Strategy Implementation Procter Gamble Company

Strategy Implementation Procter Gamble Company Procter and Gamble Company (PG) is USs leading maker of household consumer products. With its headquarters in Downtown Cincinnati Ohio, PG is also a Fortune 500 American multinational corporation highly recognized for a chain of business innovations (Katrina, 1999.p.146). PG for instance has been admired for effective brand management and the soap operas. The company has operations representation in at least 80 countries internationally providing a range of products in diverse categories including; beauty care, health care, baby care, beverages, home care, and snacks among others (Griffin, 2006.p.138). Corporate strategy is every companys tool for competitive advantage attainment. This paper undertakes to evaluate how corporate strategy and other structural changes impacted on PGs competitive advantage since the 1990s. Specific focus is directed toward the key changes that occurred in the company in the 1990s and the contribution made by Al Lafley in his nine year tenure at PG. PG company was formed with intention of providing quality branded products and services for the consumers in the international market. As a profit company, it aimed at winning consumers in the competitive market environment through exploiting excellent leadership, quality and value service provision. PG started in 1837 as a partnership between William Procter and James Gamble to manufacture and sell candles and soap. Today, PG has over 300 brands marketed and sold in over 160counties across the globe. PG has 16 of her key products producing revenue in excess of $1 billion per year. These products include; Ariel, Downy, and Tide (laundry products); Actonel (for osteoporosis treatment); Always (feminine protection); Bounty (paper towels); Charmin (bathroom tissue); Crest (toothpaste); Folgers (coffee); Iams (pet food); Olay (skin care product); Pampers (diapers); Pringles (snacks); and Head Shoulders, Pantene, and Wella (hair care products) (Katrina, 1999.p.146). Reading PGs company history, the company had performed quite well over the ears since its inception, overcoming market challenges (social, economic and political) through tactful brand management and innovative strategies until brand equity challenges emerged in the late 1980s and early 1990s. Some of the earlier successes of PG Company included; rapid growth and expansion during the 1850s amid strong competition, prosperity during the civil war period during which her competitors outputs plummeted, the introduction of innovative employee benefits in 1903 hence becoming a renowned employee-benefit programs leader, and the one man one brand brand management debut of 1931 which made brand management at PG become a fixture to be replicated by other companies (Boyer, 2009.p.494). PG Company was also able to successfully circumvent around the Great depression to emerge virtually unscathed. With radio playing a key role to deliver PG information into homes at the time, PG began sponsorship of radios serials in 1933 which were later referred to as soap operas Her fame for packaging expertise earned PG a military application by government to oversee Ordinance plants construction and operations. Talking of the successes at PG can not be complete without mentioning the Companys post World War II growth miracle that was fueled by the introduction of a synthetic detergent (Tide) in 1946 which brought a complete shift in the cloth washing trends at the time. Investing in further research and the tapping into acquisition strategy made PG to remain on profit making axis over years since the 1950s (Redmond, 2010.p.162). In the late 1980s and early 1990s, the weakening of economy coupled with the resulting consumer value bias started to weaken the brand equity for PG. These occurrences favored performance of private labels in both health and beauty lines. PG responded to this threat by launching Every Day Low Pricing (EDLP) strategy to induce consumers while implementing promotional kickbacks for wholesalers. The EDLP covered 50-60%of the companys product range which included; pampers and Luvs diapers, Cascade dish soap, and Jif peanut butter. Although the Company strategy was met by mixed reactions with some retailers rejecting it, many others supported the Companies value-conscious positioning efforts. With this support, PG actually made good savings from trade promotions which were then ploughed back into direct marketing activities meant to reach out to some target groups for narrow market base brands through the coupon and sample programs. The target products for the program included Pampers, Cl earasil, and Oil of Olay (Harmon, 2003.p.352). PG also joined the green bandwagon of environmental marketing by adoption of reduced packaging strategy which saw the company provide concentrated product formulations in relatively smaller packages, as well as refill packs applied for 38 of the companys brands across 17 countries in the 1990s. In July 1991, PG acquired the international Max Factor and Betrix lines from Revlon, Inc., thus expanding PGs presence in cosmetics and fragrances. As part of her strategy to attain meaningful