Platinum Fitness is a health service company that provides wellness programs to businesses in Shillong, India to improve employee productivity and lower healthcare costs. It was founded by Lahunmiki Myria and will initially focus on small to medium businesses in Shillong. The company aims to create relationships with 20 companies in its first year and expand across India within two years. Platinum Fitness will offer personalized health and fitness programs and work with companies to develop wellness strategies tailored to their needs.
Warid Telecom is founded by Abu-Dhabi group and provides equal employment opportunities and a safe workplace. Its key HRM policies include planning and recruiting employees internally or through advertisements, selecting employees based on qualifications and tests, providing training programs locally or abroad, designing jobs, establishing salary structures and compensation packages, enforcing employee conduct policies and ethics guidelines, and outlining resignation and exit procedures. The document provides details on each of these HRM areas and practices at Warid Telecom.
Compensation Management Practices and Policies Assignment / ReportFakrul Hassan
The document is an assignment report submitted to Dr. Farahana Ferdousi on the compensation management practices and policies of Mutual Trust Bank. It begins with an introduction providing background and objectives of the study. It then discusses the methodology used to collect both primary and secondary data. The report provides an overview of Mutual Trust Bank, including its history, mission, vision and organizational hierarchy. It examines the bank's compensation practices in detail, such as salary, bonuses, provident fund, annual increments and other benefits. Finally, it outlines Mutual Trust Bank's compensation management policies, including death benefits, employee loans and welfare funds.
Indirect pay or compensation refers to non-monetary benefits provided to employees such as paid time off, health insurance, and retirement plans. While indirect compensation aims to attract and retain talent, issues can arise when the benefits do not satisfy employees' needs. This can increase turnover as dissatisfied employees seek other job opportunities. Employers must carefully design competitive indirect compensation packages that meet the needs of a diverse workforce to minimize turnover. Strategies like increased benefit options, flexible work schedules, and ensuring fair treatment among employees can help address issues with indirect compensation.
welfare activity at mahindra and mahindra ltd, nashikSaket Rathi
The document discusses employee welfare activities at Mahindra and Mahindra Ltd. in Nashik, India. It outlines the objectives of studying welfare activities to understand satisfaction levels and additional requirements. It then describes the various vehicles manufactured at the Nashik plant, including the Mahindra Thar, Xylo, Quanto, Bolero, and Scorpio.
Compensation Management and Employee Satisfactionakashcreation
The document is an internship report submitted by Akash Datta to their lecturer, Kaniz Morshed. The report analyzes the compensation management and employee satisfaction of Premier Group of Company Ltd, where Akash completed their internship. The report includes chapters on the company overview, compensation management practices, findings from surveys of employees, a SWOT analysis, and recommendations. The objective is to evaluate how effective the company's compensation system is and how it can be improved.
Change & Evolve Private Limited is a Karachi-based employee wellness training startup that aims to improve the health and well-being of corporate employees. It offers a range of wellness programs and services, including fitness programs, healthy eating counseling, education on stress management and mental health, vaccinations, smoking cessation programs, and weight loss counseling. The startup sees opportunities to grow its business by increasing employer awareness of the benefits of employee wellness programs and expanding into new markets. However, it may face threats from competitors offering similar services and economic downturns reducing company spending on wellness initiatives.
Mr. Omar conducted an analysis of HR activities and policies at PTCL's EVP Contact Centre in Lahore. He found issues like low salaries, lack of motivation, and high turnover. To address this, he amended HR policies to encourage employee performance and motivation through incentives. He introduced an incentive plan that rewarded top performers based on quantitative and qualitative KPIs. This was aimed to improve employee satisfaction and the company's image for customers.
This document contains a resume for Be Thi Thu Hien. She has over 15 years of experience in corporate social responsibility and sustainability management, currently working as the CSR Manager for Freetrend Industrial (VN) Co., Ltd. Her responsibilities include ensuring compliance with customers' standards and local laws, developing CSR strategies and policies, managing training programs, conducting audits of suppliers, and overseeing a team of 14 people. She holds a BA degree in French and has received training in areas such as leadership, communication skills, auditing, and computer programs.
Warid Telecom is founded by Abu-Dhabi group and provides equal employment opportunities and a safe workplace. Its key HRM policies include planning and recruiting employees internally or through advertisements, selecting employees based on qualifications and tests, providing training programs locally or abroad, designing jobs, establishing salary structures and compensation packages, enforcing employee conduct policies and ethics guidelines, and outlining resignation and exit procedures. The document provides details on each of these HRM areas and practices at Warid Telecom.
Compensation Management Practices and Policies Assignment / ReportFakrul Hassan
The document is an assignment report submitted to Dr. Farahana Ferdousi on the compensation management practices and policies of Mutual Trust Bank. It begins with an introduction providing background and objectives of the study. It then discusses the methodology used to collect both primary and secondary data. The report provides an overview of Mutual Trust Bank, including its history, mission, vision and organizational hierarchy. It examines the bank's compensation practices in detail, such as salary, bonuses, provident fund, annual increments and other benefits. Finally, it outlines Mutual Trust Bank's compensation management policies, including death benefits, employee loans and welfare funds.
Indirect pay or compensation refers to non-monetary benefits provided to employees such as paid time off, health insurance, and retirement plans. While indirect compensation aims to attract and retain talent, issues can arise when the benefits do not satisfy employees' needs. This can increase turnover as dissatisfied employees seek other job opportunities. Employers must carefully design competitive indirect compensation packages that meet the needs of a diverse workforce to minimize turnover. Strategies like increased benefit options, flexible work schedules, and ensuring fair treatment among employees can help address issues with indirect compensation.
welfare activity at mahindra and mahindra ltd, nashikSaket Rathi
The document discusses employee welfare activities at Mahindra and Mahindra Ltd. in Nashik, India. It outlines the objectives of studying welfare activities to understand satisfaction levels and additional requirements. It then describes the various vehicles manufactured at the Nashik plant, including the Mahindra Thar, Xylo, Quanto, Bolero, and Scorpio.
Compensation Management and Employee Satisfactionakashcreation
The document is an internship report submitted by Akash Datta to their lecturer, Kaniz Morshed. The report analyzes the compensation management and employee satisfaction of Premier Group of Company Ltd, where Akash completed their internship. The report includes chapters on the company overview, compensation management practices, findings from surveys of employees, a SWOT analysis, and recommendations. The objective is to evaluate how effective the company's compensation system is and how it can be improved.
Change & Evolve Private Limited is a Karachi-based employee wellness training startup that aims to improve the health and well-being of corporate employees. It offers a range of wellness programs and services, including fitness programs, healthy eating counseling, education on stress management and mental health, vaccinations, smoking cessation programs, and weight loss counseling. The startup sees opportunities to grow its business by increasing employer awareness of the benefits of employee wellness programs and expanding into new markets. However, it may face threats from competitors offering similar services and economic downturns reducing company spending on wellness initiatives.
Mr. Omar conducted an analysis of HR activities and policies at PTCL's EVP Contact Centre in Lahore. He found issues like low salaries, lack of motivation, and high turnover. To address this, he amended HR policies to encourage employee performance and motivation through incentives. He introduced an incentive plan that rewarded top performers based on quantitative and qualitative KPIs. This was aimed to improve employee satisfaction and the company's image for customers.
This document contains a resume for Be Thi Thu Hien. She has over 15 years of experience in corporate social responsibility and sustainability management, currently working as the CSR Manager for Freetrend Industrial (VN) Co., Ltd. Her responsibilities include ensuring compliance with customers' standards and local laws, developing CSR strategies and policies, managing training programs, conducting audits of suppliers, and overseeing a team of 14 people. She holds a BA degree in French and has received training in areas such as leadership, communication skills, auditing, and computer programs.
