The Age Of Transition Of The United States - 1874 Words

The Age of Transition: From Jefferson to Hamilton Although Thomas Jefferson swept the election of 1800 and witnessed the collapse of the Federalist Party in 1812, it was Alexander Hamilton’s political and economic views which proved predominant in the subsequent 19th century. The expansion of capitalism and industrialization– the development of new railroads, canals, and manufacturing factories in the North– not only contributed to the end of Thomas Jefferson’s Agrarian Yeoman era, but ultimately proved crucial to the Union’s victory during the Civil War. Nevertheless, by no means had Thomas Jefferson’s views vanished from the political landscape of the United States by 1865. The Louisiana Purchase in 1803, Indian Removal Acts in 1830, and Homestead Acts in 1862 were all early examples of Jefferson’s geopolitical vision for territorial expansion. By comparing the advancement of territorial expansion, development of a capitalist economy , and democratization of society and politics, this paper posits that although Thomas Jefferson’s geopolitical views were still present in the political landscape by the late nineteenth century, it was Hamilton’s economic and political views which were prevalent. From the beginning, the two men harbored different visions for the territorial expansion of the United States. Jefferson viewed territorial expansion as a means of providing lands for independent agrarian families, whereas Hamilton sought expansion as an opportunity to bolster theShow MoreRelatedThe United States Transition From Age Of Sail1621 Words   |  7 PagesThe United States Transition from â€Å"Age of Sail† to Steam and Steel Navy William Hunt, the secretary of the Navy in 1881, once wrote: â€Å"the conditions of the Navy imperatively demand the prompt and earnest attention of Congress. Unless some action be had in its behalf it must soon dwindle into insignificance.† Without technology advancements or change, the Navy would soon fall apart. The â€Å"Age of Sail† lasted from about the sixteenth century through the mid-nineteenth century. It was a time in whichRead MoreEssay on Population Demographics1330 Words   |  6 Pages 1.How do you suppose living conditions differ between the countries furthest along in the demographic transition compared to the country earliest in the transition? How would living conditions in these two countries affect both birth and death rates? The living condition for countries earlier in the demographic transitions such as health and food supply are improving. Thus better health conditions decrease death rates and more food supply can lead to increasingRead MoreAPHG Unit Test Answers 1172 Words   |  5 Pages1 2 out of 2 points Population geographers define demographic regions as what type of region? Selected Answer: C. formal Question 2 2 out of 2 points The low point of migration to the United States was: Selected Answer: B. 1930s Question 3 2 out of 2 points Select the one remaining country still in Stage 1. Selected Answer: D. none of the above Question 4 2 out of 2 points Read MoreThe Disabilities Of The Americans With Disabilities Act1551 Words   |  7 PagesIn America, almost one in five people live with a disability (US Census Bureau, 2015). There are 6.4 million children between the ages of 3 to 21 that are receiving special education services (National Center for Education Statistics, 2014). In Georgia, 23.4% of the population are people under the age of 21 living with a disability (Erickson Schrader, 2014). Bulloch County has a population of 71,214 and of the entire population, 16% of them are living with a disability (Cornell, 2012). Read MorePersuasive Speech : Breastfeeding Infants Essay861 Words   |  4 Pagesmotivate my audience by discussing the problems, solutions, and potential outcomes of breastfeeding infants. INTRODUCTION: Attention Step: According to the Center for Disease Control and Prevention, in 2013 in the state of Georgia, only 6.2% of infants were exclusively breastfeed by the age of 6 months. Establish Need /Relevance: Breastfeeding is beneficial to the infant, the parents, and even the environment. Breastfeeding saves babies’ lives! Establish Credibility: My son is now 10 months old, andRead MoreRapid Population Growth : A Country With The Largest Human Population1378 Words   |  6 PagesTransitions in the developing world have generally produced more rapid population growth rates in mid-transition than historically observed in the North. Two factors account for this very rapid expansion of population in these still largely traditional societies: the spread of medical technology such as immunization and antibiotics after World War II, which led to vastly rapid declines in death rates, and a lag in declines in birth rates. Nigeria is a country with the largest human population inRead MoreDemography and Demographic Transition Phase Essay1080 Words   |  5 Pages* Define demographic transition. * Describe the 4 phases of demographic transition, including if the population is stable, growing, or declining in each.  · * According to demographers, what factors lead to a decline in the crude birth rates (CBR) and crude death rates (CDR) in the epidemiologic and fertility phases of the demographic transition?  · * Briefly describe three living conditions and/or environmental impacts in developed countries that have reached phase IV, and contrastRead MoreFamily Stability within the Hispanic Culture Janiece Cantu Our Lady of the Lake1000 Words   |  4 Pagespeople that consist of two parents and their children. The word is originally from the Latin word Familia, which means household or family. Although this word is known all over the world, it can have a different context to each person. In the United States alone, family can be referred to two adults and their children, a single-parent household, extended relatives, and a structure of more than two parents. Despite how the family structure may look like within a household, it plays a major role inRead MorePersuasive Speech On Immigration1033 Words   |  5 Pages Persuasive Speech Title: Should states be required to educate the children of illegal immigrants? Speaker: Kevon Jones, Florida Agricultural and Mechanical University student Specific Purpose: To persuade and influence the beliefs of the audience concerning the educating of undocumented children. I. Introduction/Attention A. Attention getter: Since the beginning of time, The United States has been a nation of immigrants seeking freedom and better economic opportunitiesRead MoreSample Zip Code : Jeffersontown1377 Words   |  6 Pagesclose to the center of Kentucky and is located between Jefferson and Bullitt County. It has a land area of 53.10 square miles and a water area of 0.84 square miles. When compared to state averages, the 40299 community has a higher median household income and median house value, but a lower unemployment percentage and house age. A major factor contributing to the socio-economic standing of the community is that the majority of the working population has a home value of above $149,999. This tells us that

Descartes Evil Demon Argument - 1981 Words

Essay Choice 1 In the First Meditation, Descartes gives us the Evil Demon Hypothesis which serves to give him reason to doubt the existence of everything he perceives and believes. He describes a ‘malicious demon of the utmost power and cunning’ that has the sole purpose of deceiving Descartes (Descartes, 2010: 17). I will argue that his hypothesis has proven to be a strong one because only the cogito provides a way for us to frustrate or trick the evil demon. The Evil Demon Hypothesis is an important component of the Method of Doubt. Descartes used the Method of Doubt to find what is true by withholding assent from all beliefs that are dubitable. However, if Descartes was to scrutinise everything he believed, he would be left with an†¦show more content†¦Essentially the same as the Evil Demon Hypothesis is the Deceiving God Argument. Once Descartes described it, he realised that he has doubt in all of his former beliefs and as a result withheld assent from all those former beliefs (Descartes, 17:2010). However he found his ‘habitual opinions kept coming back’ and so to stop this he counterbalanced all his previous beliefs by believing them entirely false. After a while he would be able to let go of his previous convictions and ‘perceive things correctly’ (Descartes, 17:2010). It could be argued that it isn’t possible to frustrate the demon because of its omnipotence, meaning it would have unlimited power and capabilities. Descartes does credit the demon with omnipotence when saying ‘some demon of the utmost power and cunning (Descartes, 17:2010). Other scholars such as Kennington don’t believe the demon is omnipotent because in the original text Descartes didn’t call the demon quo potest omnia or omnipotens, which God was. Furthermore, in the First Meditation, the Evil Demon is mentioned only thrice (Kennington, 1971: 442), making one wonder if it was really that was being referred to. However I believe this opinion is wrong or at least not completely true. God is certainly held as omnipotent by Descartes. He described the demon as ‘some God or any other name it may be called’ and is described alongShow MoreRelatedDescartes Evil Demon Argument1996 Words   |  8 Pages 1 In the First Meditation, Descartes gives us the Evil Demon Hypothesis which serves to give him reason to doubt the existence of everything he perceives and believes. He describes a ‘malicious