Running

An Errand Running Business is providing unique solution services to busy Individuals and organizations. It reclaims the clients’ time for more important things and taking care of the mundane tasks. The service Is fast, efficient and completely reliable. We are providing our services to both Individuals and organizations. For organization side, the errand running business could free their staffs from distractive personal tasks. Which enhancing productivity, reducing absence and Its related costs, Improve Taft engagement, maintain the competitive edge and attract and retain the best hands. The personal service is including dry-cleaning pick-up and delivery: queuing for events and exhibition tickets; errands for private parties and events; shopping and delivery errands for international clients; delivery sensitive documents, like passports and certificates; items repairs, returns and exchanges, hospital and care home errands and so on.

We have fliers and brochures detailing our errand running services. Use the fliers for existential customers and brochures for organizations and we also provide a free trial for the companies who interested in our service. We provide a quotation for each errand and ensure the customers understand and agree to errand costs before we start with their requests. A recent CAB survey found that time spent dealing with personal tasks is a major cause of absence in UK companies. In fact, unplanned staff absence, including days off sick, cost the UK economy EYE billion In 2011.

We aim to close this gap by running al kinds of errands in and around Birmingham to relieve the pressure on the capital’s workforce. The risk of running errand service comes from many aspects Like transport management, schedule arrangement, customer satisfaction and the most Important plagiarism and competitive from competitors. The challenges we faced one Including the balance between the service quality and the cost, attracting potential clients and communicate our service to others Vela advertising and hiring the reliable employees to accomplish the work.

By entertainer An Errand Running Business is providing unique solution services to busy individuals care of the mundane tasks. The service is fast, efficient and completely reliable. We are providing our services to both individuals and organizations. For organization tasks, which enhancing productivity, reducing absence and its related costs, improve hands. The personal service is including dry-cleaning pick-up and delivery; queuing We have fliers and brochures detailing our errand running services. Use the fliers for cause of absence in I-J companies.

This article was originally published on February 21, 2014.

is Entrepreneur’s Q&A interview column that puts the spotlight on franchisees. This week, we’re celebrating individuals who worked their way up in the industry from hourly workers to franchise owners. If you’re a franchisee with advice and tips to share, email .

Dulce Luevano has been working hard for a very long time to become the franchisee she is today. She was only 14 when she began working at a chicken and quail farm with her parents during the summer. When she was 16, she began working at CiCi’s Pizza, making the minimum wage of $5.15 per hour. Her first year of college, Luevano dropped out of school after her mother fell ill, working at CiCi’s to pay the medical bills. Now 28, Luevano has pushed herself to the limit to open her own CiCi’s, which opened up shop last year. Here’s what Leuvano has learned about how hard work can pay off in the franchising industry.

Name: Dulce Luevano

Franchise owned (location): CiCi’s Pizza in Albemarle, N.C.

How long you have owned the franchise:  

One year.

Q: Why franchising?

I have always dreamed of owning a business. Franchising provides peace of mind and takes some of the risk out of business ownership. The CiCi’s support team is always there to help find ways to build sales and manage costs, which ultimately helps to boost the bottom line. I also recognized the advantages of franchising with a nationally recognized brand; CiCi’s national advertising campaigns ensure that we stay top-of-mind for guests.

Q: What were you doing before you became a franchise owner?

My first job was working with my parents at a chicken and quail farm. After two summers, I knew it was time to find a new job. I was 16 years old when I was first hired at CiCi’s Pizza of Albemarle, N.C.

When I graduated from high school, I could not afford to attend college so I worked toward a promotion to assistant manager to help pay for my education. While in my first year of college, my mother fell ill and I had to drop out of school to help my family pay the medical bills. I continued working at CiCi’s and was promoted to general manager at the age of 18, a position I held for nine years until purchasing my own location.

Q: Why did you choose this particular franchise?

When I first started working at CiCi’s, I loved how encouraging and motivational the managers were. Their intense energy and excitement made every day a success. That’s when I said, “This is it for me.” God put me here because I need to be a part of this. I loved the way that the staff and the guests are treated like family. I believe it’s the relationships we build that allow us to build our sales year after year.

Q: How much would you estimate you spent before you were officially open for business?

The typical investment for a new CiCi’s location is approximately $370,500 – $625,000, inclusive of tenant allowance and based on geography. However, since I took over an existing location, my investment (about $30,000-35,000) was much different than a ground-up project.

Costs included: lawyer fees ($10,000), rent deposit ($10,000), inventory ($4,500), gas-water-electric ($2,500), insurance ($1,500), and bank fees ($5,000).