Renata Limited is a leading pharmaceutical company in Bangladesh that manufactures medicines and exports products to multiple countries. It has over 3,485 employees. The document summarizes Renata's HR practices, including its recruitment and selection processes, training programs, and compensation package. Renata aims to attract and retain talented employees through competitive compensation and opportunities for career growth. While Renata has strong HR practices, the document notes that the company could improve by developing an internal training institute and enhancing its selection process with additional screening steps.
SWOT Analysis Review on Bajaj Finance Limited (BAJFINANCE)CompanyProfile123
Companyprofilesandconferences.com glad to promote a new report on "Bajaj Finance Limited (BAJFINANCE) - Financial and Strategic SWOT Analysis Review". It is a Non Banking Finance Company (NBFC) based in India. It operates as a subsidiary of Bajaj Finserv Limited. The company serves as a Non Banking Finance Company (NBFC) according to the guideline given by the Reserve Bank of India (RBI).
The document discusses retention strategies for employees in the ITES-BPO industry. It notes the high average attrition rate of 35-40% in the sector. Common reasons for employees leaving include lack of growth opportunities, higher salaries elsewhere, work-life balance issues, and relationship problems with managers. The document then outlines many standard benefits provided by BPO companies, such as health insurance, transportation subsidies, meals, accommodation assistance, and performance-based incentives. It stresses the importance of communication, clear expectations, and proper rewarding to improve employee retention. Some key retention strategies proposed are regular updates on company performance, setting measurable goals and consequences, and building recognition into rewards.
The document provides an overview of a research report on the frequent employee turnover in the sales department of Union Assurance PLC, an insurance company in Sri Lanka. The objectives of the research are to identify the causes and effects of turnover and provide solutions to minimize it within a year. The report begins with background on Sri Lanka's insurance industry and the history and operations of Union Assurance. It then discusses reasons for turnover, its effects, and tips to reduce it based on interviews with former employees, current staff, and management. Theoretical frameworks on employee motivation and value are also presented to analyze the problem of turnover within Union Assurance's sales department.
This Project has been prepared as a part of the Pune University course curriculum. I found very interesting and educative. I gained knowledge about some of the Manufacturing aspects and also Retail Operations. A practical exposure of working in an organization; although for a brief period will however benefit me in the long run. This experience will be treasured by me always.
This document outlines the HR policies of Cybage Software Pvt. Ltd., including policies related to employee work hours, leaves, holidays, performance reviews, and more. It details the company's open door policy for employees to provide suggestions to senior management or the HR department. The document also covers bonus structures for the employee referral scheme and performance appraisals that follow a 360 degree review process.
This document provides a case study of Airtel Telecom Bangladesh Ltd's total compensation strategy. It discusses the company's compensation objectives of efficiency, fairness, and compliance. It describes the company's hierarchy, HR policies around recruitment, training, job design, evaluation, and performance management. The company aims to motivate employees through competitive compensation and benefits packages. It uses various techniques like job enlargement and enrichment. Performance is linked to bonuses and salary increases. The study concludes the company's strategies are effective but could further focus on contractual employees and career development programs.
An IT company in the UAE should adopt a strategic total rewards management system to motivate its employees and increase market share in the blooming UAE IT market. Strategic total rewards considers an employee's total compensation and benefits to increase performance. The document discusses different compensation strategies from the perspective of employees and employers. It also provides examples of analyzing jobs as a lecturer, doctor, or IT technician in the UAE and factors to consider like required qualifications, prestige, duties and average salaries.
The document discusses several key aspects of human resource management (HRM) at Aotearoa Institute of Technology (AIT), including training and development, compensation, performance appraisal, industrial relations policies, and health and safety programs. It also identifies some areas for improvement at AIT, such as increasing interaction between employees and management, empowering women, and recognizing employee achievements. Recommendations are provided, such as holding social events to encourage understanding between diverse cultures and ensuring disciplinary policies are applied fairly and without bias.
The Influence of Incentive and Motivation on Employee Productivity in Koperas...ijtsrd
In carrying out activities in the company the employee will provide good performance when the employee gets incentives as additional income and encouragement from the leadership of the company. A company leader must be able to direct his employees to work together and try to always provide guidance to employees to improve performance through motivation given by the leadership to employees. Performance is the total of all activities carried out by all available resources in the company that work together so as to create a good work system in the company. In this study a total of 44 respondents were all employees in the Koperasi Gotong Royong Mandiri and were used as a sample. The results of the study explained that giving incentives had an effect on performance by 23.60 and motivation had an effect on performance by 5.44 and together the incentives and motivation had an effect on performance by 36.61 . Edward Alezandro Lbn. Raja | Togu Harlen Lbn. Raja | John G. Lbn. Raja "The Influence of Incentive and Motivation on Employee Productivity in Koperasi Gotong Royong Mandiri" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-3 | Issue-5 , August 2019, URL: https://www.ijtsrd.com/papers/ijtsrd27938.pdfPaper URL: https://www.ijtsrd.com/management/randd-management/27938/the-influence-of-incentive-and-motivation-on-employee-productivity-in-koperasi-gotong-royong-mandiri/edward-alezandro-lbn-raja
This document provides an outline and overview of employee benefits and services. It begins with an early history of benefits in the United States dating back to 1794. It then defines what employee benefits and services are, including both mandated and non-mandated benefits. Mandated benefits discussed include unemployment insurance, social security, and workers' compensation. Non-mandated benefits include retirement plans, health care, paid time off, and other employee services. The purpose of offering benefits from both the employee and employer perspective is also summarized.
This document appears to be the introduction or first chapter of a thesis paper on evaluating the performance of private commercial banks in Bangladesh. It provides background information and outlines the objectives, scope, and methodology of the study. It also gives brief overviews of the functions of Bangladesh Bank and selected private commercial banks that will be analyzed in the study. The document includes tables of contents, lists of tables and figures, and defines acronyms that will be used. It appears the full thesis will evaluate bank performance using various financial ratios and metrics, and will also examine credit ratings of the selected banks from rating agencies.
Analysing the Effectiveness of a Local Authority against Standards of Good Pr...Carl Page
To complete this task I needed to write a reflective account of my work placement experience. I had made notes, observations and documentation from my work place (e.g. H & S guidance, job descriptions, shift work strategy, management systems, hierarchy of qualifications and required experience(s) etc.) which will provide the starting point for these reflections. The frameworks allowed me to reflect and include legal and statutory frameworks, resourcing, human relations, client experience and business models. The reflective account therefore brings together theory and practice in the work place and provides an opportunity to analyse the effectiveness of the work environment in which gained experience. The conclusions identified the key issues of employability (such as required skills and personal qualities) which were drawn from my work place experience.
Fringe benefits is also known as employee benefits which is provided by the employer to employee additional to the wages, it might in monetary or non monetary terms.
Renata Ltd is one of the top pharmaceutical companies in Bangladesh. To evaluate Renata's financial performance and condition from 2010-2014, various liquidity ratios were analyzed. The current ratio fluctuated over the years, decreasing in 2011 and 2013 but increasing in 2012 and 2014. The quick ratio followed a similar trend. The average collection period and days inventory outstanding generally increased over the years, indicating slower collection of receivables and higher inventory levels being held. The accounts receivable and inventory turnover ratios decreased in most years, suggesting slower turnover of these current assets.
