countless books and articles in the popular press dissect the topic. A growing number of annual business-plan contests are springing up across the United States and, increasingly, in other countries. He Is Critical! Both graduate and undergraduate schools devote entire courses to the subject. Indeed, judging by theory development all the hoopla surrounding business plans, you would think that the only things standing between a would-be entrepreneur and spectacular success are glossy five-color charts, a bundle of essay help group meticulous-looking spreadsheets, and a decade of theory development essay month-by-month financial projections. Nothing could be further from the truth. In my experience with hundreds of entrepreneurial startups, business plans rank no higher than 2—on a scale from 1 to good roles, 10—as a predictor of development a new venture’s success. And sometimes, in fact, the dissertation more elaborately crafted the document, the more likely the of human development essay venture is to, well, flop, for lack of a more euphemistic word. What’s wrong with most business plans? The answer is relatively straightforward.
Most waste too much ink on numbers and devote too little to the information that really matters to intelligent investors. Help Group! As every seasoned investor knows, financial projections for a new company—especially detailed, month-by-month projections that stretch out for more than a year—are an act of imagination. Essay! An entrepreneurial venture faces far too many unknowns to predict revenues, let alone profits. Moreover, few if any entrepreneurs correctly anticipate how much capital and time will be required to accomplish their objectives. Spm Continuous! Typically, they are wildly optimistic, padding their projections. Development! Investors know about the spm continuous writing story padding effect and theory development essay therefore discount the figures in essay spm continuous writing story, business plans. These maneuvers create a vicious circle of development essay inaccuracy that benefits no one. Don’t misunderstand me: business plans should include some numbers. But those numbers should appear mainly in thesis gender, the form of a business model that shows the theory of human development entrepreneurial team has thought through the key drivers of the venture’s success or failure. In manufacturing, such a driver might be the yield on a production process; in magazine publishing, the anticipated renewal rate; or in software, the impact of using various distribution channels. The model should also address the break-even issue: At what level of essay self sales does the business begin to make a profit?
And even more important, When does cash flow turn positive? Without a doubt, these questions deserve a few pages in any business plan. Near the back. What goes at theory of human development essay the front? What information does a good business plan contain? If you want to speak the he is critical language of of human investors—and also make sure you have asked yourself the right questions before setting out on the most daunting journey of a businessperson’s career—I recommend basing your business plan on the framework that follows. On Modernization In India! It does not provide the kind of theory “winning” formula touted by some current how-to books and software programs for entrepreneurs. On Modernization! Nor is it a guide to theory of human development, brain surgery. Rather, the framework systematically assesses the four interdependent factors critical to every new venture: The People.
The men and women starting and running the cross-culture venture, as well as the outside parties providing key services or important resources for it, such as its lawyers, accountants, and suppliers. The Opportunity. Theory Of Human Development! A profile of the business itself—what it will sell and to whom, whether the business can grow and how fast, what its economics are, who and what stand in essay story, the way of success. The Context. The big picture—the regulatory environment, interest rates, demographic trends, inflation, and the like—basically, factors that inevitably change but cannot be controlled by theory of human essay the entrepreneur. Risk and Reward. An assessment of everything that can go wrong and right, and a discussion of how the entrepreneurial team can respond. Business Plans: For Entrepreneurs Only? The accompanying article talks mainly about business plans in a familiar context, as a tool for entrepreneurs. But quite often, start-ups are launched within established companies.
Do those new ventures require business plans? And if they do, should they be different from the plans entrepreneurs put together? The answer to self help, the first question is an emphatic yes; the theory of human essay answer to the second, an equally emphatic no. All new ventures—whether they are funded by venture capitalists or, as is the case with intrapreneurial businesses, by shareholders—need to pass the same acid tests. After all, the marketplace does not differentiate between products or services based on who is pouring money into them behind the scenes. The fact is, intrapreneurial ventures need every bit as much analysis as entrepreneurial ones do, yet they rarely receive it. Instead, inside big companies, new businesses get proposed in the form of capital-budgeting requests. These faceless documents are subject to detailed financial scrutiny and he is critical a consensus-building process, as the project wends its way through the chain of command, what I call the “neutron bomb” model of project governance.
However, in the history of such proposals, a plan never has been submitted that did not promise returns in excess of corporate hurdle rates. It is only after the new business is launched that these numbers explode at the organization’s front door. That problem could be avoided in large part if intrapreneurial ventures followed the guidelines set out in the accompanying article. For instance, business plans for such a venture should begin with the résumés of all the people involved. What has the team done in the past that would suggest it would be successful in the future, and so on? In addition, the new venture’s product or service should be fully analyzed in development, terms of its opportunity and dissertation context. Development! Going through the process forces a kind of essay spm continuous writing discipline that identifies weaknesses and strengths early on theory of human development and helps managers address both. It also helps enormously if such discipline continues after the intrapreneurial venture lifts off.
When professional venture capitalists invest in new companies, they track performance as a matter of down course. But in large companies, scrutiny of a new venture is often inconsistent. Theory Development Essay! That shouldn’t or needn’t be the case. A business plan helps managers ask such questions as: How is the new venture doing relative to projections? What decisions has the team made in thesis roles, response to new information?
Have changes in the context made additional funding necessary? How could the team have predicted those changes? Such questions not only theory of human development essay, keep a new venture running smoothly but also help an organization learn from its mistakes and triumphs. Many successful companies have been built with the help of he is critical venture capitalists. Many of the underlying opportunities could have been exploited by of human development essay large companies. Why weren’t they?
Perhaps useful lessons can be learned by studying the world of he is critical independent ventures, one lesson being: Write a great business plan. The assumption behind the framework is that great businesses have attributes that are easy to identify but hard to assemble. They have an experienced, energetic managerial team from the theory of human top to the bottom. The team’s members have skills and experiences directly relevant to the opportunity they are pursuing. Ideally, they will have worked successfully together in the past. The opportunity has an self help, attractive, sustainable business model; it is possible to create a competitive edge and defend it. Development Essay! Many options exist for expanding the scale and scope of the business, and these options are unique to the enterprise and its team. Value can be extracted from the business in a number of ways either through a positive harvest event—a sale—or by scaling down or liquidating.
The context is favorable with respect to both the regulatory and the macro-economic environments. Risk is understood, and the team has considered ways to mitigate the impact of dissertation difficult events. In short, great businesses have the four parts of the framework completely covered. If only reality were so neat. When I receive a business plan, I always read the résumé section first. Development Essay! Not because the people part of the new venture is the most important, but because without the dumb down my resume right team, none of the other parts really matters.
I read the of human development résumés of the good thesis gender roles venture’s team with a list of questions in mind. (See the insert “Who Are These People, Anyway?”) All these questions get at the same three issues about the venture’s team members: What do they know? Whom do they know? and How well are they known? Fourteen “Personal” Questions Every Business Plan Should Answer. Where are the founders from? Where have they been educated? Where have they worked—and for development whom? What have they accomplished—professionally and personally—in the past? What is their reputation within the business community?
What experience do they have that is directly relevant to the opportunity they are pursuing? What skills, abilities, and knowledge do they have? How realistic are they about the venture’s chances for success and the tribulations it will face? Who else needs to be on the team? Are they prepared to recruit high-quality people? How will they respond to down, adversity? Do they have the mettle to make the inevitable hard choices that have to be made? How committed are they to this venture? What are their motivations? What and whom they know are matters of insight and experience.
How familiar are the team members with industry players and dynamics? Investors, not surprisingly, value managers who have been around the block a few times. A business plan should candidly describe each team member’s knowledge of the new venture’s type of product or service; its production processes; and the market itself, from competitors to development essay, customers. On Modernization! It also helps to indicate whether the team members have worked together before. Development! Not played—as in essay on modernization, roomed together in theory of human essay, college—but worked . Investors also look favorably on a team that is known because the real world often prefers not to deal with start-ups. They’re too unpredictable. That changes, however, when the new company is run by people well known to thesis about, suppliers, customers, and employees. Their enterprise may be brand new, but they aren’t.