demon of the utmost power and cunning’ that has the sole purpose of deceiving Descartes (Descartes, 2010: 17). I will argue that his hypothesis has proven to be a strong one because only the cogito provides a way for us to frustrate or trick the evil demon. The Evil Demon Hypothesis is an important componentRead MoreThe Strengths And Weaknesses Of Descartes Dreaming Argument And Evil Demon Argument1430 Words   |  6 PagesThis essay will attempt to discuss the strengths and weaknesses of Descartes’ dreaming argument and evil demon argument. Through discussion, I will show why the evil demon argument is more plausible than the dreaming argument. The essay will give a brief definition of the two arguments and explain why these arguments are important. Then I will discuss the two arguments, considering both sides and referencing previous work by other philosophers. I will conclude with a short summary of the topics coveredRead MoreDescartes’ Cogito Argument Successfully Shows the Evil Demon Argument is Unsound888 Words   |  4 PagesDoes Descartes’ Cogito argument successfully show that the Evil Demon Argument is unsound? In this essay I will attempt to show that the philosopher, Renà ¨ Descartes’ Cogito Argument successfully proves the Evil Demon Argument to be unsound. By an analysis of the structure of the arguments and what they prove, I will show the evil demon argument to be unsound. An argument is unsound when the premises as false and the argument is invalid. This analysis of both structure and content will eventuateRead MoreEssay about Descartes First Meditation924 Words   |  4 PagesDescartes#8217; first meditation, his main objective is to present three skeptical arguments to bring doubt upon what he considers his basic beliefs. Descartes believes this to be an intricate part of his complete epistemological argument. Descartes skeptical arguments are not intended to be a denial of his basic beliefs. On the contrary, he uses these arguments to help prove one of his main theses, which is the existence of God. One of the main premises that Descartes uses in his proof forRead Mo reAn Analysis Of Descartes And The Dreaming Argument1390 Words   |  6 PagesThis essay will take a look at Descartes Dreaming argument and Evil Demon argument. As well as discussing their weaknesses and strengths to later decide which argument is the best. Despite my belief of subjective truths, the reason for doing this is to establish both arguments on an equal basis and to determine which would be best in an argument. The Dreaming argument first showed up in Descartes First Meditation, where he focusses on the task to educate himself on his own doubt. When meditatingRead MoreDescartes Dreaming Argument And The Demon Argument1112 Words   |  5 PagesIn this essay, I will explore and analyse Descartes’ dreaming argument and his evil demon argument. I will assess both arguments taking into account their validity and soundness whilst also considering the objections that one may have. In order to weigh up these arguments, it is important to understand Descartes’ reasons for formulating them: Descartes’ believes that it is important to be certain of the things that one believes to be true which, in turn, causes him to question the things that heRead MoreAnalysis Of Descartes Dreaming Argument812 Words   |  4 PagesDescartes dreaming argument suggests that perhaps our senses cannot be fully trusted because we cannot be certain we are not dreaming, and this means we therefore cannot be certain of anything. His evil demon argument is similar but uses the idea of an evil demon deceiving you instead of your senses. These sceptical arguments mean that we cannot be certain of anything at all for it may be happening whilst we are dreaming, or we are being tricked into thinking it is happening. I do not agree withRead MoreThe Dream Inside Of A Dream By Christopher Nolan1683 Words   |  7 PagesFinal Paper: Descartes The possibility of having a dream inside of a dream is an idea that has been discussed far and wide. However, before Inception came out in 2010 by director Christopher Nolan, many people in the modern world may not have ever considered this idea. Nonetheless, this idea of â€Å"a dream inside a dream† has been around since 1640, when Rene Descartes published Meditations. In Inception, Christopher Nolan uses Descartes ideas to enhance the storyline of his film. In this paperRead MoreThe Dreaming Argument And The Evil Demon Argument1271 Words   |  6 PagesDescartes organised his ideas on knowledge and skepticism to establish two main arguments, the dreaming argument and the evil demon argument. The dreaming argument suggests that it is not possible to distinguish between having a waking experience and dreaming an experience. Whereas, the evil demon