Pharmaceutical is a booming sector in the country today. Foreign investments have flowed into the country over the past few years in huge amounts. Bangladesh, with a population base of 160m provides a very prospective environment for foreign Pharmaceutical to invest. Who are increasingly becoming more capable of purchasing consumer goods, and this class is growing says a study by World Bank.
The Company started its operations as Pfizer (Bangladesh) Limited in 1972. For the next two decades it continued as a highly successful subsidiary of Pfizer Corporation. However, by the late 1990s the focus of Pfizer had shifted from formulations to research. In accordance with this transformation, Pfizer divested its interests in many countries, including Bangladesh. Specifically, in 1993 Pfizer transferred the ownership of its Bangladesh operations to local shareholders, and the name of the company was changed to Renata Limited.
In this report, we have tried to find out how Renata Limited maintains its Financial Accounting policies and develops its businesses in this one of the most competitive Pharmaceutical markets in the world. ACI Ltd, Beximco Pharmaceuticals Ltd, Essential Drugs Company Ltd, Square Pharmaceuticals Ltd etc are competitors of Pharmaceutical markets. The objective of this assignment is to begin to integrate the many concepts we have studied and to give an opportunity to apply our financial accounting in a real-world setting. Renata Limited performs this hard job through applying our studied strategies. Renata Limited is earning Goodwill and Customer Satisfaction through providing quality services and maintaining up-to-date business strategies. And after analyzing the reports and studying the market it is quite clear that they are fairing quite well according to their company objectives.
This document provides an introduction and overview for the publication "HR Best Practices 2017". It was published in India by Dun & Bradstreet Information Services India Pvt Ltd. and Sodexo SVC India Pvt. Ltd. The publication features case studies on best practices in key HR areas from recruiting to rewarding employees. It aims to help organizations transform their approach to human resource management practices to improve employee engagement and business outcomes. Sharing successful HR strategies can help all companies learn from each other's experiences and better manage their workforces.
1. The report analyzes recruitment of front line sales employees at Future Generali Life Insurance. It found high attrition and challenges in acquiring new talent.
2. Direct competition mapping identified strengths and weaknesses of Future Generali compared to competitors. It found Future Generali provided fewer leads to employees and had longer turnaround times than peers.
3. Recommendations included outsourcing hiring, reducing turnaround time, providing more leads to employees, and lowering sales targets to improve recruitment and retention.
Corporate Fitness provides wellness programs and services to businesses to improve employee health and productivity. It believes prevention is more effective than reactive treatment. The company aims to serve Seattle businesses and expand to Portland. It will market to companies and individuals, recruit experienced managers, and lower costs through improved health. The founders have invested $200,000 and taken a $100,000 loan to fund start-up costs including equipment, rent, and improvements. Sales are forecast to grow from $539,075 in year 1 to $650,750 in year 2 and $825,600 in year 3 as the company expands its client base.
This document discusses the annual report of Talwalkars Better Value Fitness Limited. It highlights the company's rapid expansion from 63 health clubs last year to over 100 health clubs currently across 50 cities in India. The company aims to further its growth by introducing new business models and concepts like "HI FI" gyms to make quality fitness facilities accessible to the masses in smaller towns at lower prices. Favorable demographics, rigorous staff training, a hub-and-spoke operating model, and a pan-India presence are identified as key drivers of the company's performance.
Renata Limited is a leading pharmaceutical company in Bangladesh that manufactures medicines and exports products to multiple countries. It has over 3,485 employees. The document summarizes Renata's HR practices, including its recruitment and selection processes, training programs, and compensation package. Renata aims to attract and retain talented employees through competitive compensation and opportunities for career growth. While Renata has strong HR practices, the document notes that the company could improve by developing an internal training institute and enhancing its selection process with additional screening steps.
SWOT Analysis Review on Bajaj Finance Limited (BAJFINANCE)CompanyProfile123
Companyprofilesandconferences.com glad to promote a new report on "Bajaj Finance Limited (BAJFINANCE) - Financial and Strategic SWOT Analysis Review". It is a Non Banking Finance Company (NBFC) based in India. It operates as a subsidiary of Bajaj Finserv Limited. The company serves as a Non Banking Finance Company (NBFC) according to the guideline given by the Reserve Bank of India (RBI).
The document discusses retention strategies for employees in the ITES-BPO industry. It notes the high average attrition rate of 35-40% in the sector. Common reasons for employees leaving include lack of growth opportunities, higher salaries elsewhere, work-life balance issues, and relationship problems with managers. The document then outlines many standard benefits provided by BPO companies, such as health insurance, transportation subsidies, meals, accommodation assistance, and performance-based incentives. It stresses the importance of communication, clear expectations, and proper rewarding to improve employee retention. Some key retention strategies proposed are regular updates on company performance, setting measurable goals and consequences, and building recognition into rewards.
The document provides an overview of a research report on the frequent employee turnover in the sales department of Union Assurance PLC, an insurance company in Sri Lanka. The objectives of the research are to identify the causes and effects of turnover and provide solutions to minimize it within a year. The report begins with background on Sri Lanka's insurance industry and the history and operations of Union Assurance. It then discusses reasons for turnover, its effects, and tips to reduce it based on interviews with former employees, current staff, and management. Theoretical frameworks on employee motivation and value are also presented to analyze the problem of turnover within Union Assurance's sales department.
This Project has been prepared as a part of the Pune University course curriculum. I found very interesting and educative. I gained knowledge about some of the Manufacturing aspects and also Retail Operations. A practical exposure of working in an organization; although for a brief period will however benefit me in the long run. This experience will be treasured by me always.
This document outlines the HR policies of Cybage Software Pvt. Ltd., including policies related to employee work hours, leaves, holidays, performance reviews, and more. It details the company's open door policy for employees to provide suggestions to senior management or the HR department. The document also covers bonus structures for the employee referral scheme and performance appraisals that follow a 360 degree review process.
This document provides a case study of Airtel Telecom Bangladesh Ltd's total compensation strategy. It discusses the company's compensation objectives of efficiency, fairness, and compliance. It describes the company's hierarchy, HR policies around recruitment, training, job design, evaluation, and performance management. The company aims to motivate employees through competitive compensation and benefits packages. It uses various techniques like job enlargement and enrichment. Performance is linked to bonuses and salary increases. The study concludes the company's strategies are effective but could further focus on contractual employees and career development programs.
An IT company in the UAE should adopt a strategic total rewards management system to motivate its employees and increase market share in the blooming UAE IT market. Strategic total rewards considers an employee's total compensation and benefits to increase performance. The document discusses different compensation strategies from the perspective of employees and employers. It also provides examples of analyzing jobs as a lecturer, doctor, or IT technician in the UAE and factors to consider like required qualifications, prestige, duties and average salaries.
The document discusses several key aspects of human resource management (HRM) at Aotearoa Institute of Technology (AIT), including training and development, compensation, performance appraisal, industrial relations policies, and health and safety programs. It also identifies some areas for improvement at AIT, such as increasing interaction between employees and management, empowering women, and recognizing employee achievements. Recommendations are provided, such as holding social events to encourage understanding between diverse cultures and ensuring disciplinary policies are applied fairly and without bias.