growth, PG also divested her holdings in those areas the company considered to have outgrown. For instance, in 1992, PG sold almost 50% of her cellulose and specialties pulp trade to Weyerhaeuser Company (Katrina, 1999.p.147). Vertical integration had been observed to have helped PG develop her paper products in the past. However, with time, things had change and he 1990s saw unprofitable and distracting forest trade. Therefore in 1992, PG decided to sell off the Italian coffee business to allow more focus on the core European brands. The Companys strategy was to tap into the well established regional markets through introduction of pan-European packaged, branded and advertised products. In the next section, this paper explores PGs major restructurings and Acquisitions pursued in mid to late 1990s period (Griffin, 2006.p.138). The main objectives of PG at this time were to enhance its competitive advantage in the market through various designed strategies and policy options. Specific goals for the company included; ensuring that her brand-name products became more price-competitive so that they could effectively compete the private label and generic brands in the market; enhancing efficiency so that products reach the market aster, and increasing the companys profit margins. To achieve, these, PG pursued a number of cost cutting policy measures including winding up of 30 of her international plants and laying off 12% of her total workforce (13000 jobs). The estimated cost of the restructuring program was $2.4 billion and the estimated accrued savings for the company were to a tune of over $600 million. Together with these, the program raised the companys net income margins from 7.3% to 10.2% in 1994 and 1998 respectively (Dana, 1997.p.D1). The restructuring period was to reach its culmination in 1997. But in the course of the restructuring process, PG increased its pace for acquisitions, making a considerable number of acquisitions in the period, some of which were quite successful, while some became a big failure. These acquisitions included: the 1994 purchase of Vereinigte Papierwerke Schickedanz AGs European tissue unit with aim to venture into European tissue and towel trade. PG also acquired Giorgio Beverly Hills, Incs prestige fragrance business. During the same year 1994, when the US lifted the existing sanctions, PG ventured back into the South African market and subsequently changed its geographic management framework in 1995; apportioning its operations into two (namely- US and International) with four regions in total (i.e. Asia, North America, Latin America, and Europe/Middle East/Africa). At the same time, IN July 1995, the company leadership (CEO) changed hands from Artzt to Pepper. Durk I. Jager (Harmon, 2003.p.352). It was during 1996 that PG bought the Eagle Snacks brand that that was before then a property of Anheuser-Busch. Other brands purchased the same year included; the Latin American brands Lavan San household cleaner and Magia Blanca bleach and Baby Fresh of US. Perhaps the most memorable event of 1996 for this company was the receiving of approval from the U.S Food Drug Administration (FDA) to use the controversial olestra (Boyer, 2009.p.494). Olestra was a fat substitute to be applied in snacks and crackers. PG had spent about $250 million to conduct research about olestra and by the time FDA was approving the product, a stipulation had already been circulated by FDA that a label must be attached to any food with these substance in it to warn the public of possible gastrointestinal side effects. This impacted heavily on the products ability to gain market, and even with concerted test marketing efforts, products with olestra never ever caught on in the market. In the long run, Olestra was declared one of PGs biggest product failures in the companys history (Boyer, 2009.p.494). After acquisition of Tambrands, Inc. and the Tampax tampons line in 1997, PG launched a new restructuring plan in 1998 and named it Organization 2005. This was after PG had failed to realize the 1996 set goals of doubling profits to $70 billion by 2005 from the then $35 billion. The calculated growth rate had to be 7 annually, but the actual realized growth rate was only 4% hence profits had stagnated around $37.5 billion figure. PG therefore aimed to make a structural shift from the 1995 Organization centered model (of four regions) to a one centered model with seven business units defined on product line basis. The product lines were as follows; Tissues Towels, Baby Care, Fabric Home Care, Beauty Care, Feminine Protection, , Health Care Corporate New Ventures, and Food Beverage (Katrina, 1999.p.146). These changes were important to PG since they aimed at attaining higher innovation and speed through the deliberate strategy and profit responsibility positioning of brands internationally as opposed to centering on geographic locations. These events coincided with the scheduled take over of Jager as the companys president and he subsequently was given the mantle to lead the strategy implementation. Aiming at enhanced innovation and high revenue and profit levels, Jager introduced new initiatives in 1999 to extend those introduced in 1995. These