Q: Where did you get most of your advice/do most of your research?

Most of my advice came from within the CiCi’s franchise system. I consulted with my Brand Excellence manager, Robert Smith, throughout the process. Robert truly paved the way for me, introducing me to the right people, starting the franchisee certification process and offered support through every step.

I also spent a lot of time discussing this decision with my friends and family. Being a franchise owner is not a normal 9 to 5 job, so I needed to make sure I had support from those close to me.

I continue to seek advice from colleagues and the franchise support team so I can continue to grow my business and as a franchise owner.

Q: What were the most unexpected challenges of opening your franchise?

Since I was with the company so long prior to ownership, there were few surprises throughout the process. I worked closely with the support team at the corporate office and was prepared for each step.

The most challenging step for me was trying to get a small business loan from the bank. In 2005, a local franchise owner chose to sell CiCi’s Pizza of Albemarle, the location where I got my start. It was one of four locations he owned. He made an offer to me, but at the age of 20, I lacked the adequate equity and credit score to become a small business owner. To build credit, I purchased houses that I rented out while I continued to work at CiCi’s. About five years after the initial offer, I was presented with another opportunity to purchase CiCi’s of Albemarle, and this time around I was ready.

Q: What advice do you have for individuals who want to own their own franchise?

Make sure you are passionate about the industry you are going into and you are willing to dedicate 110 percent of yourself to this business.

Also, make sure you understand and agree with all of the franchisor’s rules and regulations. After all, following the franchisor’s guidelines and business model is what helps you be successful.

Q: What’s next for you and your business?

I love every minute of being a franchise owner and hope to grow within the system to become a multi-unit owner. I plan to buy a second location in about two years.

Event Paper: Hurdling In track and field, the three main types of event include: running, throwing and jumping. According to britannica. com, hurdling is defined as “A sport in athletics (track and field) in which a runner races over a series of obstacles called hurdles, which are set a fixed distance apart. ” Throughout the race, runners are required to stay within their assigned lane. They are allowed to knock down hurdles while running, but a runner who trails a foot or leg alongside a hurdle or knocks it down with a hand is disqualified.

Hurdling, which combines running and jumping, is fairly new in comparison to the other track and field events. However, hurdling contains an impressive and interesting history and continues to be one of the most popular events at the Olympics. It was not until the first modern Olympic Games in 1896 when hurdles were introduced to the world. The original Olympics began long before in Greece, however, Roman Emperor Theodosius I had banned the Games 1,500 years earlier as an attempt to abolish what he thought were pagan practices.

The modern Olympics arose in Athens and presented hurdling events, thanks to the French baron, Pierre de Coubertin, who than became the first International Olympic Committee president. The Games initially began with 110-meter hurdles and in 1900 introduced the 400-meter hurdles. When the sport was first introduced, hurdling was completed by simply jumping over the hurdles. American Alvin Kraenslein, however, changed this and introduced a new striding technique for overcoming the hurdles in 1900. This technique incorporated straightening the front leg while tucking the back leg underneath the body.

After winning both the 110- and 200-meter hurdle events, Kraenzlein’s technique became the standard for hurdling and still is practiced today. After its introduction, hurdling was mainly recognized as an event for men only. In 1926, this changed with the introduction of the Olympic 80-meter hurdle events for women. With the success of women such as Babe Didrikson exceeding, the participation and recognition of women in hurdling increased. Furthermore, as of 2011, women compete in the same hurdling events as men, including the 400-meter hurdles.

In hurdling events, there are sprint hurdle races and long hurdle races. The most common sprint hurdles is 110 meters for men and 100 meters for women. As mentioned, the standard long hurdle race is 400 meters for both men and women. There are also other distances that are run indoors which are usually 60 meters or less for both men and women. In sum, there are different specific techniques for each hurdle race. While the high hurdles races are sprints, they are also technical events. The ultimate goal for all hurdlers is do as little hurdling, and as much as running, as possible.

This means participants must sprint, clear the hurdles, then proceed sprinting as quickly as possible. The key is to preserve momentum while clearing all ten hurdles, maintaining one’s center of gravity as close to standard sprinting position as possible. As with the other sprint races, high hurdles participants being in starting blocks. However, unlike a straight spring, sprint hurdlers most transfer into an upright position rather quickly. Sprint hurdlers retain their speed leading up to each hurdle, but they also shorten the last step before their lead leg rises to clear the hurdle.