The Influence of Incentive and Motivation on Employee Productivity in Koperas...ijtsrd
In carrying out activities in the company the employee will provide good performance when the employee gets incentives as additional income and encouragement from the leadership of the company. A company leader must be able to direct his employees to work together and try to always provide guidance to employees to improve performance through motivation given by the leadership to employees. Performance is the total of all activities carried out by all available resources in the company that work together so as to create a good work system in the company. In this study a total of 44 respondents were all employees in the Koperasi Gotong Royong Mandiri and were used as a sample. The results of the study explained that giving incentives had an effect on performance by 23.60 and motivation had an effect on performance by 5.44 and together the incentives and motivation had an effect on performance by 36.61 . Edward Alezandro Lbn. Raja | Togu Harlen Lbn. Raja | John G. Lbn. Raja "The Influence of Incentive and Motivation on Employee Productivity in Koperasi Gotong Royong Mandiri" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-3 | Issue-5 , August 2019, URL: https://www.ijtsrd.com/papers/ijtsrd27938.pdfPaper URL: https://www.ijtsrd.com/management/randd-management/27938/the-influence-of-incentive-and-motivation-on-employee-productivity-in-koperasi-gotong-royong-mandiri/edward-alezandro-lbn-raja
This document provides an outline and overview of employee benefits and services. It begins with an early history of benefits in the United States dating back to 1794. It then defines what employee benefits and services are, including both mandated and non-mandated benefits. Mandated benefits discussed include unemployment insurance, social security, and workers' compensation. Non-mandated benefits include retirement plans, health care, paid time off, and other employee services. The purpose of offering benefits from both the employee and employer perspective is also summarized.
This document appears to be the introduction or first chapter of a thesis paper on evaluating the performance of private commercial banks in Bangladesh. It provides background information and outlines the objectives, scope, and methodology of the study. It also gives brief overviews of the functions of Bangladesh Bank and selected private commercial banks that will be analyzed in the study. The document includes tables of contents, lists of tables and figures, and defines acronyms that will be used. It appears the full thesis will evaluate bank performance using various financial ratios and metrics, and will also examine credit ratings of the selected banks from rating agencies.
Analysing the Effectiveness of a Local Authority against Standards of Good Pr...Carl Page
To complete this task I needed to write a reflective account of my work placement experience. I had made notes, observations and documentation from my work place (e.g. H & S guidance, job descriptions, shift work strategy, management systems, hierarchy of qualifications and required experience(s) etc.) which will provide the starting point for these reflections. The frameworks allowed me to reflect and include legal and statutory frameworks, resourcing, human relations, client experience and business models. The reflective account therefore brings together theory and practice in the work place and provides an opportunity to analyse the effectiveness of the work environment in which gained experience. The conclusions identified the key issues of employability (such as required skills and personal qualities) which were drawn from my work place experience.
Fringe benefits is also known as employee benefits which is provided by the employer to employee additional to the wages, it might in monetary or non monetary terms.
Renata Ltd is one of the top pharmaceutical companies in Bangladesh. To evaluate Renata's financial performance and condition from 2010-2014, various liquidity ratios were analyzed. The current ratio fluctuated over the years, decreasing in 2011 and 2013 but increasing in 2012 and 2014. The quick ratio followed a similar trend. The average collection period and days inventory outstanding generally increased over the years, indicating slower collection of receivables and higher inventory levels being held. The accounts receivable and inventory turnover ratios decreased in most years, suggesting slower turnover of these current assets.
Pharmaceutical is a booming sector in the country today. Foreign investments have flowed into the country over the past few years in huge amounts. Bangladesh, with a population base of 160m provides a very prospective environment for foreign Pharmaceutical to invest. Who are increasingly becoming more capable of purchasing consumer goods, and this class is growing says a study by World Bank.
The Company started its operations as Pfizer (Bangladesh) Limited in 1972. For the next two decades it continued as a highly successful subsidiary of Pfizer Corporation. However, by the late 1990s the focus of Pfizer had shifted from formulations to research. In accordance with this transformation, Pfizer divested its interests in many countries, including Bangladesh. Specifically, in 1993 Pfizer transferred the ownership of its Bangladesh operations to local shareholders, and the name of the company was changed to Renata Limited.
In this report, we have tried to find out how Renata Limited maintains its Financial Accounting policies and develops its businesses in this one of the most competitive Pharmaceutical markets in the world. ACI Ltd, Beximco Pharmaceuticals Ltd, Essential Drugs Company Ltd, Square Pharmaceuticals Ltd etc are competitors of Pharmaceutical markets. The objective of this assignment is to begin to integrate the many concepts we have studied and to give an opportunity to apply our financial accounting in a real-world setting. Renata Limited performs this hard job through applying our studied strategies. Renata Limited is earning Goodwill and Customer Satisfaction through providing quality services and maintaining up-to-date business strategies. And after analyzing the reports and studying the market it is quite clear that they are fairing quite well according to their company objectives.
This document provides an introduction and overview for the publication "HR Best Practices 2017". It was published in India by Dun & Bradstreet Information Services India Pvt Ltd. and Sodexo SVC India Pvt. Ltd. The publication features case studies on best practices in key HR areas from recruiting to rewarding employees. It aims to help organizations transform their approach to human resource management practices to improve employee engagement and business outcomes. Sharing successful HR strategies can help all companies learn from each other's experiences and better manage their workforces.
1. The report analyzes recruitment of front line sales employees at Future Generali Life Insurance. It found high attrition and challenges in acquiring new talent.
2. Direct competition mapping identified strengths and weaknesses of Future Generali compared to competitors. It found Future Generali provided fewer leads to employees and had longer turnaround times than peers.
3. Recommendations included outsourcing hiring, reducing turnaround time, providing more leads to employees, and lowering sales targets to improve recruitment and retention.
Corporate Fitness provides wellness programs and services to businesses to improve employee health and productivity. It believes prevention is more effective than reactive treatment. The company aims to serve Seattle businesses and expand to Portland. It will market to companies and individuals, recruit experienced managers, and lower costs through improved health. The founders have invested $200,000 and taken a $100,000 loan to fund start-up costs including equipment, rent, and improvements. Sales are forecast to grow from $539,075 in year 1 to $650,750 in year 2 and $825,600 in year 3 as the company expands its client base.
This document discusses the annual report of Talwalkars Better Value Fitness Limited. It highlights the company's rapid expansion from 63 health clubs last year to over 100 health clubs currently across 50 cities in India. The company aims to further its growth by introducing new business models and concepts like "HI FI" gyms to make quality fitness facilities accessible to the masses in smaller towns at lower prices. Favorable demographics, rigorous staff training, a hub-and-spoke operating model, and a pan-India presence are identified as key drivers of the company's performance.
ProFitness will provide fitness programs and services at their facility in Kharghar, Navi Mumbai. They will offer affordable programs and equipment from reputable manufacturers. The business will target all age groups and segments of customers. ProFitness plans to establish itself as a leader in the fitness industry through strategic expansion and an initial public offering in the future.
The document discusses various topics related to compensation and benefits at Liberty Power, including:
- Pay-for-performance strategies and incentive plans to attract and retain top talent
- Conducting regular performance evaluations and adjusting compensation based on evaluations
- Providing a comprehensive benefits package including health insurance, paid time off, training programs, and retirement plans
- Using a PEO (professional employer organization) to help administer benefits and stay compliant with employment laws across states
This document summarizes the results of a study on a unique proven wellness program. The study provides definitive proof that the program leads to improved health outcomes and reduced healthcare costs. The program engages employees and spouses through individual health coaching, biometric screening, and financial incentives for participation. Data shows participation rates and healthcare claims decreased while program costs for employers were neutral.
Vigor Source provides wellness consulting services to help companies establish wellness programs. Their services include staffing wellness teams, collecting health data, creating wellness plans and choosing interventions. Partnering with Vigor Source can boost a company's bottom line by reducing healthcare costs and increasing productivity. On average, their clients see a 28% reduction in sick leave, 26% reduction in health costs, and 30% reduction in workers compensation claims. Their goal is to enhance employee and corporate well-being through health risk reduction and promotion of fitness.