included resolve to continue with more acquisitions, cut down the number of workers by 15000 by year 2005, close down at least 10 factories, and spent an estimated $1.9 billion on restructuring by the year 2005. It is during this period that PG acquired the Iams Company, marking PGs biggest deal that cost $2.22 billion in cash. Iams Company was among the leading manufactures of premium pet food in the US with established global yearly sales estimated at $800 million. Next to acquire was the Recovery Engineering, Inc. at an estimated cost of $265 million. This newly acquired company was based in Minneapolis and produced the water-filter brand PUR that had been on a fast growth path. Attempts by Jager to join the company with the Warner-Lambert company into a risky drug business in 2000 flopped Jagers intention to take over Gillette (razor making) company was rebuffed very quickly in the same year (Dana, 1997.p.D1) While this was happening, PG had by June 2000 issued a 3rd profit warning in a year. These developments forced Jager to resign and subsequently A.G. Lafley assumed the company leadership in capacity of the President and CEO of PG in June 2000 (Dyer, 2004.P.496). The new CEO, A.G. Lafley had joined PG in June 1977, starting as a brand assistant for Joy product. Before his promotion to CEO position, he had been heading the global beauty care unit. What a time t be promoted to the top seat! In the next section, this paper considers Lafleys contribution to the company during his entire 9 year tenure. Having made his first impression at PG simplifying life in the laundry room as he led colleagues in launching liquid Tide, Lafleys strategy applied Druckers back-to-basics formula to overhaul and clean up the entire PG House (Redmond, 2010.p.162). Right from the beginning of his tenure of the top job A.G. Lafley became famous for his four word business winning principle The consumer is boss. In what would perhaps appear like a fools errand to attempt at narrowing down the matching orders that govern an estimated 138000 employees in over80 nations to simple chestnut, Lafleys keep it simple strategy would emerge to speak a lot for itself through the four word phrase The consumer is boss, as the business mantra which he kept on singing to his team (Redmond, 2010.p.163). Lafley started off by slowing down the existing rush to send products into markets. He did this purposely to ensure that the products would be given adequate marketing support before getting into the competitive arena. Lafley then re-focused the companys resources towards shoring up PGs top brands that could earn the company global revenue of at least $1 billion annually. These were just about a dozen products. He immediately re-branded the Oil of Olay to be simply called Olay. This was aimed at allay the notion that Oil of Olay was greasy. Focused on a small number of key brands, the company sold of Clearasil (the acne-treatment brand) for an estimated $340 million to Boots PLC. In the same period FDA gave approval to PG for Actonel brand (prescription treatment for osteoporosis), which was later marketed and attained a remarkable $1billion yearly sales for the trade year 2004 (Boyer, 2009.p.494). Lafley changed the traditional Company approach which tended to favor externally sourced product ideas. He significantly reduced development projects, promoted culture of collaboration with external world as opposed to self centered tradition initially pursued, and went ahead to outsource PGs including manufacturing of oldest brands in the company such as Ivory bar soap. Lafley also significantly restructured the companys workforce through focusing on top-priority countries, advocating for enhanced collaboration within the company divisions, and considerable reduction in number of the total company workforce (by an estimated 20,000 jobs) which included significant number of top level management staff (about 50%) (Harmon, 2003.p.352) A.G. Lafley entrenched some goal winning principles in the remaining team, which he referred to as two consumer moments of truth- first, buying PG products and then, liking them so much that its memorable-at least satisfying and ideally delighting. Lafley argued that since more than 50% of PGs workforce did not have English as their native language, he need to make use of simple slogans which when repeated again and again would keep everyone at pace with current state of affairs in the company. Therefore he maintained Human beings dont want to stay focused, so my job is to get them to focus their creativity around the focus; focus their productivity around the focus; focus their efficiency or effectiveness around the focus (Griffin, 2006.p.138). In summary, aside from the simple effective strategies he pursued to turn around PG, Lafleys 9 year tenure left took the company to the top, more than doubling the sales and significantly expanding the companys range of top brands (those with sales between $500million to $1billion annually) fivefold. Lafley is recognized for shaping PG into a more externally focused and consumer-driven alongside developing a more advanced innovations and employee relations culture at Procter and Gamble (Redmond, 2010.p.163).