argument suggests that we are deceived in all areas of our experiences by an evil demon. This essay will investigate the valid ity of the arguments and to what extent the conclusion of these arguments isRead MoreThe Mind Argument And The Evil Demon Argument1218 Words   |  5 PagesRenÃ'  Descartes is known to be the â€Å"founder of modern philosophy† aswell as a man who was superior in the scientific revolution. As a catholic and a man of science he wanted to show how the scientific world had space for God and freedom which hence led to the Mediditions published in 1641. In the first meditation Descartes introduces the idea that in order for him to establish anything in the sciences which is â€Å"stable and likely to last† he must build truths of which he can be certain. In order to

Contemporary Issues In Accounting Concerns-Myassignmenthelp.Com

Question: What is the Contemporary Issues In Accounting Concerns? Answer: Introduction The framework of present-day accounting lays down the procedures for preparaing and presenting the financial statements and basics of accounting presentation to give true and fair view to the external users of the financial statements. The users require information about the companys recent factual status for mainly two purposes namely if it will be profitable and viable to invest in the companys resources and they would be earning the profits and secondly, whether the enterprise has got the cash flow generating ability (Dichev, I.D., 2017) In the long run, there may be different purposes of general purpose accounting and financial regulation but its should have faithful representation i.e., free from error, neutral and complete such that it is easily understandable, comparable and verifiable. The Framework for financial reporting basically describes 5 basic elements explained below. (Cohen, J., Krishnamoorthy, G. and Wright, A., 2017) An asset is a company controlled resource due to its past efforts, which will help to earn future economic benefits. A liability is an obligation to pay the resources of the company due to its past deeds and this results in the outflow of the resources. Equity is generally the residual portion left after settling off all the liabilities from the assets. This generally includes the equity shares, reserves, etc and belongs to the owers of the company. (Mitchell, F., Nrreklit, H. and Nrreklit, L., 2017.) Income or revenue is defined as the increament in the economic benefits of the company over a period leaving apart the increase in equity portion by the owners through infusion of the funds. This is categorised between comprehensive and other comprehensive income heads. Expenses on the other hand are increase the economic losses or decrease in the economic benefits due of outflow of resources and incurring of liabilities. (Li, S., Sougiannis, T. and Wang, I., 2017.) Thre is a long dated back history for inclusion of prudence in the financial framework, there have been several rounds of debates amonst expects that whether of not it should be included in financial presentation framework as it has had impacts of under realisation of gains, booking of extra losses and provisons resulting in wrong picture to the users of financial statements. To put a full stop to all this discussion, IFRS stated for it sinclusion in 2010 (Spalding, A.D. and Lawrie, G.R., 2017) Now, the question arises what actually is Prudence and what is the limit of its application and whether or not estimation should be applied. So Prudence is the application of caution which prepration of accounts such that provionsa are made for the future decided losses and profit is not booked until it is sure to be recognised such that the robust recognition of revenue is done. Thsis has both the sides depending upon its application i.e., good and bad. (Marabel-Romo, J., Guiral, A., Crespo-Espert, J.L., Gonzalo, J.A. and Moon, D., 2017.) The whole idea behind judging of prudence limit is to record and measure the assets, liabilities, incomes and expenses on the linearity basis i.e., figures pertaining to current financial year should be recorded in the next or previous finanicial year. It is something which cannot be guided by the Standards but a relatie level of estimation is reqd. to give the financials a pure view without errors and adjustments. Example like internally generated intangibles recognition in the books are being prevented in the IFRS. Also, there is a separate piece of discussion on what items of PL should be shown in OCI what should be reinstated as a part of the PL. As per discussion paper of IASB, several items should to be recognised at historical cost as this displays an element of prudence in the values stated as well as profit recognition timing. Besides this, prudence in cash-flow-based