The memo proposes implementing a Fitbit wellness program to address rising healthcare costs, decrease employee stress and fatigue, and improve productivity. It notes healthcare spending is 30% of total costs for employers and obesity contributes to increased spending. A survey found 71% of employees feel tired at work. The proposal is to distribute Fitbits, incentivize participation and health goals, and gather feedback to improve the program over time. It is estimated the program could save $3.27 for every $1 spent by decreasing medical costs and increasing performance. The director recommends starting April 1st and looks forward to discussing details.
T. Rowe Price has provided a article for Advisors regarding Financial wellness programs:
an opportunity to differentiate your practice and broaden your reach. Employers are increasingly seeking to offer holistic financial education that benefits both the employees and the company itself.
The document outlines six principles of an effective wellness program, referred to as Wellness 2.0. The first principle is strategic planning, which involves assessing employee health needs, interests, and policies to determine program goals. The second principle ties incentives to health outcomes and insurance premiums. The third builds a culture of wellness throughout the organization. The fourth utilizes technology and gamification to make the program engaging. The last two principles, which are not described, involve continuous measurement and evaluation, and communication and marketing.
The document summarizes a new fitness app called Lifestyler that aims to provide personalized training and nutrition plans at an affordable price by using advanced algorithms. It discusses the problems with current fitness apps and the opportunity in the market. Lifestyler's system can generate highly individual plans on par with a personal trainer and covers a wide range of fitness goals. The founders have fitness industry experience and plans are in place to expand the team and features of the app.
GMB Group Benefit Services provides tailored benefit strategies and ongoing administration and communication services to employer-sponsored benefit programs. Their mission is to provide clients with unique benefit strategies based on demographics and goals. They focus on seamless administration and one-on-one employee education to improve understanding and appreciation of provided benefits. GMB takes a four stage approach: discovery of needs, planning a strategic benefits plan, implementation including product selection and rollout, and periodic reviews to ensure plans stay aligned over time.
The physical therapy business plan outlines a comprehensive strategy for establishing and operating a successful rehabilitation services clinic. It includes market analysis, financial projections, operational details, and marketing strategies. Emphasizing patient-centered care and efficient workflow, the plan aims to address community needs, attract clients, and ensure sustainable growth.
Tturing and demergehis report helps in understanding corporate restructuring and demerger concept via Max India. It gives insight on the demerger and also critically analysis the after effects of the demerger.
This document provides an overview of health-contingent wellness programs and how they are categorized according to HIPAA regulations. It summarizes the three categories of programs: participatory, activity-only, and outcome-based. It also discusses HealthCheck360's proprietary scoring methodology, use of biometric data, and how their programs are designed to be cost-neutral while improving health outcomes and reducing claims costs over time.
Training Amigo is a corporate wellness company that provides online and onsite wellness solutions including customizable software, health education resources, and reporting/analytics tools. Their solutions help companies lower healthcare costs by encouraging employee engagement in wellness programs and creating a culture of health. However, many companies struggle with low employee participation in wellness programs and a lack of engagement at work. Training Amigo addresses these challenges through software that tracks employee activity/goals, management tools, and a focus on developing a wellness-conscious culture.
Attracting staff benefits and compensationCG Hylton Inc.
Chris Hylton will present on attracting staff through competitive compensation and benefits plans. He will discuss how to set up benefits and pension plans, deal with seasonal employees, and introduce flexibility. Hylton will cover creating a compensation plan tailored to an organization's mission and culture, developing consistent wage scales, and benefits like life insurance, disability, and health plans. Trends include health spending accounts and flexible benefits. Retirement plans like RSPs and defined benefit pensions will also be discussed. HR strategies to engage employees even without high pay will conclude the presentation.
A health coaching business plan outlines the strategy for establishing and operating a coaching service focused on improving clients' well-being. It typically includes market analysis, target demographics, service offerings, marketing strategies, financial projections, and operational details. The plan serves as a roadmap for the business, guiding its growth and ensuring a structured approach to promoting health and wellness.
ProFitness will open a new fitness center in Kharghar, Navi Mumbai to provide affordable fitness, body building, and weight loss programs. It will offer services like aerobics, cycling, yoga, and muscle training for Rs. 1000 per month. The founders have invested Rs. 1 crore. ProFitness expects to earn a net profit of Rs. 15.96 lakh in the first year by enrolling 50 members per month. It aims to eventually expand to other cities across India.
Balance Financial provides consumer driven health plans and customized benefit programs to help employers control rising health insurance costs. Their approach involves increasing employee cost-sharing and contributions, moving to different health plans, implementing new delivery systems and wellness programs, and educating employees on health care costs and choices. Balance Financial advocates forming a partnership with employers to design a customized plan that improves employee morale while better managing benefit dollars. They offer a complimentary review to discuss options for reducing rate increases and controlling costs.
Macroeconomics- Movie Location
This will be used as part of your Personal Professional Portfolio once graded.
Objective:
Prepare a presentation or a paper using research, basic comparative analysis, data organization and application of economic information. You will make an informed assessment of an economic climate outside of the United States to accomplish an entertainment industry objective.
বাংলাদেশের অর্থনৈতিক সমীক্ষা ২০২৪ [Bangladesh Economic Review 2024 Bangla.pdf] কম্পিউটার , ট্যাব ও স্মার্ট ফোন ভার্সন সহ সম্পূর্ণ বাংলা ই-বুক বা pdf বই " সুচিপত্র ...বুকমার্ক মেনু 🔖 ও হাইপার লিংক মেনু 📝👆 যুক্ত ..
আমাদের সবার জন্য খুব খুব গুরুত্বপূর্ণ একটি বই ..বিসিএস, ব্যাংক, ইউনিভার্সিটি ভর্তি ও যে কোন প্রতিযোগিতা মূলক পরীক্ষার জন্য এর খুব ইম্পরট্যান্ট একটি বিষয় ...তাছাড়া বাংলাদেশের সাম্প্রতিক যে কোন ডাটা বা তথ্য এই বইতে পাবেন ...
তাই একজন নাগরিক হিসাবে এই তথ্য গুলো আপনার জানা প্রয়োজন ...।
বিসিএস ও ব্যাংক এর লিখিত পরীক্ষা ...+এছাড়া মাধ্যমিক ও উচ্চমাধ্যমিকের স্টুডেন্টদের জন্য অনেক কাজে আসবে ...
Assessment and Planning in Educational technology.pptxKavitha Krishnan
In an education system, it is understood that assessment is only for the students, but on the other hand, the Assessment of teachers is also an important aspect of the education system that ensures teachers are providing high-quality instruction to students. The assessment process can be used to provide feedback and support for professional development, to inform decisions about teacher retention or promotion, or to evaluate teacher effectiveness for accountability purposes.
Introduction to AI for Nonprofits with Tapp NetworkTechSoup
Dive into the world of AI! Experts Jon Hill and Tareq Monaur will guide you through AI's role in enhancing nonprofit websites and basic marketing strategies, making it easy to understand and apply.
ISO/IEC 27001, ISO/IEC 42001, and GDPR: Best Practices for Implementation and...PECB
Denis is a dynamic and results-driven Chief Information Officer (CIO) with a distinguished career spanning information systems analysis and technical project management. With a proven track record of spearheading the design and delivery of cutting-edge Information Management solutions, he has consistently elevated business operations, streamlined reporting functions, and maximized process efficiency.
Certified as an ISO/IEC 27001: Information Security Management Systems (ISMS) Lead Implementer, Data Protection Officer, and Cyber Risks Analyst, Denis brings a heightened focus on data security, privacy, and cyber resilience to every endeavor.