Effects of Social Networking Sites Essay

The implementation of social networking sites has changed how the average person communicates with others. Studies show that the average person spends at least nine hours a week surfing and posting on social network sites (http://socialnetworking.procon.org/). In fact, using social networking sites has not only improved our communication skills, but has had a negative impact as well. One of the many pros and cons to communicating on a networking site is the ability to â€Å"stay connected.† When a student graduates, a loved one moves, or a career changes, everyone wants to keep up with people they have grown to care for. Being on a social networking site, you can â€Å"friend request† people you know to keep up with their day to day actions. This ensures we don’t miss out on parts of someone’s life where we want to be included. Increasing the communication you have with someone, even online, strengthens your relationship. Unfortunately, being able to â€Å"stay connected† has kept thousands connected in a less than personal way. Networking sites entice people to stay online and spend less face-to-face time with others. So, you may be connecting to friends and family, but you are being distracted by the time wasting activities and applications the site supplies. Your mother doesn’t really care if you reached level ten in t he Adventures of Indiana Jones on Facebook. She wants to know how you are doing in your classes at school. Read more:  Essays on Social Networking Another way networking sites are affecting society is evident in the ability to find new people. Making new friends can be a wonderful thing. Consider the following scenario, you are interested in a certain musician and find their â€Å"page† on your networking site. On that same page are many others that have that common interest. Befriending these new people provides a new outlet for expression. A family member or friend may not like the same artist, but finding this new friend gives the ability to have someone to talk to about the subject. On the other hand, not all people surfing these sites that are looking for new friends are doing it for the right reasons. Artists and topics that attract a younger population give ample opportunity for predators to have access to the viewers. There is no way to know that the 15 year old girl you’ve become â€Å"besties† with is really a young girl, or if it’s really a pedophile looking for new prey. â€Å"In Feb. 2009, MySpace identified 90,000 registered sex offenders with profiles on the site, while Facebook declined to reveal how many were present on its site† (http://socialnetworking.procon.org/). Another example of how social networks affect society both positively and negatively is the ability to obtain information. Many networking sites created today are made for specific genres of people. Sites like LinkedIn.com and CafeMom.com have been created to help people with life issues such as finding new jobs or getting tips on breastfed babies. If a person is shy and has trouble meeting that â€Å"special someone,† they can go to a networking site such as MeetUp.com. Sadly, not everything that is posted on these sites can be verified. Most sites, like the match-making sites, have no way to verify that the person posting on their site is them. An older, obese person can post a picture of a younger, thinner person to try and get a match. The site itself does not know that the picture posted is actually the person posting it. So, when the â€Å"date† shows up expecting person A, they are angry or upset that they meet person B, the real person, and bullying, fighting, or worse occurs. Too much false information is passed along the internet, and a large percent of it is done via networking sites. Overall, social networking sites can’t wholly be praised or put down for being â€Å"bad.† Being able to stay connected, make new friends, and get information via these sites has its pros and cons. No matter what changes are made, there will always be those that say the sites are good for our society, and those that say the dangers outweigh the benefits. References: Are social networking sites good for our society? (2012). Retrieved from http://socialnetworking.procon.org/

Organ Trafficking A Dangerous Epidemic - 3410 Words

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The Leadership Styles - Reflection - 1361 Words

Leadership Styles - Reflection 1. Charismatic Leaders I d just like to start off by saying that charisma isn t always a positive thing. Some charismatic leaders do some pretty awful things. Take Jim Jones, for example - a leader of a troubled cult called the People s Temple. He used his charisma to brainwash them (really, there isn t a better word. He quite literally brainwashed them, playing his voice continually over a loudspeaker that was broadcasted around the entire town.) He leads them to believe that the government was out to get them, that the government would never accept a segregation like this one. He made them believe that the government would come and kill them eventually, that they d torture their children and†¦show more content†¦Since Trump s running for President, he also fits the criteria by factoring the people s ideas into his running. In this case, he s chosen to side with the -phobic side of the spectrum... But who am I to judge? It seems to work for him. 1ii. Authoritian Leaders A prime example of authorization leadership is Kim Jong-Un. Ruling with an iron fist, (and being known to execute those who don t support him!) the whole of North Korea fears and reveres him. Although this isn t a positive example of authoritian leadership, it s clearly shown that he runs a dictatorship and nothing less. This is shown through his aggressive punishments and surprising rewards - for example, for being drunk at his father s funeral, an assistant chief was sentenced to death. Due to these harsh punishments, the rewards seem astronomical in comparison. 1iii. Visionary Leaders Taking a break from sociopathic leaders for now, let me introduce Albert Einstein. In my personal opinion, he s more of an intellectual leader than anything, but he does fit in this category with a bit of wiggling. Einstien s known for his fundamental work in the study of space, matter, and time. Now, what makes him a visionary leader was his unwavering belief in the scientific community, despite criticism from other scientists. He was also a key figure in the development of nuclear weapons in the US, however he later decreed against

Does the use of graphic novel help Satrapi propel her...