measurement or fair value is not accommodating. This is where it becomes difficult to contradict the fights that prudence has leadto unquantified biasnessin accounting. Analytical view of the 2 companies selected QANTAS Airline (Australia) Founded in 1920, Qantas, abbreviation for Queensland and Northern Territory Aerial Services is Australias largest brand of airline, is the worldsthird oldest and has built a reputation in safety, customer experience and operational excellence.Its headquarters are in Sydney, New South Wales. The combined revenue of the business for the previous financial year was nearly $ 16.2 billion and the consolidated net profit amounted to $ 1,029 million. (Wang, W.K., Lin, F., Ting, I.W.K., Kweh, Q.L., Lu, W.M. and Chiu, T.Y., 2017.) As mentioned clearly in the financials, the company has prepared its consolidated financial statements has followed Australian Accounting Standardsand the Corporations Regulation, 2001in its accounting framework.Basic principles of accounting have been applied together with the use of reasonable judgements and the application of prudence in preparation of summary statements. The same has been mentionedin the directors declaration in the companys annual report. (Bourjade, S., Huc, R. and Muller-Vibes, C., 2017.) All the material departures, the basis of provisions and other accounting assumptions have been cleary disclosed in the Notes to Accounts and explanatory notes.The present data poinshave been delivered in a manner that all the primaryessentials like materiality, timelessness and relevance are abided with taking into account the auditors judgement. The facts in accounting statements have been reflectedin such a method that they are easily comparable, are reliable, understandable and relevant. Moreover, appropriateness of the accounting policies and the accounting estimates reasonableness has been checked. The statement of financial affairs has been prepared considering the entties to be going concern and utmost precaution has been extended such that all the sufficient necessary information is being delivered to the companys auditors so that they are capable to express their comments and opinion. The same is justified from the Independent auditors report. Some major highlights include inclusion of GST, derivative accounting, revenue recognition at fair value of the consideration received, review of the financial and non financial assets for impairment, recognition of PPE at fair value, depreciation on straight line basis, provision being taken for the onerous contracts, etc (Douglas, I. and Tan, D., 2017.) Air New Zealand (NZ) Founded in 1940, it is the largest passenger carrier in New Zealand having 21 domestic and 31 international destination across the world. It has its headquartersat Auckland city, NZ. It was awarded airline of the year in 2010 and 2012 and is rated as one of the safest airline in the world. The aggregatedrevenue of the company for the previous financial year was around $ 4.48 billionand the net profit was $ 463 million. (Bourjade, S., Huc, R. and Muller-Vibes, C., 2017.) As per the Directors Statement Independent Auditors Report attached below, the financials adhere with the generally accepted accounting principles and are reflecting unbiased view of the accounts. In addition, the financials have been prepared using reasonable judgements and reliable estimates and that all the IFRS New Zealand IFRS has been followed consistently. Besides that, requirements of Financial Markets Conduct Code, 2013 has been adhered too. The company here also states that it has followed and considered internal control procedures in the financial statements in order to give its users reasonable assurance about the integrity and reliability. (Saha, A. and Bose, S., 2017.) The auditors here have also taken care of Internal Standards on Auditing (New Zealand) which means this financial statement report gives the assurance to the external users like banks financial institutions for transactions with the company. In addition, the auditors have chosen the quantitative materiality for the Group financial statements to be $30M, which gives a pristine view of what is material and what not. (Yeoman, I.S., Yeoman, I.S., McMahon-Beattie, U. and McMahon-Beattie, U., 2017.) In the notes to accounting, the significant accounting policies used with respect to IFRS 9, 15, 16 has been disclosed. The total amount of assets and liabilities that are reported, are often affected by the estimates of the management. These estimates often lead to fluctuations, because of which there is a difference in the estimated and the actual results. All the consolidation has been done using the method of equity. The concept of prudence and its application is not been mentioned by the