His expertise extends across a diverse spectrum of reporting, database, and web development applications, underpinned by an exceptional grasp of data storage and virtualization technologies. His proficiency in application testing, database administration, and data cleansing ensures seamless execution of complex projects.
What sets Denis apart is his comprehensive understanding of Business and Systems Analysis technologies, honed through involvement in all phases of the Software Development Lifecycle (SDLC). From meticulous requirements gathering to precise analysis, innovative design, rigorous development, thorough testing, and successful implementation, he has consistently delivered exceptional results.
Throughout his career, he has taken on multifaceted roles, from leading technical project management teams to owning solutions that drive operational excellence. His conscientious and proactive approach is unwavering, whether he is working independently or collaboratively within a team. His ability to connect with colleagues on a personal level underscores his commitment to fostering a harmonious and productive workplace environment.
Date: May 29, 2024
Tags: Information Security, ISO/IEC 27001, ISO/IEC 42001, Artificial Intelligence, GDPR
-------------------------------------------------------------------------------
Find out more about ISO training and certification services
Training: ISO/IEC 27001 Information Security Management System - EN | PECB
ISO/IEC 42001 Artificial Intelligence Management System - EN | PECB
General Data Protection Regulation (GDPR) - Training Courses - EN | PECB
Webinars: https://pecb.com/webinars
Article: https://pecb.com/article
-------------------------------------------------------------------------------
For more information about PECB:
Website: https://pecb.com/
LinkedIn: https://www.linkedin.com/company/pecb/
Facebook: https://www.facebook.com/PECBInternational/
Slideshare: http://www.slideshare.net/PECBCERTIFICATION
The simplified electron and muon model, Oscillating Spacetime: The Foundation...RitikBhardwaj56
Discover the Simplified Electron and Muon Model: A New Wave-Based Approach to Understanding Particles delves into a groundbreaking theory that presents electrons and muons as rotating soliton waves within oscillating spacetime. Geared towards students, researchers, and science buffs, this book breaks down complex ideas into simple explanations. It covers topics such as electron waves, temporal dynamics, and the implications of this model on particle physics. With clear illustrations and easy-to-follow explanations, readers will gain a new outlook on the universe's fundamental nature.
How to Manage Your Lost Opportunities in Odoo 17 CRMCeline George
Odoo 17 CRM allows us to track why we lose sales opportunities with "Lost Reasons." This helps analyze our sales process and identify areas for improvement. Here's how to configure lost reasons in Odoo 17 CRM
How to Add Chatter in the odoo 17 ERP ModuleCeline George
In Odoo, the chatter is like a chat tool that helps you work together on records. You can leave notes and track things, making it easier to talk with your team and partners. Inside chatter, all communication history, activity, and changes will be displayed.
Strategies for Effective Upskilling is a presentation by Chinwendu Peace in a Your Skill Boost Masterclass organisation by the Excellence Foundation for South Sudan on 08th and 09th June 2024 from 1 PM to 3 PM on each day.
1. “platinumfitness”
HEALTHCARE BUSINESS PLAN
BY
LAHUNMIKI MYRIA
ROLL NUMBER:B1700016
A Project
Submitted to the department
Of Business Administration
SHILLONG COLLEGE
In partial fulfilment on the requirement
For the degree of
Bachelor of Business administration
May 2020
2. Executive Summary
Platinum Fitness will serve Shillong area businesses, helping them to become more productive,
while lowering their overall costs.
Our business is based on two simple facts:
1. Healthy employees are more productive than chronically ill employees.
2. It costs less to prevent injuries or illnesses than to treat them after they occur.
At Platinum Fitness, we tie worker productivity directly to the health care issue. We believe that
traditional approaches to the current health care crisis are misdirected. These traditional efforts
are what we call reactive-that is, they wait until after the worker has been stricken with illness or
injury, and then pay for the necessary treatments. Our approach, which emphasizes prevention
and good health promotion, is much more proactive.
By helping employees change their behavior patterns and choose more healthy lifestyles,
Platinum Fitness will lower companies' health care expenditures, while raising worker
productivity. Health care expenditures will decrease due to reduced medical insurance premiums,
reduced absenteeism, reduced turnover rates, reduced worker's compensation claims, reduced
tardiness, shorter hospital stays, etc.
The Indian's health care crisis, coupled with current demographic changes, threaten to not only
exacerbate the crisis, but further erode worker productivity as well. These environmental factors
coupled with the local competitive situation signal a favorable opportunity in this market. We
feel the time is right for Platinum Fitness.
3. 1.1 Objectives
1. Provide wellness strategies/programs to businesses in the Shillong area.
2. Create working relationships with 20 companies by the end of year one.
3. Expand Platinum Fitness into Whole of India by the end of year two.
1.2 Keys to Success
Platinum Fitness' keys to success are:
Marketing services to companies and individuals.
Recruitment of experienced managerial talent.
Dedication and hard work of the founders.
Raising productivity.
Lowering overall costs.
1.3 Mission
Platinum Fitness is a health service that helps businesses and individual workers attain
one of the greatest gifts of all--that of good health. Personal gains, such as improved
4. self-esteem and self-motivation, combined with measurable benefits will create
tremendous advantages for both the employer and the employee.
5. Company Summary
Platinum Fitness is based on the belief that healthy employees are more productive and efficient
employees. For this reason, it provides wellness strategies/programs to businesses in the Shillong
area. This combines promotion of health and exercise-related activities designed to facilitate
positive lifestyle changes in members of a company's work force.
The company began in Shillong, founded by Lahunmiki Myria
2.1 Company Ownership
Platinum Fitness is a privately held corporation.
2.2 Start-up Summary
Start-up will require approximately Rs.600,000 of capital, Rs.300,000 of which will be
provided by the founder and his families. The remaining Rs.300,000 will come as a loan.
Approximately Rs.4,40,000 will be allocated to leasehold improvements and Rs.1,75,000
to equipment.
Platinum Fitness is a health service that helps businesses and individual workers attain one of the
greatest gifts of all--that of good health. Personal gains, such as improved self-esteem and self-
motivation, combined with measurable benefits will create tremendous advantages for both the
employer and the employee.
6. START-UP FUNDING
Start-up Expenses to Fund Rs.5,50,000
Start-up Assets to Fund Rs.50,000
TOTAL FUNDING REQUIRED RS.6,00,000
Assets
Non-cash Assets from Start-up Rs.0
Cash Requirements from Start-up Rs.50,000
Additional Cash Raised Rs.
Cash Balance on Starting Date Rs.50,000
TOTAL ASSETS RS.50,000
Liabilities and Capital
Liabilities
Current Borrowing Rs.0
Long-term Liabilities Rs.3,00,000
Accounts Payable (Outstanding Bills) Rs.0
Other Current Liabilities (interest-free) Rs.0
TOTAL LIABILITIES RS.3,00,000
Capital
Planned Investment
Investor Rs.3,00,000
Additional Investment Requirement Rs.0
TOTAL PLANNED INVESTMENT RS.3,00,000
Loss at Start-up (Start-up Expenses) Rs.5,50,000
TOTAL CAPITAL RS.2,50,000
TOTAL CAPITAL AND LIABILITIES RS.50,000
Total Funding Rs.3,00,000
7. START-UP
Requirements
Start-up Expenses
Legal Rs.31,250 Rs.31,250
Stationery etc. Rs.31,000 Rs.31,000
Brochures Rs.4,000 Rs.4,000
Insurance Rs.35,000 Rs.35,000
Rent Rs.1,00,000 Rs.1,00,000
Expensed Equipment Rs.1,15,000 Rs.1,15,000
Utilities Rs.2,500 Rs.2,500
Leasehold improvements Rs.1,60,000 Rs.1,60,000
Other Rs.71,250 Rs.71,250
TOTAL START-UP EXPENSES RS.5,50,000 RS.5,50,000
Start-up Assets
Cash Required Rs.50,000 Rs.50,000
Other Current Assets ---- ----
Long-term Assets ---- ----
TOTAL ASSETS RS.50,000 RS.50,000
Total Requirements Rs.6,00,000
8. 2.3 Company Locations and Facilities
Platinum Fitness headquarters are located within the first club located in Shillong. Upon
expansion, offices will be moved to a different location, not within any individual club.