Does the use of graphic novel help Satrapi propel her idea? Persepolis the Story of a Childhood by Marjane Satrapi’s at first impression looks like an unsophisticated comic book; however the book is much more intricate than it looks. It appears like the author Satrapi uses a graphic novel style to add to the stories and supplement profound thoughts what words probably cannot express in novels: layers of visual intuitions. However, does the use of graphic novel help Satrapi propel her idea? In the comic book it seems like she really has propelled her idea. The graphic novel is a book that tells the story about the childhood of an Iranian girl named Marji, while instantaneously attempting to display what the Iranian people are like in†¦show more content†¦Satrapi changes and uses varying clothing styles and hair length as the story develops to give a sense that Marji is growing older as the story unfolds. (3, 4) Does Satrapi’s use of visual techniques such as close-ups effectively conveyed to emphasize important message/s? Satrapi did not only tell a story for the readers to read, but she also made sure that the reader was part of the story emotionally, mentally and directly. In parts of the book Satrapi drew characters in key frames to cleverly show that the characters were looking right off the page and directly starring back at the reader, this visual technique really gives way to emphasize the message. In one occurrence were Satrapi uses this visual technique, where the characters eye in the book looks directly to the reader happens when Marji replies to her father about never forgetting who she is, and says â€Å"No. I won’t ever forget†. (5) The character seems to look at the reader producing a feeling that the reader is in actual conversation by pulling our attention

Hybrid System for Automobiles Free Essays

As you will well appreciate, the issue of hybrid automobile systems has gained increased prominence in the recent past. This is as a result of the drawbacks associated with the conventional automobile systems currently in use and the potential benefits that hybrid systems can offer. At present, our company, like many automobile manufacturers, produces vehicles that run on the conventional internal combustion engine. We will write a custom essay sample on Hybrid System for Automobiles or any similar topic only for you Order Now Since this involves the combustion of fossil-based fuels such as gasoline and diesel, it is associated with the emission of noxious gases such as carbon dioxide, carbon monoxide, nitrogen oxides and waste hydrocarbons that significantly compound the problem of global warming in addition to increasing the risk of heart, lung, respiratory and eye illnesses. Fossil fuels are also manufactured from oil, which has recently been the subject of steep price hikes that affected many motorists. Hybrid systems are not only cleaner but also incur cheaper operational costs. They would give our company an opportunity to demonstrate its social responsibility and commitment to the environment and generate positive PR spin offs for it. It would also help the firm generate more sales revenues and to maximize its profits. Towards this end, I have prepared a proposal that seeks to design, develop, and implement an automobile hybrid system to be incorporated into our vehicles. Given the time schedule, reliability, schedule visibility, clarity of technology and user requirements associated with the development of the proposed system, we propose to use a throwaway prototyping model, a type of the Systems Development Life Cycle (SDLC). The entire project is expected to take one year, and will involve experts drawn from the different functional areas of the organization as well as outside consultants. Other resource requirements will include finances to purchase raw materials and modify existing production facilities. Given the unmistakable benefits that the hybrid automobile system offers, there is no doubt that the benefits that our company will reap from its implementation will outweigh the costs by far. I will be glad to clarify or discuss with you any issues appertaining. Thank you. How to cite Hybrid System for Automobiles, Papers

Retrieved From Low Interest Personal Loans -Myassignmenthelp.com