company in its reports. However, mentioning the same is not important. The thing that matters is that the perpetrators of the financial statements apply these principles, along with ascertaining effective diligence in the accounting framework of the company. In addition, this company has given separate disclosure for partial divestment in Virgin Australia. (Weatherford, L.R., 2017.) Assessment of the annual reports of the two companies and their respective methods of preparation The two given companies operate in the same sector of the indystry.Qantas is the Australia is largest while Air NZ is a giant in NZ. For the preparation of their financial statements, both the companies are following different procedure and methods. While Qantas is following the Australian Accounting Standards and the Corporations Regulation, 2001 of conceptual framework, the Air NZ is following the principles of IFRS NZ IFRS. consolidated reports are prepared by both the companies exclusively, however, in case of Qantas any kind of discrepancies is the group companies is shown exclusively and is mentioned in the notes to account, where in case of Air NZ no such disclosure regarding materiality is given. In case of Air NZ detailed notes to accounts are given, while in case of Qantas, significant policies of accounting are presented in a detailed manner Recommendation After analysis of the given companies, it can be said that the base aim is preparation of the financial statements by the management of both the selected companies which is relevant for the stakeholders. Both the companies are following the commonly accepted IFRS principles for maintaining their books of account. The point that prudence as a concept should be included or not is a very debatable topic. It is important that proper judgement is applied while preparing the financial statements, excess of prudence is bad. But it cannot be ignored completely. Conclusion After the entire analysis, I have reached conclusion that no matter what method an organisation is applying. It is important that the analysis be such that it satisfies the needs of the users. The given companies have very well followed their chosen policies and analysis and comparison of the two has been done. It is clearly seen that the annual reports are made with utmost diligence and the makers have done applied their share of diligence in the same. All the necessary requirements are covered and the needs of the user have been satisfied. References Bourjade, S., Huc, R. and Muller-Vibes, C., 2017. Leasing and profitability: Empirical evidence from the airline industry. Transportation Research Part A: Policy and Practice, 97, pp.30-46 Cohen, J., Krishnamoorthy, G. and Wright, A., 2017. Enterprise risk management and the financial reporting process: The experiences of audit committee members, CFOs, and external auditors. Contemporary Accounting Research, 34(2), pp.1178-1209. Dichev, I.D., 2017. On the conceptual foundations of financial reporting. Accounting and Business Research, pp.1-16 Douglas, I. and Tan, D., 2017. Global airline alliances and profitability: A difference-in-difference analysis. Transportation Research Part A: Policy and Practice, 103, pp.432-443. Li, S., Sougiannis, T. and Wang, I., 2017. Mandatory IFRS Adoption and the Usefulness of Accounting Information in Predicting Future Earnings and Cash Flows, pp.1-47 Marabel-Romo, J., Guiral, A., Crespo-Espert, J.L., Gonzalo, J.A. and Moon, D., 2017. Fair value accounting in the absence of prudence in accounting standards: an illustration with exotic derivatives. Spanish Journal of Finance and Accounting/Revista Espaola de Financiacin y Contabilidad, 46(2), pp.145-167. Mitchell, F., Nrreklit, H. and Nrreklit, L., 2017. 6VVThe Validity of Financial Statement Measurement. A Philosophy of Management Accounting: A Pragmatic Constructivist Approach,1-6. Saha, A. and Bose, S., 2017. The Value Relevance of Financial and Non-Financial Information: Evidence from Recent Academic Literature, pp.1-29 Spalding, A.D. and Lawrie, G.R., 2017. A Critical Examination of the AICPAs New Conceptual Framework Ethics Protocol. Journal of Business Ethics, pp.1-18. Wang, W.K., Lin, F., Ting, I.W.K., Kweh, Q.L., Lu, W.M. and Chiu, T.Y., 2017. Does asset-light strategy contribute to the dynamic efficiency of global airlines?. Journal of Air Transport Management, 62, pp.99-108 Weatherford, L.R., 2017. Intelligent aggressiveness: Using forecast multipliers, hybrid forecasting, fare adjustment, and unconstraining methods to increase revenue. Decision Sciences, 48(3), pp.391-419. Yeoman, I.S., Yeoman, I.S., McMahon-Beattie, U. and McMahon-Beattie, U., 2017. The turning points of revenue management: a brief history of future evolution. Journal of Tourism Futures, 3(1), pp.66-72.