9. Services
Business ratios for Platinum Fitness indicate strong financial growth and an impressive
chance for investment opportunities, making expansion and further development both
very possible.
3.1 Service Description
Platinum Fitness provides wellness strategies/programs to businesses in the downtown
Seattle area. A wellness strategy is a long-term effort, combining both health-promotion
and exercise-relatedactivities designed to facilitate positive lifestyle changes in members
of a company's work force.
Patinum Fitness will work with a company's senior management to help it develop a
mission statement for its wellness program. The client company's employees will
undergo a health-risk analysis, following which each employee will be given the
opportunity to meet with a health professional to design a personalized health program.
Finally, Platinum Fitness will furnish employee progress reports to senior management
with which to carry out the incentive program and generally monitor changes in the
behavior of its work force.
10. 3.2 Competitive Comparison
Platinum Fitness is not primarily a health club, as are the majority of competitors. This
organization is in the business of health care cost management. The major function is to work
with client companies to implement wellness strategies. Many employees will become
benefactors of such strategies without ever visiting the fitness facility, as exercise is only one
facet of overall wellness.
Platinum Fitness has a vested interest in each individual member of every wellness program,
unlike many competitors. An integral part of this service is following up and monitoring the
individuals.
3.3 Fulfillment
All fitness machines are purchased from exercise equipment distributors, while all medical
equipment is bought from a reputable supply company.
11. Market Analysis Summary
According to Data Bridge Market Research , India Healthcare IT Market provides a
comprehensive analysis of the Healthcare IT Analysis Market segments, including their
dynamics, size, growth, regulatory requirements, competitive landscape, and emerging
opportunities of global industry.This report also provides market landscape and market
share information in the Healthcare IT Analysis Market.
Healthcare IT market is expected to gain market growth in the forecast period of 2020 to
2027. Data Bridge Market Research analyses the market to account to a CAGR of
23.85% in the above-mentioned forecast period.
Important demographic changes are taking place in America that point to the importance of
worker productivity in coming decades.
16 million new jobs will be created by the year 2000, but there will only be 14 million
workers to fill them.
By 1995, women will comprise one-third of the work force, a ratio that will increase to one-
half by the year 2000.
An estimated 60 percent of jobs to be filled in the immediate future will require more than a
high-school education. Only 44 percent of Indian, however, finish high school, and only 57
percent graduate with adequate skills.
The number of skilled workers available to fill new jobs is decreasing, meaning that
employers are facing more severe competition for labor. Thus, the health and productivity of
each employee becomes crucial to a company's success.
12. 4.1 Market Segmentation
The market for Platinum fitness is not particularly segmented, as potential customers include all
downtown businesses that offer their employees some type of medical benefits, are experiencing
escalating health care costs, and wish to more effectively manage those costs.
Corporate Fitness, however, segments its services for individual organizations. Platinum Fitness
works with senior management to develop mission statements and provide incentive plans, and
with employees to design personalized health and fitness programs.
13. 4.2 Service Business Analysis
Several small fitness facilities are currently in operation in the downtown area, none of
which cater their services to corporations. These organizations are primarily exercise
facilities with little emphasis on personalizing individual plans to improve working
performance.
4.2.1 Main Competitors
The three main competitors for Platinum Fitness are:
Synergy Gym-market is lower-income families and/or students who want
accessibility and affordability of fitness facilities.
Gold's Gym-services are targeted toward those motivated and dedicated individuals
who workout five to seven times per week.
Flex Appeal Gym and aerobic studio-aimed at casual fitness-seekers who do not
workout with a high intensity but still desire the status and recognition.
4.2.2 Distributing a Service
Few fitness centers are located in the downtown Seattle area, while the majority are
found in suburban neighborhoods and shopping complexes. Those in the downtown area
are located close to professional centers containing restaurants, parks, and other
recreational activities. In suburban locales, these establishments are often found close to
grocery stores, restaurants, and retail stores.
4.2.3 Business Participants
Participants in the fitness industry include national, regional, and local organizations. On
the national level, companies such as Gold's Gym and the Synergy offer exercise
facilities and training programs. At the regional level, firms such as Flex Appeal Gym
and Aerobics studio offer comparable services, while locally, privately-owned businesses
provide similar, but less extensive services to exercise-seekers.
14. Strategy and Implementation Summary
Platinum Fitness' strategy is based on raising worker productivity and lowering overall
costs for businesses. The most logical way to approach these factors is through a healthy
work force. Companies that implement wellness programs with Platinum Fitness will be
encouraged to look at the "big picture" regarding the effects of its wellness programs.
Thus, one marketing goal is to persuade more traditionally managed companies that
wellness can work for them.
By tailoring services and developing customized programs for companies and individual
employees, Platinum Fitness will develop a reputation for quality and customer service.
5.1 Milestones
Sample Milestones topic text.
The milestones table and chart show the specific detail about actual program activities
that should be taking place during the year. Each one has its manager, starting date,
ending date, and budget. During the year we will be keeping track of implementation
against plan, with reports on the timely completion of these activities as planned.
15. 5.2 Marketing Strategy
Platinum Fitness will begin by targeting small- to medium-sized businesses in the
downtown Seattle area. The first task is to convince senior executives of the benefits and
needs of wellness programs. This will be accomplished by aggressively pursuing
interaction and relationships with business professionals who would profit from using
this service. Once a strong image is established, Platinum Fitness will use similar
strategies to market its services to larger corporations in Shillong and other areas of
expansion.
5.2.1 Pricing Strategy
Prices for using Platinum Fitness' services are comparable to those of higher-end fitness
centers. An employee choosing to utilize a Platinum Fitness center will pay a Rs.1,800
monthly fee. For each employee enrolled in the general wellness program, regardless of
whether or not they use the fitness facility, the employer will pay Rs.15,000 annually.
The prices reflect the quality of the equipment and service.
5.2.2 Promotion Strategy
Following initial promotional activity through advertisements in newspapers, magazines,
and on television and radio, Platinum Fitness will significantly reduce its promotional
efforts in the hope that word-of-mouth will attract potential clients. Promotional activity
will still be utilized through these media outlets, but only minimally
16. 5.3 Sales Strategy
This proprietary information was omitted from the sample plan.
5.3.1 Sales Forecast
Anticipated sales are shown in the accompanying table and chart.
17. SALES FORECAST
YEAR 1 YEAR 2 YEAR 3
Sales
Sales Rs.5,39,075 Rs.6,50,750 Rs.8,25,600
Other Rs.0 Rs.0 Rs.0
TOTAL SALES RS.5,39,075 RS.6,50,750 RS.8,25,600
Direct Cost of Sales Year 1 Year 2 Year 3
Cost of Sales Rs.33,000 Rs.44,000 Rs.55,000
Other Rs.0 Rs.0 Rs.0
Subtotal Direct Cost of Sales Rs.33,000 Rs.44,000 Rs.55,000
18. . Management Summary
Platinum Fitness is currently a small organization headed by three individuals. The
CEO/Director of Sales and Marketing oversees the activities of the Director of Health and
Wellness Programs and the Director of Finance and Administration.