This provokes the plant foot under the hips and allows the hurdler to shift their upper body weight forward. It is also vital to remember appropriate arm technique. The arm on the opposite side of the lead leg pushes forward and literally directs the runner toward the hurdle. As the lead leg’s knee drives to the hurdle, the lower leg extends forward until the foot approaches the hurdle’s height. As the body leans forward, the lead knee continues slight bent as the hurdler proceeds forward. As soon as the lead leg’s heel clears the hurdle, it is important immediately bring that foot down.

Than the contestant must pull his or her trail leg over the hurdle quickly and prepare to resume sprinting. Senior-level hurdlers usually take three strides between hurdles but it can vary. In sum, it is important to never slow down and to utilize the arms, which will help the hurdler to maintain good balance. Both men and women have set astonishing records in completing the event of hurdling. The 110-meter hurdles for men, 12. 8 seconds is the fastest that has ever been ran and Aries Merritt from the USA holds that record. However, one other significant hurdler is Liu Xiang who was the first person to run under 12. seconds. Also, Allen Johnson from USA is the only four-time world champion. The fastest time ran for the women’s 100-meter hurdles is 12. 21 by Yordanka Donkova in 1988. Two other successful athletes that are the only 100 meters hurdlers to have become both Olympic Champion and World Champion are Sally Pearson from Austria and Ludmila Narozhilenko-Engquist from Sweden. As the Olympic Games continue, team USA remains to dominate the men’s 110-meter hurdles however, for the women’s 100-meter hurdles, athletes from Bulgaria and Germany dominate the event.

The 400 meters hurdles is also an Olympic event in track and field. Runners stay in their lanes the entire way after starting out of the blocks and must clear ten hurdles that are evenly spaced around the track. The 400 meters hurdle race requires speed, endurance, and hurdling technique along with distinctive awareness and particular concentration throughout the race. The current men’s and women’s world record holders are Kevin Young with 46. 78 seconds and Yuliya Pechonkina with 52. 34 seconds. There are common physical characteristics and traits among hurdlers.

Many hurdlers are considered strong and have a good amount of muscle. This is important in having a good, solid landing as well as having an aggressive start. Also good flexibility and coordination (i. e. hip mobility) is vital. During the hurdling process one of your legs does extend to the side in which this trait comes to play. Furthermore, a hurdler must run the 100 meters well since the ultimate objective of hurdling is to sprint the event as much as possible. Finally having a tall stature can be an advantage due to having shorter strides and achieving greater horizontal distance over the hurdle.

All in all, a successful hurdler contains most or all of these physical characteristics. Hurdling can now been seen at almost all levels, beginning with middle school student track and field teams, and continuing through high school and college to the Olympics. It is important to understand that hurdling involves persistent training and with that strong work ethic. As Kevin Young said, “The key thing in the hurdles is that it’s a development event. You might not do a damn thing one year, and then things just click. You really can’t discount athletes who may not stand out immediately.

It may take two or three years for an athlete to develop. ” References Hurdling. (2012). In Encyclop? dia Britannica. Retrieved from http://www. britannica. com/EBchecked/topic/277252/hurdling Rosenbaum, Mike. (2010). Sprint hurdles technique. Retrieved Dec. 18, 2012, from About. com database. Sherwod, Chris. (2011, Jul 14). History of hurdling. Retrieved Dec. 18, 2012, from Livestrong. com database. Slingo, Mark. (2008). History of hurdling. Retrieved Dec. 18, 2012, from ehow. com database. Sports Coach, BrianMac. (2012, Oct 17). Spring hurdles. Retrieved Dec. 18, 2012 from Brianmac. co database.

Netflix is so popular that it now accounts for .  

It should come as no surprise that . But oddly enough, he never saw himself as an entrepreneur when he was younger.  — a marine, a Peace Corps volunteer, a teacher in Swaziland, even a developer of artificial intelligence — all of which he did.

Yet Reed managed to grow the 1997 DVD delivery rental company into the $32.9 billion giant it is today, .

History and work aside, what is this man about? What are his passions, his hobbies and his interests? Here are five things about the life of Reed Hastings outside of Netflix that you might not have known. He:

1. Changes the way our children learn.

Hastings recently made the announcement that he was creating a . The statement on the reads “Currently, too many children do not have access to amazing schools. Our aim is to partner with communities to significantly increase the number of students who have access to rich and holistic educational experiences.”

Related:

His goal is to create technologically driven charter schools,  — rather than just a one-off class twice a week, for example. Hastings believes education is about preparation, and he wants our children ready for this tech-filled world.   

2. Maintains a work-life balance.

. Hastings doubles that. Taking six weeks of vacation a year, he makes a concerted effort to get away for from work for the sake of his physical and mental health. . 