The surprise element of working with a start-up is somewhat ameliorated. Finally, the people part of a business plan should receive special care because, simply stated, that’s where most intelligent investors focus their attention. A typical professional venture-capital firm receives approximately 2,000 business plans per year. These plans are filled with tantalizing ideas for new products and services that will change the theory of human essay world and reap billions in the process—or so they say. But the down fact is, most venture capitalists believe that ideas are a dime a dozen: only execution skills count. As Arthur Rock, a venture capital legend associated with the formation of such companies as Apple, Intel, and Teledyne, states, “I invest in people, not ideas.” Rock also has said, “If you can find good people, if they’re wrong about the product, they’ll make a switch, so what good is of human development essay, it to understand the product that they’re talking about in good roles, the first place?” Business plan writers should keep this admonition in of human, mind as they craft their proposal. Essay! Talk about the people—exhaustively. Of Human! And if there is nothing solid about their experience and abilities to dissertation, herald, then the entrepreneurial team should think again about launching the venture. When it comes to the opportunity itself, a good business plan begins by development focusing on help group two questions: Is the total market for the venture’s product or service large, rapidly growing, or both?
Is the industry now, or can it become, structurally attractive? Entrepreneurs and investors look for large or rapidly growing markets mainly because it is often easier to obtain a share of a growing market than to fight with entrenched competitors for a share of a mature or stagnant market. Smart investors, in fact, try hard to development, identify high-growth-potential markets early in their evolution: that’s where the big payoffs are. And, indeed, many will not invest in a company that cannot reach a significant scale (that is, $ 50 million in annual revenues) within five years. HBR Guide to Building Your Business Case Ebook + Tools. As for attractiveness, investors are obviously looking for markets that actually allow businesses to make some money. Writing! But that’s not the no-brainer it seems.
In the late 1970s, the computer disk-drive business looked very attractive. The technology was new and exciting. Dozens of companies jumped into the fray, aided by an army of professional investors. Twenty years later, however, the thrill is gone for managers and investors alike. Disk drive companies must design products to meet the theory of human essay perceived needs of original equipment manufacturers (OEMs) and essay end users. Selling a product to theory, OEMs is complicated. The customers are large relative to most of in india their suppliers. There are lots of of human competitors, each with similar high-quality offerings.
Moreover, product life cycles are short and ongoing technology investments high. The industry is essay help group, subject to major shifts in technology and customer needs. Intense rivalry leads to lower prices and, hence, lower margins. In short, the disk drive industry is simply not set up to make people a lot of money; it’s a structural disaster area. The information services industry, by theory of human development contrast, is paradise. Companies such as Bloomberg Financial Markets and First Call Corporation, which provide data to the financial world, have virtually every competitive advantage on their side. First, they can assemble or create proprietary content—content that, by the way, is he is critical, like life’s blood to thousands of money managers and stock analysts around the world. And although it is often expensive to develop the service and to acquire initial customers, once up and running, these companies can deliver content to theory development, customers very cheaply.
Also, customers pay in advance of receiving the service, which makes cash flow very handsome, indeed. In short, the structure of the information services industry is beyond attractive: it’s gorgeous. The profit margins of Bloomberg and First Call put the disk drive business to shame. The Opportunity of a Lifetime—or Is It? Nine Questions About the Business Every Business Plan Should Answer. Who is the new venture’s customer?
How does the customer make decisions about buying this product or service? To what degree is the he is critical product or service a compelling purchase for the customer? How will the product or service be priced? How will the venture reach all the identified customer segments? How much does it cost (in time and theory of human development resources) to acquire a customer? How much does it cost to produce and deliver the product or service? How much does it cost to cross-culture dissertation, support a customer? How easy is it to retain a customer? Thus, the first step for of human entrepreneurs is to make sure they are entering an industry that is large and/or growing, and self one that’s structurally attractive. The second step is to make sure their business plan rigorously describes how this is the case. And if it isn’t the case, their business plan needs to specify how the venture will still manage to make enough of a profit that investors (or potential employees or suppliers, for that matter) will want to participate.
Once it examines the new venture’s industry, a business plan must describe in detail how the company will build and launch its product or service into the marketplace. Again, a series of questions should guide the discussion. (See the insert “The Opportunity of a Lifetime—or Is It?”) Often the answers to these questions reveal a fatal flaw in the business. Theory! I’ve seen entrepreneurs with a “great” product discover, for example, that it’s simply too costly to find customers who can and will buy what they are selling. Essay Group! Economically viable access to customers is the development key to business, yet many entrepreneurs take the in india Field of Dreams approach to of human development, this notion: build it, and help group they will come. Theory Of Human Essay! That strategy works in the movies but is self help group, not very sensible in the real world. It is not always easy to answer questions about the likely consumer response to of human development essay, new products or services. Down! The market is as fickle as it is unpredictable. Of Human Development! (Who would have guessed that plug-in room deodorizers would sell?) One entrepreneur I know proposed to introduce an electronic news-clipping service. He made his pitch to a prospective venture-capital investor who rejected the plan, stating, “I just don’t think the dogs will eat the dog food.” Later, when the entrepreneur’s company went public, he sent the venture capitalist an anonymous package containing an empty can of dog food and a copy of his prospectus. Roles! If it were easy to predict what people will buy, there wouldn’t be any opportunities. The market is as fickle as it is unpredictable.
Who would have guessed that plug-in room deodorizers would sell? Similarly, it is tough to guess how much people will pay for something, but a business plan must address that topic. Sometimes, the dogs will eat the dog food, but only at a price less than cost. Theory Of Human Development Essay! Investors always look for opportunities for value pricing—that is, markets in which the costs to produce the product are low, but consumers will still pay a lot for it. No one is dying to invest in a company when margins are skinny. Still, there is money to be made in inexpensive products and services—even in commodities. A business plan must demonstrate that careful consideration has been given to the new venture’s pricing scheme. The list of questions about the new venture’s opportunity focuses on the direct revenues and help group the costs of producing and marketing a product. That’s fine, as far as it goes. A sensible proposal, however, also involves assessing the theory essay business model from a perspective that takes into account the investment required—that is, the balance sheet side of the equation.
The following questions should also be addressed so that investors can understand the cash flow implications of pursuing an opportunity: When does the on modernization in india business have to buy resources, such as supplies, raw materials, and people? When does the business have to theory essay, pay for them? How long does it take to acquire a customer? How long before the customer sends the business a check? How much capital equipment is required to writing story, support a dollar of theory of human sales? Investors, of course, are looking for businesses in which management can buy low, sell high, collect early, and pay late. The business plan needs to spell out how close to that ideal the new venture is expected to come. Even if the thesis answer is theory of human, “not very”—and it usually is—at least the truth is out there to thesis gender roles, discuss. The opportunity section of a business plan must also bring a few other issues to the surface.
First, it must demonstrate and analyze how an opportunity can grow—in other words, how the new venture can expand its range of products or services, customer base, or geographic scope. Often, companies are able to create virtual pipelines that support the economically viable creation of new revenue streams. Essay! In the publishing business, for example, Inc. magazine has expanded its product line to include seminars, books, and videos about entrepreneurship. Essay Writing! Similarly, building on the success of its personal-finance software program Quicken, Intuit now sells software for electronic banking, small-business accounting, and tax preparation, as well as personal-printing supplies and on-line information services—to name just a few of its highly profitable ancillary spin-offs. Now, lots of business plans runneth over on the subject of the new venture’s potential for growth and expansion. But they should likewise runneth over in explaining how they won’t fall into some common opportunity traps. One of those has already been mentioned: industries that are at their core structurally unattractive. But there are others. Theory Of Human Development! The world of invention, for example, is essay, fraught with danger. Over the past 15 years, I have seen scores of individuals who have devised a better mousetrap—newfangled creations from inflatable pillows for use on airplanes to automated car-parking systems.
Few of these idea-driven companies have really taken off, however. Theory Development Essay! I’m not entirely sure why. Essay In India! Sometimes, the inventor refuses to spend the money required by essay or share the rewards sufficiently with the business side of the company. Other times, inventors become so preoccupied with their inventions they forget the customer. Whatever the he is critical reason, better-mousetrap businesses have an uncanny way of malfunctioning.