The Director of Health and Wellness Programs is the contact for and supervisor of the fitness
specialists and health educators and promoters.
The Director of Finance and Administration provides guidance for fitness facility attendants.
As the firm grows and expands, more director positions will be added as needed.
6.1 Organizational Structure
There are currently two divisions of Platinum Fitness: "Health and Wellness" and "Finance and
Administration." With the growth of the company, more divisions will be created as the demand
for services increases.
19. 6.2 Management Team Gaps
The gaps of Platinum Fitness' management team include:
Lack of experience in the fitness industry.
Minimal expertise in areas of finance and accounting.
Strong desire for financial prosperity immediately with little patience for minimal
profitability.
6.4 Personnel Plan
Platinum Fitness' personnel staff requirements are shown in the table below.
PERSONNEL PLAN
YEAR 1 YEAR 2 YEAR 3
Fitness Center Management Rs.25,000 Rs.25,000 Rs.25,000
Program Director Rs.94,000 Rs.94,000 Rs.94,000
Personnel Manager Rs.56,000 Rs.56,000 Rs.56,000
Health/Fitness Specialists Rs.53,000 Rs.53,000 Rs.53,000
Attendants Rs.22,000 Rs.22,000 Rs.22,000
TOTAL PEOPLE 0 0 0
Total Payroll Rs.2,50,000 Rs.2,50,000 Rs.2,50,000
20. Financial Plan
Consulting revenue will make up approximately 85 to 90 percent of total revenue, with the
rest coming from service revenue.
Salaries and rent are the two major expenses, while depreciation is another significant cost.
Although the purchasing of fitness, medical, and office equipment is expensive, constant
replacement will be needed to maintain a competitive edge.
In order to maintain steady gross margins, salaries and advertising expenses are not likely to
increase within the first two years of operation, unless cash flows significantly increase.
7.1 Important Assumptions
Three assumptions for Platinum Fitness are:
1. A constantly growing economy without any major recession or boom.
2. No unpredictable changes in fitness, medical, or office equipment.
3. No major national or global events that threaten the stability and health of the country and
its citizens.
GENERAL ASSUMPTIONS
YEAR 1 YEAR 2 YEAR 3
Plan Month 1 2 3
Current Interest Rate 3.00% 3.00% 3.00%
Long-term Interest Rate 10.00% 10.00% 10.00%
Tax Rate 25.00% 25.00% 25.00%
Other 0 0 0
21. 7.2 Key Financial Indicators
The most important financial indicators are net increase in cash and net income. Net
increase from cash will exemplify the relationship between net income and net cash from
operating activities. The greater the increase is, Platinum Fitness has that level of
financial strength at that point in time.
22. 7.3 Break-evenAnalysis
Platinum Fitness' break-even point is computed in the table below, comparing sales and monthly
expenses. Sales forecasts indicate that units sold and monthly sales are expected to be much
greater than the break-even point mentioned in the table.
BREAK-EVEN ANALYSIS
Monthly Revenue Break-even Rs.50,683
Assumptions:
Average Percent Variable Cost 6%
Estimated Monthly Fixed Cost Rs.45,050
23. 7.4 Projected Profit and Loss
Sales are predicted to increase each month with first year annual sales totaling close to a lakh
rupees. Gross margin, likewise, is expected to increase correspondingly.
PRO FORMA PROFIT AND LOSS
YEAR 1 YEAR 2 YEAR 3
Sales Rs.5,39,075 Rs6,50,750 Rs.8,25,600
Direct Cost of Sales Rs.33,000 Rs.44,000 Rs.55,000
Other Costs of Sales 0 0 0
TOTAL COST OF SALES RS.33,000 RS.44,000 RS.55,000
Gross Margin Rs.5,06,075 Rs.6,06,750 Rs.7,70,600
Gross Margin % 93.88% 93.24% 93.34%
Expenses
Payroll Rs.150,000 Rs.150,000 Rs.150,000
Marketing/Promotion Rs.25,200 Rs.25,200 Rs.25,200
Depreciation Rs.7,200 Rs.7,200 Rs.7,200
Rent Rs.60,000 Rs.60,000 Rs.6,000
Utilities Rs.25,200 Rs.25,200 Rs.25,200
Insurance Rs.5,400 Rs.5,400 Rs.5,400
Leased Equipment Rs.27,600 Rs.27,600 Rs.27,600
Payroll Taxes 0 0 0
Other 0 0 0
Total Operating Expenses Rs.3,00,600 Rs.3,00,600 Rs.2,46,600
Profit Before Interest and Taxes Rs.2,05,475 Rs.3,06,150 Rs.5,24,000
EBITDA Rs.2,12,675 Rs.3,13,350 Rs.5,31,200
Interest Expense Rs.10,449 Rs.8,500 Rs.7,500
Taxes Incurred Rs.48,757 Rs.74,413 Rs.129,125
Net Profit Rs.1,46,270 Rs.2,23,238 Rs.3,87,375
Net Profit/Sales 27.13% 34.30% 46.92%
24. 7.5 Projected Cash Flow
Ordinary cash flow will increase significantly while expenses remain relatively static, with only
minimal increases. We plan to take out a short-term loan to cover our receivables and other
contingencies in month one, and repay it in month 12.
PRO FORMA CASH FLOW
YEAR 1 YEAR 2 YEAR 3
Cash Received
Cash from Operations
Cash Sales Rs.2,15,630 Rs.2,60,300 Rs.3,30,240
Cash from Receivables Rs.2,30,395 Rs.3.71,174 Rs.4,65,179
SUBTOTAL CASH FROM OPERATIONS RS.4,46,025 RS.6,31,474 RS.7,95,419
Additional Cash Received
Sales Tax, VAT, HST/GST Received 0 0 0
New Current Borrowing Rs.36,000 0 0
New Other Liabilities (interest-free) 0 0 0
New Long-term Liabilities 0 0 0
Sales of Other Current Assets 0 0 0
Sales of Long-term Assets 0 0 0
New Investment Received 0 0 0
SUBTOTAL CASH RECEIVED RS.4,82,025 RS.6.31,474 RS.7,95,419
25. 7.7 Business Ratios
The following table outlines some of Platinum Fitness' more important business ratios.
The final column, Industry Profile, details specific ratios based on the Physical Fitness
Facilities industry as it is classified by the Standard Industry Classification (SIC) code,
7991. These ratios indicate strong financial growth and an impressive chance for
investment opportunities, making expansion and further development both very possible.
Expenditures Year 1 Year 2 Year 3
Expenditures from Operations
Cash Spending Rs.150,000 Rs.150,000 Rs.150,000
Bill Payments Rs.206,122 Rs.277,578 Rs.280,145
SUBTOTAL SPENT ON OPERATIONS RS.356,122 RS.427,578 RS.430,145
Additional Cash Spent
Sales Tax, VAT, HST/GST Paid Out 0 0 0
Principal Repayment of Current Borrowing Rs.36,000 0 0
Other Liabilities Principal Repayment 0 0 0
Long-term Liabilities Principal Repayment Rs.10,000 Rs.10,000 Rs.10,000
Purchase Other Current Assets 0 0 0
Purchase Long-term Assets Rs.9,600 Rs.9,600 Rs.9,600
Dividends 0 0 0
SUBTOTAL CASH SPENT RS.4,11,722 RS.4,47,178 RS.4,49,745
Net Cash Flow Rs.70,303 Rs.184,295 Rs.345,675
Cash Balance Rs.80,303 Rs.2,64,599 Rs.610,273