Question: Discuss Abpout The Retrieved From Low Interest Personal Loans? Answer: Introduction My name is Harry Hunter. Am a qualified teacher who has completed a bachelors degree in teaching from Macquarie University. In addition to the bachelors degree I have gone ahead to attain a Master of teaching degree from the University of New South Wales. The above processes have equipped me with relevant skills needed to deliver quality teaching services to all the students. Currently employed as a primary school teacher in Sydney city which is in the New South Wales state. My current level is a first-year teacher which attract an annual salary of $ 67248. This translates into a gross fortnight pay of $2586.46 (SCHOOLS SALARIES AND RATES OF PAY (2017-2019), 2017). I live 3 kilometers from the school I work. To reach the school from my residential I can either use public transport which entails taxis or buses. Am a trendy person who adores fashion. On my free time I value leisure and is occasionally traveling across the state for site seeing and picnics with friends. Currently I rely primarily on public means of transport and in need of a private car. The choice of this topic was triggered by the need to gain more insight on budgeting. The use of public transport is often inconveniencing as it does not offer door to door services which I need. In addition, I travel a lot and occasionally to places that I find hard to reach using the buses. Considering that I have several expenses that need to be catered for, this topic is to help me factor in all my financial constraints. Thereafter, all come up with an economic decision that will see me ease the transport burden while at the same time managing to sustain my daily demands. How the investigation will be conducted The data that will be used on this topic will be obtained online from the websites of various relevant organizations. The websites will be both for government organizations as well as private firms. In addition, all consider the input from friends and colleagues who have models of vehicles which I may be interested in. Afterwards, all evaluate the data obtained and make a choice based on personal interest and financial constraint. Comparison of the various options Car model comparison Hyundai Accent Nissan Versa Note Has a distinctive design with a fuel-sipping engine. Has 130-hp 1.6-liter inline -four pairs with a standard perky sluggish six-speed automatic. Has a 10 year per 100000-mile powertrain warranty The car cost approximately $ 15580 Top speed is 120 mph Has a styling roomy back seat with an astronomical fuel economy. The car is weak with 1.6- liyer-fouir cylinder makes. In addition, it has a sloppy-five-speed manual. The car has a soft suspension and a grip free tires giving it a bland road behavior. The car cost approximately $ 16365 Top speed is 114mph The two models of cars were my preferred choice and from comparing their qualities Hyundai Accent offered the best qualities at an economical price. All therefore select it as the car to purchase. Moreover, I compared the rate of car insurance in 3 companies to help decide the preferable choice (Ryan, CANSTAR, 2018). Company Annual rate ($) Budget direct 1250 Ozicare Insurance 1140 Virgin Money 1250 Based on the cost of the insurance policies I selected Ozicare as my car Insurer. Project financing strategies To finance my project of purchasing a car I will need to obtain a loan from a financial institution in New South Wales. I have identified the SoFi personal loans as a favorable source of the capital. They allow borrowing of up to $ 100,000 payable in a maximum of 7 years. Their loan interest varies from 5.49% to 14.24% convertible annually. Since am compensated for my teaching job on a fortnight basis all consider the monthly payment structure.as it will be convenient for me to settle the loan amount whenever I have a surplus capital (Porter, 2018). All thereby consider taking a loan of $15580 to be paid for a period of 2 years. The interest on the loan is settled monthly while the capital is paid at the year-end. The loan term consists of interest of 6.25% which is convertible annually. Annual budgeting strategy The strategy will entail highlighting all my revenues and expenses and evaluating the surplus capital expected after venturing into the project. Calculating the tax payable Current Resident Tax Rates 2017-2018 (Exfin International Pty Ltd, 2018). $0 $18,200 Nil $18,201 $37,000 19c for each $1 over $18,200 $37,001 - $87,000 $3,572 plus 32.5c for each $1 over $37,000 $87,001 - $180,000 $19,822 plus 37c for each $1 over $87,000 $180,001 and over $54,232 plus 45c