Another opportunity trap that business plans—and entrepreneurs in general—need to pay attention to theory development, is the he is critical tricky business of theory development arbitrage. Basically, arbitrage ventures are created to take advantage of some pricing disparity in on modernization in india, the marketplace. MCI Communications Corporation, for instance, was formed to offer long-distance service at a lower price than ATT. Some of the industry consolidations going on today reflect a different kind of of human essay arbitrage—the ability to buy small businesses at a wholesale price, roll them up together into he is critical a larger package, and theory essay take them public at a retail price, all without necessarily adding value in the process. Whatever the he is critical reason, better-mousetrap businesses have an uncanny way of malfunctioning. Taking advantage of arbitrage opportunities is theory of human, a viable and potentially profitable way to enter a business. In the final analysis, however, all arbitrage opportunities evaporate. It is not a question of whether, only group, when. Theory Of Human Development! The trick in down my resume, these businesses is to use the arbitrage profits to build a more enduring business model, and business plans must explain how and when that will occur. As for essay competition, it probably goes without saying that all business plans should carefully and thoroughly cover this territory, yet some don’t. That is a glaring omission.
For starters, every business plan should answer the following questions about the competition: Who are the new venture’s current competitors? What resources do they control? What are their strengths and dissertation weaknesses? How will they respond to the new venture’s decision to enter the business? How can the new venture respond to its competitors’ response? Who else might be able to observe and exploit the same opportunity?
Are there ways to essay, co-opt potential or actual competitors by forming alliances? Business is like chess: to be successful, you must anticipate several moves in advance. A business plan that describes an insuperable lead or a proprietary market position is by definition written by naïve people. That goes not just for the competition section of the business plan but for the entire discussion of the he is critical opportunity. Of Human Development Essay! All opportunities have promise; all have vulnerabilities.
A good business plan doesn’t whitewash the latter. Rather, it proves that the entrepreneurial team knows the good, the bad, and the ugly that the venture faces ahead. Opportunities exist in my resume, a context. At one level is the macroeconomic environment, including the level of economic activity, inflation, exchange rates, and interest rates. At another level are the essay wide range of he is critical government rules and regulations that affect the opportunity and how resources are marshaled to theory development, exploit it.
Examples extend from tax policy to the rules about raising capital for he is critical a private or public company. And at theory of human development essay yet another level are factors like technology that define the limits of what a business or its competitors can accomplish. Context often has a tremendous impact on every aspect of the entrepreneurial process, from identification of opportunity to harvest. Essay Self Help! In some cases, changes in some contextual factor create opportunity. Theory Development! More than 100 new companies were formed when the dissertation airline industry was deregulated in the late 1970s. The context for financing was also favorable, enabling new entrants like People Express to go to the public market for capital even before starting operations. Conversely, there are times when the context makes it hard to start new enterprises. The recession of the early 1990s combined with a difficult financing environment for new companies: venture capital disbursements were low, as was the amount of theory of human capital raised in essay on modernization in india, the public markets. (Paradoxically, those relatively tight conditions, which made it harder for new entrants to get going, were associated with very high investment returns later in the 1990s, as capital markets heated up.) Sometimes, a shift in context turns an unattractive business into an attractive one, and vice versa. Theory Of Human Development! Consider the case of a packaging company some years ago that was performing so poorly it was about to be put on he is critical the block. Then came the Tylenol-tampering incident, resulting in multiple deaths.
The packaging company happened to have an efficient mechanism for installing tamper-proof seals, and in development, a matter of weeks its financial performance could have been called spectacular. Conversely, U.S. tax reforms enacted in 1986 created havoc for companies in the real estate business, eliminating almost every positive incentive to invest. Many previously successful operations went out of business soon after the new rules were put in place. Every business plan should contain certain pieces of evidence related to context. First, the entrepreneurs should show a heightened awareness of the new venture’s context and how it helps or hinders their specific proposal. Second, and more important, they should demonstrate that they know the essay help venture’s context will inevitably change and describe how those changes might affect the business.
Further, the business plan should spell out what management can (and will) do in the event the context grows unfavorable. Finally, the business plan should explain the ways (if any) in which management can affect context in a positive way. For example, management might be able to have an impact on regulations or on industry standards through lobbying efforts. The concept that context is fluid leads directly to the fourth leg of the framework I propose: a discussion of risk and how to manage it. I’ve come to think of theory development a good business plan as a snapshot of an he is critical, event in the future. That’s quite a feat to begin with—taking a picture of the unknown. But the best business plans go beyond that; they are like movies of the future. They show the people, the opportunity, and the context from multiple angles.
They offer a plausible, coherent story of what lies ahead. They unfold possibilities of action and reaction. Good business plans, in other words, discuss people, opportunity, and context as a moving target. All three factors (and the relationship among them) are likely to change over time as a company evolves from start-up to essay, ongoing enterprise. Self Help Group! Therefore, any business plan worth the time it takes to write or read needs to focus attention on theory development essay the dynamic aspects of the entrepreneurial process. When it comes to essay, the matter of risk and of human essay reward in a new venture, a business plan benefits enormously from the help inclusion of two graphs. Perhaps graphs is the wrong word; these are really just schematic pictures that illustrate the most likely relationship between risk and reward, that is, the theory essay relationship between the opportunity and its economics. Group! High finance they are not, but I have found both of these pictures say more to investors than a hundred pages of charts and of human development prose.
The first picture depicts the amount of money needed to launch the new venture, time to positive cash flow, and the expected magnitude of the payoff. This image helps the investor understand the depth and duration of negative cash flow, as well as the relationship between the investment and the possible return. The ideal, needless to say, is to have cash flow early and often. But most investors are intrigued by the picture even when the cash outflow is he is critical, high and long—as long as the cash inflow is more so. Of course, since the world of new ventures is populated by wild-eyed optimists, you might expect the picture to display a shallower hole and development a steeper reward slope than it should. It usually does. But to be honest, even that kind of picture belongs in self group, the business plan because it is a fair warning to investors that the new venture’s team is theory of human essay, completely out of touch with reality and should be avoided at all costs. The second picture complements the first. It shows investors the range of possible returns and the likelihood of on modernization achieving them. The following example shows investors that there is a 15 % chance they would have been better off using their money as wall-paper. The flat section reveals that there is theory of human essay, a negligible chance of losing only a small amount of money; companies either fail big or create enough value to achieve a positive return.
The hump in the middle suggests that there is a significant chance of earning between 15 % and 45 % in the same time period. And finally, there is a small chance that the initial outlay of cash will spawn a 200 % internal rate of return, which might have occurred if you had happened to invest in Microsoft when it was a private company. Basically, this picture helps investors determine what class of investment the business plan is presenting. Is the new venture drilling for North Sea oil—highly risky with potentially big payoffs—or is it digging development wells in Texas, which happens to be less of a geological gamble and essay on modernization in india probably less lucrative, too? This image answers that kind of of human essay question. It’s then up to he is critical, the investors to theory of human development, decide how much risk they want to live with against what kind of odds. Again, the people who write business plans might be inclined to skew the picture to make it look as if the probability of a significant return is downright huge and the possibility of loss is essay help, negligible. And, again, I would say therein lies the picture’s beauty. What it claims, checked against the investor’s sense of reality and experience, should serve as a simple pictorial caveat emptor. Of course, the future is hard to development essay, predict. Still, it is possible to give potential investors a sense of the kind and class of risk and reward they are assuming with a new venture.
All it takes is a pencil and two simple drawings. (See the insert “Visualizing Risk and Reward.”) But even with these drawings, risk is, well, risky. In reality, there are no immutable distributions of outcomes. It is ultimately the he is critical responsibility of management to theory development, change the distribution, to increase the likelihood and essay self help group consequences of theory of human essay success, and to decrease the likelihood and implications of problems. One of the great myths about entrepreneurs is that they are risk seekers. All sane people want to avoid risk. As Harvard Business School professor (and venture capitalist) Howard Stevenson says, true entrepreneurs want to capture all the reward and cross-culture dissertation give all the risk to others. Theory Of Human Essay! The best business is a post office box to which people send cashier’s checks. Yet risk is unavoidable. So what does that mean for a business plan? It means that the essay spm continuous writing story plan must unflinchingly confront the risks ahead—in terms of people, opportunity, and context.
What happens if one of the new venture’s leaders leaves? What happens if a competitor responds with more ferocity than expected? What happens if there is a revolution in Namibia, the source of a key raw material? What will management actually do ? Those are hard questions for an entrepreneur to pose, especially when seeking capital. Of Human Development! But a better deal awaits those who do pose them and then provide solid answers. He Is Critical! A new venture, for of human example, might be highly leveraged and therefore very sensitive to interest rates. Its business plan would benefit enormously by on modernization in india stating that management intends to hedge its exposure through the financial-futures market by purchasing a contract that does well when interest rates go up. That is the equivalent of offering investors insurance. Of Human Development! (It also makes sense for the business itself.) Finally, one important area in the realm of risk/reward management relates to harvesting. Venture capitalists often ask if a company is dissertation, “IPOable,” by which they mean, Can the company be taken public at theory development essay some point in the future?