Project Procurement and Contract Management

Question: Discuss about theProject Procurement and Contract Management. Answer: Introduction Procurement management plan is built under various strategies that have also help contributing to the value for money outcomes. Procurement strategy is a long range plans set to ensure supply of goods and services critical to organizations ability that ensures it meet objective of its core business. The strategies includes: using performance specifications, ensuring risk allocations between parties are optimized, encouraging a great innovation, setting contract periods which are appropriate, rewarding the best performers through use of incentives and adopting the most appropriate procurement strategy for the procurement project. Departments should therefore select and adopt strategies that can achieve value for money which in turn ensures accountability and profitability. Procurement Strategies Some of the common procurement strategies developed to satisfy different project procurement objectives and limitations associated with the supply of the intended goods and services to the project includes: leverage technology, improvement in technology have been identified to give business people a humble time where communication is improved and made more fast, there is also easy integrations of operations, faster machine and devise operations and widening connections allowing business task to be more fast, effective and efficient. Right technology is seen to have positive influence on all set business strategy like, logistic integration, strategic purchasing and business performance. Examples of technology that assists in easy planning of procurement operations or strategy planning are, management software, warehouse management system, and supplier management system and supply chain management software. Another critical procurement strategy is outsourcing of the procurement needs. Recently, the nature of business operations have been very hectic sometimes being unable to complete the given duty in time agreed, in this scenario, an individual will consider outsourcing the task to specialist so that they can meet their customers needs without delays and in the long run saving the company money that leads to a greater savings. Another procurement strategy is to organize with others to increase buying power. Small businesses which have embraced the use of technology fully, has improved processes of procurement operations and have strong strategic partnership with suppliers still stands in a great risk of falling in less purchasing savings due to their small size. Therefore, the small firms should set a strategy of organizing with other to maximize their sales. (Sollish, Semanik, 2013) Improve internal procurement process is another procurement strategy that firms should formulate. Firms should seek internal changes in all their processes of procurement in addition to improvements in technology and relationship between suppliers. Evaluating suppliers with systems which are standardized, their performance will be easy to track especially for small businesses and making the whole process efficient. In addition, another procurement strategy is to build and maintain strategic partnerships. This strategy helps create a strong relationship with suppliers both direct and indirect and in the end resulting to more benefits to the firm. Firm should therefore seek and maintain strategic partnerships that are long-lasting with key suppliers. The objectives, processes and expected outcomes associated with each procurement strategy discussed above includes; For the leverage technology, the main objective is to improve procurement operations according to the changing technology and the expected outcome is an effective business operations. The second strategy which is organize with others to increase buying power, its objective is to increase on sales and maximize on profit, the outcome of the strategy will be expand in sales and increase in profit. Third is the outsourcing of procurement needs, its objective is to ensure better service to customers and meeting the consumers needs. The outcome will be positive feedback from consumers which will eventually build a good reputation for the firm. Lastly, is the strategy of building and maintain strategic partnership. Its objective is to create a strong supplier relationship and the outcome will be maintaining a good number of suppliers for consistent supplies. (Sollish, Semanik , 2013) Factors Influencing Procurement Strategies Selection Before selecting the Procurement strategy for any project, its important to identify the factors which will determine the most suitable procurement strategy. Some of the factors that influence formulation of procurement strategy include: the legal factors which mostly influence compliance to implemented policy to guide and ensure compliance to any set laws and rules in accordance to business operation carried out some laws that procurement strategy formed should comply with includes: consumer protection law which ensures supply of the right requested goods and services by consumers, second is discrimination law that protects consumers against discrimination when supplied with goods and services. To add to that, anti-trust law also influence formulation and execution of procurement strategy. (Baily, Farmer, Crocker, Jessop, Jones, 2010) In case of risk arising during delivery of procurement projects, the law helps to ensure how those risks will be dealt with. The other factor influencing the formulation of procurement strategy is political factor, the state of the government in terms of its stability, tax policy of the country, import quality and quantity restrictions and consumer protection are the main political factors that influence the plans on how the supply of goods and services should be formulated. Economic factors influences formulation and execution of procurement strategy through fluctuation and level of growth rate, inflation rate, interest rates, price fluctuation which greatly affect the long range plans on supply of goods and services, the stock market trends and monetary policies. In addition social cultural factors also influence the formulation of the procurement strategy in terms of buying habits of the customers that provide an ability to arrange well on the plans of supplying goods and services according to buying habit of the customers. Secondly, the population growth rate