for every $1 over $180,000 My salary falls in the $37,001 - $87,000 tax bracket. So, to calculate my tax I get $3572 plus 32.5c* ($67248-$37000) = 32.5c*30248=983060c which is equivalent to $9830.6 In total my tax for the year will be $9830.6 + $3572 = $13402.6 The annual salary is $ 67248 amount payable as tax $13402.6 which leaves a net pay of $53845.4 Annual net income $ 53845.4 Expenses Home Vehicle Utilities Food Personal Others $20722 $6630 $3120 $6240 $2860 $2860 $42432 Annual savings $11413.4 Less loan capital repayment $7790 Surplus cash available $3623.4 The Budgeting Section My current expenses are mainly categorized into the home, vehicle, utilities, food, personal and others. L normally do prefer cooking at home more frequently than visiting the hotels and it is economical. Also, most of my clothes are purchased from the local shops in Sydney town as they sell at a lower cost compared to imports from Dubai. Gross Income per fortnight is $ 2586 this deduct the $ 516 payable as taxation leaves a net of $ 2070 (Australian Taxation Office, 2017). The tax per fortnight is obtained by taking the annual tax income divide by 26 (13402.6/26=516) Expenses in one month Cost ($) Total ($) Reference Home Home insurance Rent 37 760 797 (Ryan, CANSTAR, 2016) Vehicle Car insurance Gas Repairs Loan interest 44 100 70 41 255 Utilities Telephone Water Electricity Internet 30 20 25 45 120 Food Serials Hotel 150 90 240 Personal Clothing Medical 70 40 110 Others Leisure Presents 60 40 110 Total 1632 From the net income of $ 2070 if I deduct the $1632 for expenses then all be able to save $ 438 in a single fortnight. This transforms into a saving of $ 11388 per annum. Project cost The project is expected to cost $ 15580 plus the addition of (15580*0.0625*2=1947) $1947 in the form of interests. Since this amount cannot be raised from my savings per fortnight all consider borrowing and have identified the SoFi for a personal loan. The loan will be paid in a period of two years at an interest of 6.25% convertible annually. In total the project will cost $7790 of capital in the first year plus $974 as interest totaling $8764. Since the interest are paid monthly and have been budgeted in the fortnight income only the $ 7790 will be settled at the end of the year. This will leave me with surplus cash of ($ 11388 - $ 7790) =$3598 at the end of the year. Examples of mathematical processes and calculations applied during the investigation Calculation Method Working Algorithm Addition (obtaining the total cost of food expenses) Scratch 150 +90 240 First write the numbers in columns with the units such that ones are under ones and tens are under tense etc. Add the ones that is 0+0=0 write this in the ones column Then add the tens 5+9=14, write 4 in the tens column and note 1 Add the 1 to the 1 in the hundreds column 1+1=2 and write the 3 in the hundreds column Lattice 1 5 0 + 9 0 0 1 1 4 0 0 2 4 0 Subtraction (calculating the expected savings per fortnight) Scratch method 2070 -1632 438 Arrange the values in a column form with the ones in one column tens in one column etc. Solve them in the column form starting from the left. 0-2 is not possible so I obtain one from 7 in the tens column to make it 10-2 which is 8. In the tens column you have 6-3=3 In the hundreds column you have 0-6 which is not possible, so you obtain 1 from the thousands column to make it 10-6=4 In the thousands column take 1-1 to get 0 Regrouping 2070 -1632 362 t h t 0 || ,,,,,,, | . ,,,,,, ////////// . ,,, Fist I wish to take away 2 from 0 which is not possible. So, I borrow one from the tens column to make it 10. Now 10-2=8 Now I go to the tens columns I need to take away 3 from 6 which gives me 3, I then move to the hundreds column and need to remove 6 from 0 which is not possible. So, I borrow one from the thousands column to have 10-6=4 In the thousands column I have one which when I remove 1 remains with zero Multiplication (obtaining the annual savings) Standard multiplication 438 * 26 2628 876 11388 Write the number in columns such that that ones are ones, tens under tens etc Starting from the right-hand side multiply 6*8=48. Write 8 under the ones column and note 4. Now multiply 6*3=18 and add the 4 noted above 6*3=18+4=22. Write 2 under the tens column and note 2 Multiply 6*4=24 and add the 2 to give 18+2=26. Write the 23 such that 6 is under the hundreds column and 2 the thousands column. Now go to the 2 in the bottom row, multiply 2*8=16 