Some businesses are inherently difficult to thesis about gender roles, take public because doing so would reveal information that might harm its competitive position (for example, it would reveal profitability, thereby encouraging entry or angering customers or suppliers). Some ventures are not companies, but rather products—they are not sustainable as independent businesses. One of the greatest myths about entrepreneurs is theory development, that they are risk seekers. Cross-culture! All sane people want to avoid risk. Therefore, the business plan should talk candidly about the end of the process. How will the investor eventually get money out of the business, assuming it is successful, even if only marginally so? When professionals invest, they particularly like companies with a wide range of exit options. They like companies that work hard to preserve and enhance those options along the way, companies that don’t, for example, unthinkingly form alliances with big corporations that could someday actually buy them. Investors feel a lot better about risk if the venture’s endgame is discussed up front.
There is an old saying, “If you don’t know where you are going, any road will get you there.” In crafting sensible entrepreneurial strategies, just the opposite is true: you had better know where you might end up and have a map for getting there. A business plan should be the place where that map is of human development essay, drawn, for, as every traveler knows, a journey is a lot less risky when you have directions. Once a business plan is written, of dumb down my resume course, the development goal is to land a deal. That is a topic for another article in itself, but I will add a few words here. When I talk to young (and old) entrepreneurs looking to finance their ventures, they obsess about the valuation and my resume terms of the of human essay deal they will receive. Their explicit goal seems to be to minimize the dilution they will suffer in raising capital. Essay Writing Story! Implicitly, they are also looking for investors who will remain as passive as a tree while they go about development essay building their business. On the food chain of investors, it seems, doctors and dentists are best and venture capitalists are worst because of the degree to which the latter group demands control and down my resume a large share of the returns.
That notion—like the idea that excruciatingly detailed financial projections are useful—is nonsense. From whom you raise capital is often more important than the terms. New ventures are inherently risky, as I’ve noted; what can go wrong will. When that happens, unsophisticated investors panic, get angry, and often refuse to theory development essay, advance the essay company more money. Sophisticated investors, by contrast, roll up their sleeves and help the company solve its problems.
Often, they’ve had lots of theory of human essay experience saving sinking ships. They are typically process literate. They understand how to craft a sensible business strategy and a strong tactical plan. He Is Critical! They know how to recruit, compensate, and motivate team members. Of Human Development Essay! They are also familiar with the Byzantine ins and cross-culture outs of going public—an event most entrepreneurs face but once in a lifetime.
This kind of know-how is worth the money needed to buy it. There is an old expression directly relevant to entrepreneurial finance: “Too clever by half.” Often, deal makers get very creative, crafting all sorts of payoff and theory development essay option schemes. That usually backfires. My experience has proven again and again that sensible deals have the good thesis about gender roles following six characteristics: They do not blow apart if actual differs slightly from development, plan. Good About! They do not provide perverse incentives that will cause one or both parties to behave destructively. They are written on a pile of papers no greater than one-quarter inch thick. But even these six simple rules miss an important point. A deal should not be a static thing, a one-shot document that negotiates the disposition of a lump sum. Theory Of Human! Instead, it is incumbent upon entrepreneurs, before they go searching for funding, to think about capital acquisition as a dynamic process—to figure out how much money they will need and when they will need it. How is that accomplished?
The trick is for the entrepreneurial team to he is critical, treat the new venture as a series of theory of human experiments. Before launching the whole show, launch a little piece of it. Convene a focus group to test the product, build a prototype and watch it perform, conduct a regional or local rollout of a service. Such an exercise reveals the essay on modernization in india true economics of the business and of human essay can help enormously in determining how much money the roles new venture actually requires and in what stages. Entrepreneurs should raise enough, and investors should invest enough, capital to fund each major experiment. Experiments, of course, can feel expensive and risky.
But I’ve seen them prevent disasters and help create successes. I consider it a prerequisite of putting together a winning deal. Among the theory many sins committed by business plan writers is arrogance. In today’s economy, few ideas are truly proprietary. Moreover, there has never been a time in recorded history when the self supply of capital did not outrace the supply of theory opportunity. The true half-life of opportunity is essay spm continuous writing, decreasing with the passage of time. A business plan must not be an albatross that hangs around the neck of the entrepreneurial team, dragging it into oblivion.
Instead, a business plan must be a call for action, one that recognizes management’s responsibility to fix what is of human, broken proactively and in real time. Risk is dumb, inevitable, avoiding risk impossible. Risk management is the key, always tilting the venture in favor of reward and away from theory essay, risk. A plan must demonstrate mastery of the entire entrepreneurial process, from essay story, identification of opportunity to harvest. It is not a way to separate unsuspecting investors from their money by hiding the fatal flaw. For in the final analysis, the theory development only one being fooled is the entrepreneur. We live today in the golden age of entrepreneurship. Although Fortune 500 companies have shed 5 million jobs in the past 20 years, the overall economy has added almost 30 million. Many of those jobs were created by essay self help entrepreneurial ventures, such as Cisco Systems, Genentech, and of human development Microsoft.
Each of those companies started with a business plan. Is that why they succeeded? There is no knowing for sure. But there is little doubt that crafting a business plan so that it thoroughly and candidly addresses the ingredients of success—people, opportunity, context, and the risk/reward picture—is vitally important. In the absence of a crystal ball, in fact, a business plan built of the good thesis right information and analysis can only be called indispensable.
William A. Sahlman is the Dimitri V. D’Arbeloff-MBA Class of 1955 Professor of Business Administration at the Harvard Business School.
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Mountain Equipment Co-Op Essay Sample. The Societal Marketing concept is the orientation best exemplified by Mountain Equipment Co-Op (MEC). This is evident in the following ways: The company’s mission statement clearly outlines that passion is what drives their company, even over profit. The passion to continue to look for ways to protect our wild spaces and reduce the ecological footprint of their business. Theory Of Human! MEC separates itself from on modernization, other outdoor retailers through its eco-friendly product line and superior focus on corporate social responsibility. They urge society to count on development, them to act with integrity and due diligence. Although MEC’s goal is to make quality products for the outdoors, they will only do so by respecting the people who do the manufacturing of these products/items. They do this by ensuring there are safer working conditions, legal working hours, and reasonable pay for work done. Essay Spm Continuous! Secondly, the way in which Mountain Equipment Co-op operates its business and shows dedication not only to providing costumers with their needs but also focusing on a long standing environmental and economic sustainability. MEC is noted for of human development essay their ethical sourcing, labouring commitments and co-operative structure.
The co-op, designs and produces the majority of it’s gear while also carrying products by many other well-known companies. MEC strives for dissertation social and environmental leadership, In 2008 an theory of human essay impressive 92% of the annual waste generated by MEC was either: recycled, composted or donated. Good About Gender! That certainly goes a long way in strengthening societies long-term interests. Lastly, while Mountain Equipment Co-op bills itself as Canada’s largest supplier of outdoor equipment, its long-term challenge is to remain relevant to a quickly changing demographic that prefers urban outdoor experiences. In light of essay, this, MEC has expanded its assortment to essay self, now include such urban outdoor pursuits (road running, biking and yoga).
By adding these recently popular activities MEC feels they can really gain a tight strangle hold of the total market share. MEC has over 3.3 million members in Canada and internationally, operating in fifteen cities across Canada and continues to grow each year at theory essay, a slow methodical pace. Fulfilling the mission statement of “getting people outdoors” as eco-friendly as possible is something MEC continually strives for. Mountain Equipment Co-op employes many tactics to solidify customer loyalty, here are three examples: Every year, every member of Mountain Equipment Co-op has the opportunity to vote in the elections for it’s board of essay spm continuous, directors. The board is governed by nine-members, where each year three directors are elected to a three year term. Before the election period, an information package is distributed on of human development, a mass basis to all the MEC members before casting their votes. The election results are announced at the “annual general meeting” held in thesis gender roles Vancouver, British Columba. At this meeting, the theory of human development essay Chief Executive Officer discloses their annual reports and answers questions from co-op members. He Is Critical! To keep business you need to keep customers happy, to keep customers happy you need to cater to theory development essay, them, having them involved in the “annual general meeting” does just that. Building a team/organization are both great ways of getting people involved, MEC clearly values what their customers think. In the end without the he is critical customers you have nothing, this is a great tactic to solidify a true business relationship.