also influence procurement strategy formulation whereby it helps determine the population of a country and how it grows so that a firm plans well on how to supply goods and services according to population growth rate changes. (Chick, Handfield, 2011) Age distribution and life expectancy rates are also another social factor that influences procurement strategy formulation. Different age range should be supplied with different type and quantity of goods and services depending on their tastes and preferences. In the case of life expectancy, individuals with short life expectancy that is mostly the old are to be supplied with goods and services in a different way compared to young individuals with a long life expectancy. Social classes also matters, if the customers targeted are of high class, the strategy formulated should focus on supplying of high class expensive goods and services unlike if the customer is of low or middle class, the plan in this case should focus on supply of medium class goods and services. Technical factors also influence the formulation and execution of procurement strategy. The access to new technology is the major factor that influences the plan of supply of goods and services since the world is moving to digital way of carrying out operations by use of the internet. Nowadays most supply of goods and services are done online and this has resulted in most effective and efficient procurement operations. (Chick, Handfield, 2015) The formulation of procurement strategy is also influenced by the environmental factors like the weather, climate change, waste management, attitudes towards green product, and attitudes towards support for renewable energy, laws regulating environment pollution and recycling. All these factors helps a firm determine the plans to make for supply of goods and services in compliance to all the environmental factors. A Procurement Strategy Decision Support Tool From the analysis of completed task 1 and 2 the decision support tool developed that identifies the most effective generic procurement strategy for a good or service given is to emphasis more on all factors related with strategic procurement plan and ensure objectives are set to have efficient and effective operations. Some strategies create limitations like the company not complying so well with the strategies formulated due to lack of clearly analyzing and defining its strategies. Despite the limitations, some opportunities are created by the formulated strategies including, access to new technology and expanding in business operations as well as creation of good relationships with suppliers. (Sollish, Semanik, 2013) Scenarios That Demonstrates the Effectiveness of Decision Support Tool The factors discussed above can be used to evaluate the most likely procurement strategy for a range of goods and services in number of different project procurement scenarios. The scenarios include: Scenario 1; procuring services of an engineering and construction firm to oversee the design and construction of a new warehousing and logistics facility in a regional location, the most appropriate factor to evaluate procurement strategy in this scenario is demographic factors that will determine the best location to choose for constructing the warehouse. Scenario 2; Procuring a range of commonly-available Personal Protective Equipment (PPE) to support operations during the construction and commissioning phase of a new industrial facility. In this scenario the appropriate factor is legal factor which when engaged in formulation of strategies in supplying this type of products, it will ensure consumers are protected and covered against any risks. (Turner, 2012) Scenario 3; procuring a new MRI scanner for a remote regional hospital upgrade project on behalf of a state government, technological and legal factors should be considered in this type of business. First, technological factors come in to ensure the new scanners have the latest features and operate well to ensure efficient and effective results. Assumptions made from the scenarios are; for scenario one I assume that the firms want to expand the procuring of its services and so it needs to choose the most appropriate strategy to make this a success and be able to outsmart its competitors. In the second scenario, I assume that the firm has focused in ensuring they comply with the law of protecting employees and their consumers, it should therefore enforce a strategy that ensures maximum compliance to the laws. In scenario three, I assume the firm is introducing new hospital equipment to remote hospitals, it should therefore focus on enforcing strategies that will enable it embrace fast the rapid changing technology and provide technology based resources. In addition, I was able to arrive at the above mentioned procurement strategies after rating the firms objectives, the products it is willing to procure, and the location where the firm want to place their warehouse and the response to changes in technology. (Turner, 2012) Summary Various important factors that can be influential in procurement planning and strategy development as discussed in assessment 1 above influences procurement planning and strategy requirements in different contexts and in different ways. The technical factors influence effective operations; the legal factors influence compliance to all business policy operations, rules and laws while the environmental and demographic factors influence the location to situate the business and the environmental friendly products to focus on. The social cultural factors influence the types of products to produce in terms of customers preferences, taste and attitudes. References Baily, P., Farmer, D., Crocker, B., Jessop, D., Jones, D. Procurement principles and management. Bower, D. (2010). Management of procurement. London: Thomas Telford. Chick, G., Handfield, R. The procurement value proposition. Edwards, T., Scholtz, A. Supplier category management. Eglin, I. Procurement management. McAfee, R. Improving Federal Procurement: The Benefits of Vendor-Neutral Contract Specifications. SSRN Electronic Journal. https://dx.doi.org/10.2139/ssrn.882509 Sabri, E., Gupta, A., Beitler, M. (2007). Purchase order management best practices. Ft. Lauderdale, Fla.: J. Ross Pub. Sollish, F., Semanik, J. (2013). The procurement and supply manager's desk reference. Hoboken, N.J.: Wiley. Turner, R. (2012). Supply management and procurement. Boca Raton, Fla.: J. Ross.