and write the 6 under the tens column and note 1. Again, multiply the 2*3=6 and add the 1 notes above 6+1=7, write 7 under the hundreds column. Multiply the 2*4=8 write the 8 under the thousands column Now perform addition First drop 8 to the ones column. Then add 2+6=8 write 8 in the tens column Add 6+7=13 write the 03in the hundreds column and note 1 Lastly add 8+2=10 plus the one noted above to get 11 Lattice multiplication style 4 3 8 0/8 0/6 1/6 2 2/4 1/8 4/8 6 11 3 8 8 First, we set the lattice box The multiplication is 3 digits by 2, the box will be a 3*2 The next step will be to add Division (deriving the interest amount to be allocated to a fortnight income) standard 37.4 974/26 1 Ans is 37 to the nearest whole number Short division 974/26 37 26 974 78 194 182 12 Starting from the left check if 9/26 is a value greater than 1, if no check 97/26=3. 3 is the whole number obtained write it on top of 7. Then multiply 26*3=78. Subtract 97-78=19, write the 19 and drop 4 to make it 194. Now I have 194/26=7 number. Write it on top of 4 The value of the division is 37 Percentage (interest rate) Multiplication and division 974/15580*100= 6.25 Fraction (interest rate) 974/15580= 487/7790 Simplify Investigation results My research into the model of a car to purchase, the appropriate financial plan and effective budgeting to cater for this plan was a success. By visiting several car dealers and consulting the people who had a car model like the one I had interest in, I managed to gather adequate information. My informants educated me on the features and qualities to look for in a car. In addition, I managed to source for reliable car dealers who offer the best car prices on the internet. From the internet sources I also obtained information on credit institutions and was able to select a convenient source of a personal loan to assist me in funding the project. Was I to replan the project then I may shift my reliance on individual information from friends and instead focus on visiting various agents for more precise information. Difficulties encountered during the investigation and their solutions One of the major difficulty I endured during my planning was the time limit. Occasionally I had to book a meeting with company agents and consultants to source for information. Since I a dedicated school teacher I found it hard to share my work time with the planned meeting considering that the working ours tend to collide. Also, I found reliance on information from friends a bit misleading as some of the information I obtained from them ended up varying from the actual data from company agents. The difficulty was though resolved once I settled on the agency information as a budgeting basis. Lastly, prior to the investigation I had difficulties understanding the interest rates computation. This was though made clear after I obtained clarification from the financial institutions I visited. Lesson learned from the investigation From this investigation I have managed to have a grip on the art of personal budgeting. In future all have an easy time understanding my expenses hence be able to regulate unnecessary spending. Moreover, I have managed to acquire knowledge of bank loans and their interests should I need financing in future I gauze my budgeting plan will be much simpler. References Australian Taxation Office. (2017, July 1). Australian Government; Australian Taxation Office. Retrieved from Pay as you go (PAYG) withholding: https://www.ato.gov.au/uploadedFiles/Content/MEI/downloads/Fortnightly-tax-table-2017-18.pdf Exfin International Pty Ltd. (2018). exfin. Retrieved from Current Australian IncomeTax Rates - Resident and Non-Resident: https://www.exfin.com/australian-tax-rates Porter, T. (2018, January 23). Banktracker. Retrieved from The Best Low-Interest Personal Loans for 2018: https://www.mybanktracker.com/personal-loans/reviews/low-interest-personal-loans-273431 Ryan, T. ( 2018, January 11). CANSTAR. Retrieved from How Much Does Car Insurance Cost?: https://www.canstar.com.au/car-insurance/what-does-car-insurance-cost/ Ryan, T. (2016, September 16). CANSTAR. Retrieved from What is Home Contents Insurance and how much does it cost?: https://www.canstar.com.au/home-insurance/home-and-contents-insurance/a-beginners-guide-to-home-and-contents-insurance/ SCHOOLS SALARIES AND RATES OF PAY (2017-2019). (2017). Retrieved from https://www.nswtf.org.au/files/schools_-_salaries_and_rates_of_pay_2017-2019.pdf