Secondly, Mountain Equipment Co-op sells outdoor recreation gear and clothing to it’s members exclusively. As a co-op, MEC sells only to customers who hold a lifetime membership, which is technically a share and can be purchased by anyone for five dollars. Members can shop at any of the retail stores, online or by mail order from of human, their catalogue. Roles! MEC also operates a corporate and group sales store which targets larger orders at essay, discounted prices. Yet again just another superior loyalty tactic to keep their customers interest vested.
The monetary fee is just clever business practice, the real idea behind this is to let the “potential market” know that MEC truly values your business and would like you to become apart of our business structure going forward. Lastly, Mountain Equipment Co-op has undertaken many business initiatives to solidify customer loyalty from top to cross-culture, bottom of the organization. Back in 1997, they introduced a free of charge online gear swap where members could recycle used outdoor gear. Development! In 2007, MEC opened the first accredited “Green” LEED(The Leadership in Energy and Environmental Design) distribution center in Surrey, British Columba. LEED encourages and accelerates global adoption of dumb down my resume, sustainable green building and development practices. In 2008, MEC developed and launched a series of annual national paddling and biking expositions. Its been clearly defined that MEC takes a very “Green” approach when it comes to business, this is something that directly plays into that target market. A self-propelled wilderness-oriented recreation goer would certainly buy into such strong values and ultimately stick by that company. One of Mountain Equipment Co-op’s key main marketing strategies is one of product leadership through supporting price, promotion and distribution strategies. This allows them to of human development, gain loyalty from their customer’s year after year.
MEC is a retail co-operative owned by those who shop at their stores. He Is Critical! They focus on creating value for their customers and not solely on making profit for their shareholders. As a co-operative, shopping at any of the MEC’s retail stores requires a membership for a small fee of five dollars. Anyone is essay able to join for life by paying the one time only membership fee which entitles the user too a multitude of benefits. First off, loyalty is gained from essay on modernization in india, promising fair prices on theory development essay, all of their merchandise. MEC states they do not have sales or limited time offers, all of their products are priced fairly. Manufacturing their own brands, MEC’s prices and dumb down margins are much lower than traditional retailers in their sector.
Where others might spend four to six percent of sales on theory essay, promotion, MEC spends much less, instead choosing to focus their efforts on personal selling and communication with their members through their annual catalogues and essay on modernization in india web site. MEC’s pricing policy also enables customers to price match if the same product is found at theory of human development, another Canadian-based retailer at a lower price, MEC will match the dumb my resume price up to 30 days after purchase. Not only does MEC provide fair pricing to theory essay, all of it’s members, customers can be assured the MEC products they purchase are being manufactured ethically, and in factories “that aspire to fair labour practices”. Through MEC’s “Ethical Sourcing Program”, they strive to improve the human condition in factories choosing only dumb my resume, those that do not participate in abuse of overtime, unlawful pay and unsafe working conditions. Since this is quite a common issue in today’s manufacturing world, primarily overseas, many customers can feel good about their purchases and remain loyal to theory, the MEC brand name. Another segmentation variable MEC focuses on is that of benefits sought by it’s customers. All of MEC’s customers rely on their equipment to perform and outlast in even the harshest of climates. MEC’s aim is to “provide quality gear and excellent value” for dissertation their customers and theory of human accomplishes this through their product design and testing.
This ensures all of their products will function up to and exceed the cross-culture customers’ expectations. MEC’s product design charter includes their principles of theory of human essay, design and product integrity through quality, function, value, social responsibility and reducing their environmental footprint. MEC has their very own testing labs which helps asses the cross-culture best available materials for their product designs. Choosing the right material not only improves the function of MEC gear, it helps them produce environmentally sustainable products which the customer also benefits from. After a product is designed, it is then field tested to help MEC refine the product and test the different fabrics and materials in the real world. Multimedia such as videos are also made of these tests by real life users and of human development posted on MEC’s website for help group other customers to theory of human essay, see. Overall, MEC’s approach is one that allows it’s customers to he is critical, take comfort in knowing their purchases will hold up to its ”rock solid” guarantee which states the development essay customer has a right to return anything that fails to on modernization, meet their expectations and will receive a no-hassle refund, exchange, credit, or repair.
Mountain Equipment Co-op does not focus solely on one specific type of outdoor adventurer but instead markets too many different active lifestyles and ages. Essay! From hard core adventurers, to casual campers, MEC markets to all different active lifestyles through a variety of different methods. On their website, MEC has a very large community which is built up of good thesis about, their over 3 million members which participate and organize many community events across Canada. They provide a venue where customers can post and signup for a variety of development essay, events from MEC Paddlefest, an annual celebration of canoeing and kayaking aim as a family event to more adventurous meetings aim to those 10-14 year old and specifically adults. No one age demographic is essay self help left out of MEC’s marketing strategy. This is also reflected in MEC’s line of products which includes kids clothes and gear right up to adult merchandise. MEC also provides a unique service for their customers who may no longer require their MEC products. Theory Of Human! Whether they have no more time to use a specific piece of down my resume, gear or if they simply need an upgrade, MEC’s website offers an inline gear swap. Not only does this help their customers find a use for their old and unwanted gear but also encourages people to recycle.
This service is free of charge and just another of the many benefits of having a Mountain Equipment Co-op membership. Successful in China: China is the fourth largest country on essay, earth and has one of the thesis about richest natural lands in the world. From mountains, including the peak of Mount Everest, to plateaus, and huge basins like the theory of human Yangtze river in dumb my resume the West, to the desserts of the Northwest, China’s vast landscape is development perfect for any adventurer. Unfortunately it also has it’s share of environmental problems. Much of it’s environment and wildlife has already been affected by it’s vastly growing population as well as it’s continual increase in industrial growth. MEC’s environmental policies and procedures would be a welcome change in China and perhaps act as a leader to other companies. MEC “strives for environmental leadership while providing quality products and down services.” Their day-to-day operations, from the stores they build, to the resources they purchase, all exemplify how committed MEC is to ensuring a green planet. Essay! MEC has been building greener and essay help group more environmentally sufficient stores for over a decade. Both their Ottawa and Winnipeg stores were the first in Canada to theory of human development, comply with Canada’s C2000 Green Building Standard – a Natural Resources Canada program that acknowledges buildings that achieve a 50% reduction in energy consumption over conventional structures.
By applying the story same strategic building designs in China, one might assume it would gain positive publicity from both government intuitions and from the general public, making it a leader in theory essay building greener establishments. He Is Critical! China’s population is over 1.3 billion, the largest of development, any country in the world. It does have a relatively small youth division which is partially a result of the one-child policy. This in dumb my resume turn has produced a generation of “little emperors and theory of human development empresses” who are treated as such by their parents and grandparents. This in turn creates an opportunity for business to market to this demographic knowing they have the means to buy their preferred merchandise. Since it is MEC’s policy to provide quality merchandise at reasonable prices, it is believed a franchise such as theirs would be successful in essay writing story China. Many of their products are sources from China, further strengthening their brand and image in the eyes of their consumer. By offering, “a Canadian” line of outdoor clothes and accessories, many Chinese consumers will be interested based on the reputation they perceive it has. Another macro-environmental force to be considered is the cultural environment of China itself. Traditionally outdoor sports and adventuring has not always been popular and for many Chinese people, running marathons or biking across extremely difficult terrain has been recreational sports only foreigners took part in. Of Human! Today more and more Chinese are competing in such adventure sporting events and the number of participants has been growing rapidly in recent years.
This can be attributed to the leisure-loving middle class as it continues to expand. Already many companies are trying to gain a larger share of he is critical, this market while others see this new trend as a way to promote their products. In the city of Guangzhou, Columbia Sportswear Company runs infomercials on theory of human essay, small LCD screens in the back of taxi cabs promoting outdoor activities in their apparel such as hiking. Trek Bicycle Corp, is another American company focusing on China’s growing number of essay self help group, participants who are taking interest in biking. Overall, this cultural change in China is providing an opportune time for of human development companies such as Mountain Equipment Co-op to expand it’s retail and website stores in this part of the market. The value proposition that best fits Mountain Equipment Co-op would have to be “More for More”. Now you can ask yourself, What is a reasonable price? This is the ultimate question every person should ask themselves before they go ahead and make a purchase. Conducting this evaluation is essay spm continuous story really the difference between selecting product A or B assuming all else is equal (in the theory development eyes and mind of the essay story consumer). In MEC’s mission statement you can find the of human development following quote “at the lowest reasonable price”, the he is critical question is what do most people value? MEC offers an array of products that are wisely marketed to target a specific niche that enjoys hiking and mountaineering for example.
These quality products are provided to of human, these niche markets in a informative and respectful manner. Due to he is critical, the fact that the majority of the sports and apparel MEC caters to are indeed “unique” this allows them to charge a pretty penny for their merchandise. Another reason why MEC is. believed to development, portray the “More for More” value proposition is by the five dollar lifetime membership fee. In general the items for sale whether it be (sleeping bags, sunglasses, shoes etc…) can all be found in your local department store. However, all of the spm continuous writing items available are so specific to it’s target market that people need to go to places like Mountain Equipment Co-op to theory development, find exactly what it is they need for the unique sport. This is what ultimately allows MEC to get away with the five dollar membership fee, that market is willing to pay this minor fee in order to acquire that special or higher quality product they desire. This is what has made MEC so popular, it’s ability to cater to that growing demographic that enjoys wilderness-oriented recreation. He Is Critical! Another supporting argument would be MEC’s awareness and understanding of environmental initiatives.
Considering the environment first and foremost with how you run your business is obviously very costly. Theory Essay! MEC prides themselves on he is critical, being so environmentally friendly that it plays a huge roll in of human development their ability to charge a higher price for products. MEC donates 1% of it’s gross revenue each year to environmental causes, back in dissertation 2007 that equated to “an estimated $2 million”. That is theory of human essay absolutely astonishing that MEC has that ability to donate that sum of money yearly! This is good thesis about roles obviously something MEC’s customers highly value which keeps customers coming back which in-turn continues to allow MEC to essay, price their merchandise accordingly. Is this the perfect essay for you? Save time and writing order Mountain Equipment Co-Op. essay editing for only $13.9 per page. Top grades and quality guaranteed! Relevant essay suggestions for Mountain Equipment Co-Op. 1. Development! Industry “The beer industry in the United States generates $75 Billion in cross-culture annual sales.” (Abelli, 4) Light beer sales have increased at a compound annual rate of 4% over…
Case 3-5 Digital Equipment Corporation. Digital Semiconductor was a business unit of Digital Equipment Corporation. John Gavin, the DS group controller, wanted the finance department to find ways to add value and better support the… Green Mountain Coffee Roasters. Green Mountain Coffee Roasters, Inc. Green Mountain Coffee Roasters currently has a revenue growth rate of 35.5% over the last 5 years. This company is growing right along side the… Mountain Dew Advertisement Controversy – Findings and Recommendations. Upon PepsiCo’s recent release of its new Mountain Dew advertising campaign in March 2013, the company and brand alike are facing significant backlash. The advertisements feature African-American rapper, Tyler the… Rocky Mountain Advanced Genome.
Rocky Mountain Advanced Genome (RMAG) is headquartered in theory development Colorado Springs, Colorado and has recently been founded by on modernization seven research scientists who have taken a leave of absence from major universities… Buck’s Hunting Equipment Inc. Buck’s Hunting Equipment Inc. (“Buck”) is a retailer of hunting equipment, hunting apparel, and outdoor accessories. Buck’s operations are based in Pittsburgh, PA, with retail stores located in the nearby…
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Essay/Term paper: Plant and animal cells. Free essays available online are good but they will not follow the development essay guidelines of your particular writing assignment. If you need a custom term paper on Science: Plant And Animal Cells , you can hire a professional writer here to write you a high quality authentic essay. While free essays can be traced by Turnitin (plagiarism detection program), our custom written essays will pass any plagiarism test. Our writing service will save you time and grade. cells. Cells are the basic units of life.
There are three main. features of a cell. First, all organisms consist of one or more. cells. Second, cells are the smallest units of life and third, cells arise only from preexisting cells. These three facts are. referred to as the cell theory. All cells can be categorized into two basic cell types. They are prokaryotic and essay on modernization in india eukaryotic.
To distinguish where cells. are placed in the two categories, what is inside the essay cell must. first be looked at. Every cell, either prokaryotic or eukaryotic. all contain basic cell parts. They are: a plasma membrane, cytoplasm, DNA (the genetic material), and ribosomes. Prokaryotic cells have a simple structure and they are usually. smaller than eukaryotic cells. Also, most prokaryotic cells. He Is Critical. contain a cell wall. In addition to having the basic cell parts, eukaryotic cells also contain a membrane-bounded nucleus and cell. organelles. The membrane surrounding the theory development essay nucleus in eukaryotic. cells, separate the dumb my resume nucleus from the cytoplasm.
Most of the cells we used in the experiments held, were. multicellular or consisting of more than one cell. A variety of. cells were used in completing the experiments. We used union. cells, cheek cells, potato cells, and Elodeo cells. We also used. Planaria which is a unicellular organism. Many stains and dyes. Theory Development Essay. were used in the experiments. They were water, methylene blue, salts, and iodine. In our studies of cells, we conducted three experiments to. test the different features of essay self help, cells.
The first two experiments. were on how membranes were selectively permeable, diffusion, and. osmosis. To test this, we set up two experiments. The first. experiment we set up had three cups. In each cup a potato slice. and a different liquid was put in. Theory Of Human Development. In the first cup was filled. with distilled water. The second cup was filled with salt water. and the third was left empty. We left these cups sit for on modernization, twenty- four hours and then we observed them. The second experiment we set up involved dialysis tubing. which was acting like a membrane.
In the dialysis tubing we put. a liquid that was made of starches and sugars. We then put the. dialysis tubing into a beaker of water which had a few drops of. Of Human Development. iodine. We left this over time and observed it. Our third experiment dealt with the different parts of a. cell. To complete this we had to make wet-mount slides and. observe them under a light microscope. To prepare a wet-mount. slide you must first obtain your specimen you are going to look. at. You then put the specimen on a clean glass slide in the. middle. Next, you take a medicine dropper and place one drop of. water on the specimen. After that, you hold a clean coverslip.
and place the bottom edge of the coverslip in the drop of water. Next, slowly lower the rest of the dumb down coverslip so that there are no. air bubbles, onto the remaining part of the specimen. By putting. specimens into wet-mount slides it saves a lot of time and development energy. Dumb Down. instead of putting them into set slides. Also, a wet-mount slide. Development. can be cleaned and re-used. We put onion cells, cheek cells, and Elodeo cells into cross-culture wet- mount slides.
After we made slides for each one we observe them. under the microscope. For some of the cells, we had to apply a. dye to have make the cell more visible under the microscope. Methylene blue was applied to the cheek cells and iodine to the. onion cells. To see the cheek cells, we had to reduce the theory of human development essay amount. of light coming into the microscope. We had to story do this because. Of Human Essay. when we reduced the amount of light, we could see the cells more. clear. Elodeo cells were observed as a wet-mount slide and also. with salt water. To apply a die to a previously made wet-mount. slide, an edge of the coverslip must be lifted just enough to get. the dropper under the apply the dye. At first, some of the. epidermal cells of the onion were folded.
This indicates that. the help cells were thick and there was more than one layer of cells. slices, we observed the different amounts of turgor pressure. In. the cup with the distilled water, the turgor pressure increased. Turgor pressure is the internal pressure that results from of human essay, being. filled with water. The potato slice in cross-culture, the first cup was very. rigid from of human essay, having water move into the potato cells from the. concentration gradient. The water moved into help the cells by the. process of diffusion. In the second cup, with the salt water, the turgor pressure decreased.
The salt water environment was. hypotonic and sucked up the water from the potato cells. This. made the slice very bendable and squishy. In the third cup, with. the potato slice only in air, the turgor pressure stayed the. same. The potato did loose some water due to evaporation though. Sitting out in the air made the potato slice start to rot and it. was turning brown. In the second experiment involving the dialysis tubing, we. observed the cell membrane and diffusion. Before even starting. the experiment, we had to run a two diagnostic tests. The first, dealt with how to detect if starch was in a solution. To do. this, we poured some of our liquid containing starch and sugar, into a test tube. After doing this, we added iodine.
When the. iodine was poured into the test tube, the theory of human essay liquid turned blue. because the iodine reacted with the starch. From this, we. concluded that if starch was in a liquid and iodine was poured. into it, the liquid would turn blue. Essay Self Group. In the second test, we used tes-tape to detect if any. glucose was in the liquid. Like the first test, we poured some. of the of human liquid into a test tube and put a piece of tes-tape into. the liquid. Dissertation. As we pulled the development tes-tape out of the liquid, it was. colored green, indicating that there was glucose in the liquid. We concluded that if the tes-tape turned out to be green, then. there must be glucose in the liquid. After completing the diagnostic tests, we observed the. dialysis bag after it had been sitting in the water for essay in india, seven. hours. When observing it, we noticed that the of human development dialysis bag had. filled up more.
We massed the bag and found that it's mass was. Essay On Modernization In India. 17.6 grams. It's original mass was 13 grams. We made a. Theory Development. hypothesis that water was diffusing into the dialysis bag by. osmosis. To detect if glucose or starch had diffused out of good thesis about, the. dialysis bag we added a few drops of iodine and put in theory development, the tes- tape to the liquid in dumb down, the beaker. We found out that the iodine. diffused into of human the dialysis bag and turned blue and the tes-tape. turned green in the beaker.
We concluded that the he is critical glucose and. water had reached equilibrium and theory of human development the starch and iodine didn't. In the last experiment, after we made wet-mount slides for. Dumb Down My Resume. each specimen, we observed them under the theory development light microscope. In. the onion and essay spm continuous Elodeo cells, we observed that there was a nucleus. and chloroplast that were in constant motion and towards the. outer part of the cell. They were moving around the central. vacuole in the cell that pushes everything towards the outside. part of the cell.
In the Elodeo cells that were in salt water, we observed that the cells were a slight bit smaller than the. Of Human. Elodeo cells just in water. This occurred because the salt water. He Is Critical. was a hypotonic solution and sucked up some of the water in the. When we observed the cheek cells we found they were very. Theory Of Human Development Essay. different from the plant cells. The nucleus was in the middle of. the cheek cells and there were a few cell organelles. The. Planaria cell was all red and essay on modernization had lines running down it. In this. cell though, the nucleus was not present. The plant cells and animal cells were very different.
In. the plant cells there was motion of of human essay, cell parts but in the animal. cells there was no motion. Also, the nucleus and chloroplast of. the plant cell were towards the outside of the cell because the. chloroplast can receive sunlight better on the outside of the. cell than on on modernization in india the inside. Essay. In the animal cells though, the nucleus. and cell organelles, were towards the middle of the cell. cells. Cells are the basic units to life. Cross-culture. Without cells life. cannot exist. In our experiments we went to look how cells. function and what are their features.
In finding this. information, I know have a better understanding of how cells.
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late policy homework How Does Your School Handle the Homework Dilemma? How do your teachers handle homework? Do you have a school-wide policy? Do students earn a homework grade?
What about late homework? Or the theory effects of homework zeros on student grades? Included: Education World's Principal Files team shares their thoughts on those questions and others. Does your school have a homework policy? How much homework is the right amount for each grade level? Do you have systems in place to help students and parents keep track of homework assignments? Is homework graded? What about homework that is submitted late? And how about cross-culture dissertation, zeroes?
Zeroes on homework can quickly affect a students' grade. Education World wanted to learn more about essay, how schools and school districts handle the homework dilemma, so we posed those questions to our Principal Files team. Their responses might offer some guidance to others who are grappling with defining and policing homework. WHAT IS HOMEWORK? For many schools and school districts, defining homework and its purpose is a first step in cross-culture dissertation creating a homework policy. Is homework a dilemma for teachers, students, and theory of human development essay parents at dissertation your school? Are you frustrated because you get more excuses than completed assignments? Education World has published many articles and resources about the development issue of homework. My Resume? Be sure to scroll through our Homework Archive for theory development these articles and more Homework Club Memberships Grow Homework Study Hall: Mandatory Make Up for my resume Missed Work Put an End to Homework Horror! Classroom Rewards Reap Dividends for Teachers and Students And don't miss our newest series of homework tips -- 30 volumes of teacher-tested ideas -- Help for Homework Hassles.
In Arlington, Virginia, district policy defines the purpose of homework as preparing for, building on, or reinforcing classroom learning. The policy goes on to add that homework encourages responsibility and accountability and strengthens home-school communication about development essay, student learning, said Lolli Haws, principal at Arlington's Oakridge Elementary School. According to the policy, homework must also acknowledge students' individual differences through differentiation, added Haws. It must be designed to be achievable by all students independent of school staff, access to technology, or materials only available at school; in dumb other words, a child must be able to theory of human essay, complete homework using resources available in good about roles the home. The policy also emphasizes that homework is primarily a teacher-student interaction, added Haws. That means that. parents shouldn't have to theory development, spend a lot of their time on homework with their child, and teachers should provide timely, consistent, and understandable feedback to students about their homework.
Just like it is in Arlington, homework is student -- not parent -- responsibility at essay on modernization in india St. Martin's Episcopal School in Atlanta. Of Human Development Essay? Homework is an important part of our school's developmental study-skills curriculum, said principal Sue Astley. Parents should consider homework as a contract between the dumb my resume school and the student. It is the student's responsibility to complete homework. Parents can best assist the process of learning by providing a consistent time and theory development a quiet place for thesis about roles students to complete their homework and by development, showing a positive interest in he is critical it. At the Edenrose Public School in of human development essay Mississauga, Ontario (Canada), representatives of each grade, and the school's ESL and he is critical special education staffs, drafted a school-wide policy that was shared with all staff and the school council. The policy was recently reviewed and minor revisions were made, said principal Deepi Kang-Weisz. Each year, the theory of human development policy is sent home to spm continuous story, all families in our back-to-school information package. In addition, each teacher reviews the policy with students.
The policy defines what homework is and provides examples of what homework might look like at each grade level. At Doctors Inlet Elementary School in theory of human development essay Middleburg, Florida, homework is self help defined as assignments that support specific concepts taught during the school day, said principal Larry Davis. Incomplete class work that must be completed at home is not considered homework; rather it is considered a continuation of the theory development essay student's daily classroom responsibilities. HOW MUCH HOMEWORK? We were surprised to find quite a bit of he is critical consistency across schools and districts when it comes to answering the question How much homework should students have? The norm seems to be 10 to 15 minutes of homework per night by grade level. In other words, grade one students might have 10 minutes of theory of human essay homework each night; grade two students would have 20 minutes of homework; grade three students would have 30 minutes of he is critical homework, and so on. Other schools might spell out specific amounts of homework. Theory Of Human Essay? For example, at essay Transfiguration School in West Hazelton, Pennsylvania, principal Sherry Ambrose says the development essay following homework guidelines are in effect: Pre-K, Kindergarten -- as assigned Grade 1 -- 20 minutes Grade 2 -- 30 minutes Grade 3 -- 30-45 minutes Grade 4 -- 45 minutes to good thesis about roles, 1 hour Grades 5 to 8 -- 1 to of human development essay, 1-1/2 hours. At Doctors Inlet Elementary, homework should never exceed 60 minutes per night, said principal Larry Davis, adding, If homework is given, it must be graded for dumb completeness and accuracy.
Some schools spell out theory essay that homework time does not include time students are expected to spend each night reading to essay on modernization, an adult or on their own. Many schools specify that students spend 15-30 minutes reading each day, more on days when they have no other assigned homework. KEEPING TRACK OF ASSIGNMENTS. Among the theory of human development essay often-stated purposes of essay spm continuous writing story homework is that it helps students develop study skills, time management skills, and responsibility. In an effort to help students develop those skills, many schools support student learning by using homework assignment books, sometimes called agendas, and by providing resources that help students when they slip up by not carefully recording their assignments.
A school-wide policy at St. Vincent DePaul Academy recognizes homework as an integral part of its effort to develop student responsibility. According to principal Heather Hamtil, the school's AAA card offers positive recognition to theory essay, students who make consistent efforts in three areas: A cademics, A ttendance, and A ttitude. Each week, students are awarded an AAA card if they have not missed an assignment in the 5-day period (Academics); been present at least 4 days out of the 5 (Attendance); and not had any marks against behavior or uniform (Attitude). At the end of each quarter, students may trade their collected cards for writing special rewards. Our students must use the school-designed homework notebook in which teachers initial each assignment given (as a means of checking that students have properly recorded the theory of human assignment) and that parents initial to indicate that they have looked at spm continuous writing story the completed assignments, said principal Heather Hamtil of St. Vincent DePaul Academy in Kansas City, Missouri. Of Human Essay? For each assignment, the my resume date given and the date due are recorded.
Doing that helps students get organized, but it also aids teachers; they can see if students are getting 'loaded up with homework.' If parents complain about development essay, that, a teacher can often explain that some assignments were given several days before and good gender roles that part of the education of the theory of human development student is learning to prioritize assignments based on spm continuous story, his or her evening activities and availability. We even have a section of the notebook where we can help students prioritize those longer-term assignments. The homework notebook is a tool that aids us in regular, usually daily, communication with parents, noted Hamtil. Students must write their assignments in ink, she added. That prevents them from theory changing an assignment before going home. At Oakridge Elementary, agenda planners are used by students in grades 3 to 5. Parents sign the agendas each night to verify completion of homework assignments. To cover students who might not get their assignments written down correctly, most teachers in grades 2-up have ongoing email communication with parents who wish to receive daily homework updates.
Homework is assigned in weekly chunks at Transfiguration School. Homework for the upcoming week is posted on our school Web site each Sunday night, said Sherry Ambrose. For those who do not have Internet access at spm continuous home, hard copies of theory of human weekly homework assignments are available in classrooms, or students can print them out in the computer lab. In addition, all students have homework assignment tablets, added Ambrose. Homework tablets are signed by teachers and essay self help group parents of students up to grade 3. DOES HOMEWORK GET GRADED? Should homework be graded? If so, how much should it count? Ah, those are the questions that often plague school staffs as they debate the theory of human homework issue.
Most schools have determined the cross-culture grading of homework to be a teacher-level decision while some districts or principals offer guidelines. In Edenrose, Ontario (Canada), for example, we have a school-wide homework policy that was developed following the school board's policy and guidelines, said Deepi Kang-Weisz. Homework completion is considered an essential learning skill and is included on school report cards. Set criteria are used to determine whether a child's homework-completion skills/responsibilities will earn a grade of needs improvement, satisfactory, good, or excellent. Among the theory of human essay criteria used to determine the grade are. Does the student complete homework on time and with care? Does the student put forth consistent effort? Does the student follow directions and complete all homework tasks? Does the essay on modernization in india student show attention to development, detail?
Does the student demonstrate interest and enthusiasm in homework assignments? At Gonic Elementary School in Rochester, New Hampshire, principal Martha Wingate offers helpful guidelines to teachers as they wrestle the homework beast. Some of her guidelines are ones she used when she was in the classroom. Those guidelines include a check system and several other rubrics. The check-system rubric is pretty straight forward, said Wingate. Students earn a. if work is dumb my resume complete, neatly done, and directions are followed; + if work includes any amount of development extra credit; ++ if work includes above-and-beyond extra credit; - if work is incomplete, messy, or directions are not followed; or 0 if work is not passed in.
It is important that the about check-system rubric is carefully explained to students and essay that what qualifies as extra-credit work is explained in advance, Wingate explained. I include an extra-credit assignment almost every night. For example, in math, extra credit might require doing four more problems than assigned, or, in spelling, it might require sentences that are 10 words or longer. In addition, all homework is checked first thing in the morning as students work on essay in india, independent or bell-ringer activities. At that point, I am not checking for correctness; I am only of human checking for completed work, said Wingate. Another grade might be given later for accuracy of the work. When I used this system I included a reward component too.
Students who averaged a grade of group or higher for the week earned a 'No Homework Pass' that they could use on theory of human, the last day of story each month. Theory Development Essay? Students might earn up to essay on modernization in india, three passes in any month and 'cash them in' working backward from the last day of the month. I adopted that system because it enabled me to plan the theory of human homework assignments that students might miss. I should add that I am pretty generous with the he is critical s. I want as many students as possible to feel success. The extra-credit assignments I offer make it easier for a student who might have slipped and earned a grade of - on theory, an assignment to good gender, still earn a for theory development the week. Wingate's check system is an easy one for teachers to cross-culture dissertation, adapt.
The system can work to improve students' homework skills and theory of human development attention because. the teacher gives each student daily attention about their homework; students see how important homework is to he is critical, the teacher; students can see the opportunities to make up for work they didn't complete; and the teacher has the data required to give a pure homework grade for homework completion. Wingate also offers her staff other rubrics for homework grading. (See the sidebar for theory essay sample homework rubrics.) One of the biggest dilemmas surrounding homework is how to handle the student who earns a zero for assignments not turned in. Zeros can ruin a child's grade, said principal Lolli Haws, adding, This is an self, issue our staff is debating right now in our Teacher Advisory Council. Teachers have varied feelings about this. Students who don't turn in theory of human development essay homework typically stay in dumb from recess to complete it, but that does not seem to be effective in bringing about a change in of human essay behavior, so we're looking for dumb down my resume other approaches. WHAT ABOUT LATE WORK?
ABSENCES? ZEROES? Most teachers accept late homework, though many deduct a grade for it. For example, a teacher's policy might deduct 10 percent for each day an assignment is late or it might state that the highest grade a late assignment can earn is a 70. And when it comes to of human essay, absences, many schools set a policy about thesis, making up work; for example, students might be given three calendar days to make up missed work. But what about zeros?
That question comes up often in teachers' rooms and theory staff meetings. If a student doesn't do the down my resume assignment, he earns a zero. He gets what he deserves, right? But what about the of human essay student who passes all tests but earns a zero for homework? A teacher who averages a zero homework grade into self, a C-student's final grade, might end up failing that student. But does that grade really reflect what the of human students knows? (Shouldn't a grade reflect what a student knows?) More and more schools are revisiting those questions. Essay Spm Continuous Writing Story? Many principals have taken the view that educators fail students by failing students. A few homework zeros are bound to development, frustrate a student, even to good thesis roles, the point of forcing him to give up. To prevent that from development essay happening, some schools have set a grading scale of 50 to 100 percent. Missing assignments are given a grade of 50.
In that way, it is still possible for a student who misses homework but passes all tests to earn a passing grade. In the case of help quizzes and tests, many schools' policies require re-teaching and re-testing until a student earns a passing grade. In that way, teachers are certain that students have learned the important concepts that are documented in their state's standards and that students have the building blocks necessary, especially in the maths, to move on to the next skill. Alas, the grading debate is a sticky and complex one -- especially when it comes to the effects of zeros on development essay, students' grades. The important thing is to have a policy, principal Sue Astley told Education World. I encourage each of my school's grade-level teams to establish a written policy. That policy might include a statement of whose responsibility it is to handle missed homework; for essay spm continuous writing story young students, parents might request missed assignments, but older students might handle that responsibility on their own. Theory Of Human Essay? Also, the policy might include a statement of how much advance notice is required for teachers to gather homework for a student who will be out of school for a period of time. That way, parents can't notify us the night before about a student who will be gone and expect us to have work ready that day.
Does your school have a homework policy? Is that policy in cross-culture dissertation writing? If not, it might be time to make the commitment to review the homework issue, to of human, come to a consensus about essay self, it and then commit your staff's agreement or consensus to theory, writing. Education World's Great Meetings series offers some tools for coming to consensus. You might take a look at essay some of those tools in the practical Great Meetings entries listed here. Having a homework policy in writing can help teachers avoid having to deal with complaints from parents, added Astley. Principal Deepi Kang-Weisz agreed. Our policy is often referred to when responding to parents' concerns or questions.
Having a written policy can be a big help throughout the school year. Education World has published many articles and resources about the issue of theory development homework. Be sure to scroll through our Homework Archive for a wide range of articles. Principal Contributors to This Article. The following members of Education World's Principal Files Team contributed to dissertation, this article.
Click here to view an archive of practical Principal Files articles from recent months. Sherry Ambrose, principal, Transfiguration School, West Hazleton, Pennsylvania Sue W. Astley, assistant headmaster and elementary principal, St. Martin's Episcopal School, Atlanta, Georgia Larry Davis, principal, Doctors Inlet Elementary School, Middleburg, Florida Heather Nicole Hamtil, assistant principal, St. Vincent de Paul Academy, Kansas City, Missouri Dr. Lolli Haws, principal, Oakridge Elementary School, Arlington Virginia Deepi Kang-Weisz, principal, Edenrose Public School, Mississauga, Ontario, Canada Martha Wingate, principal, Gonic Elementary School, Rochester, New Hampshire.
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