This isn’t one man’s wishful thinking. Psychologists are strong proponents of taking more vacation time, .

Related:

3. Fails as a Renaissance man.

While entire articles are devoted to the , Hastings defies the trend by being pretty vanilla. In a recent article published in The New Yorker, . “I don’t sail, I don’t fish. I’m a pitiful failure as a Renaissance man.”

While this may seem odd in the west, Hastings is actually , or an intense focus to one’s work or passion. Perhaps his clear-minded concentration is what made Netflix the giant it is today.

4. Raises Nigerian dwarf goats.

Hastings, along with wife Patty Quillin and two kids, are animal lovers. Their house in Santa Cruz has no shortage of pets. Among them are five chickens, four shelter dogs and .

If you’ve never seen these bizarre-looking creatures, and produce a high concentration of butterfat in their milk — making them ideal for cheese production.

5. Enjoys a night of “Netflix and chill.”

In a recent interview with Stephen Colbert, Hastings was . Although Hastings was a bit tight-lipped, Colbert eventually got him to concede that he does, in fact, love it. “Whenever I can,” Hastings said.

Related:

It kind of makes sense, and perhaps that’s the secret to his success. Hastings has created a business that mirrors his lifestyle. It’s laid back and unpretentious. It’s educational and affordable to the masses. And it’s great for people with no real hobbies.

How can you not build an empire when your business is so in sync with who you are? Good advice for the rest of us — when you build a business, make it something you can believe in. And don’t forget to take a little down time, too.

Introduction

In this essay I am going to discuss and explain about the main accounting principles and also explain how they affect the running of the business. Accounting is generally concerned with calculating the profit and loss in a business and how the business is performing financially. In order to do this an accountant must collect analyzing and communicating financial information. The information is then used by the owners of the business and they see where action and decisions need to be made fast and also work out how much they are making and what they are losing and who owes them money and were debt needs to be paid. Accounting is also necessary for stakeholders to make decisions regarding the business and changes to the business as a whole if necessary.

In any case it is vital for the accounting information to be relevant in terms of what is appropriate when the information is analysed. The business should easily be able to access the information relevant to them to weigh up the upsides and downsides of the financial side of the business. One of the most important reasons the business would need the appropriate information to hand is to analyse what is cost effective and what exactly the business is carrying as a liability. The stakeholders then can use this information to make the changes.

In businesses accounting is a necessity, because it is the process of managing, calculating and recording ones financial records. The management of a business’s financial record can involve the recording of various different transactions such as; expenses or revenues, this then helps individuals who manage financial system of the business to determine how much one owes or is owed, without basic accounting a business would not be able to function properly. (Financial-Dictionary)

In order to manage a business effectively account are considered as the main base for a successful business any errors could lead the business to a loss and put them in financial state it also states how much profit and loss the business is making a year which also help process the forms that we need to comply tax return forms to ‘Her Majesty Revenues Custom and Revenue and customs’ which is essential in every business .Account give a brief outline of the business financial dealing side but must be very accurate so they can compared every year to see what is occurring and any improvements that need to be made.( TheTimes100

The first accounting principle That I am going define is the Going Concern principle The term ‘Concern’ is based from the early 20th century which means that is a ‘business’ or a ‘enterprise’ Accountant’s believe a company cannot go bankrupt or broke, unless there is reliable evidence backing the assumption. The concept does not guarantee that a business will be making money and remain in the future time coming. This assumption affects the value of assets of the company and also help accountants to make financial statements in action of assuming and in order to know that the business will not go bankrupt or liquidated which means that whether certain liabilities of a company and find out for certain if assets and apportioning assets and converting them in to cash to pay of the depts. So based on the financial details and evaluation an accountant has on a business which helps predict that the business shall stay for the foreseeable future coming.

The concept also supports the assets of a business that it will remain for a period time for example machinery, land, equipment so that all the assets can be utilized which basically means that securing and getting complete benefit from what the business in earning but if the business is not doing as well as it should be doing then all the assets would be sold within a year paying of the creditors and bankers would be paid out and whatever money is remaining would be given to the owners of the businesses which would put the business where it started off they would have no debt to pay but would not really own anything .

Overall the concept predicts that the business will maintain to commerce for the time coming and give accountants the taste of what the value of the business assets are going to be like whether it is going to make profit or loss and also for the future accounting period predict whether revenue or costs .But however without this concept the accountants would have to write of all their assets in the current period and in the long-term period that still have profitability benefit in the future.

The other principle Separate entity principle this concept involves where the job of the accountant involves keeping all of the business transactions of a sole proprietorship separate from the business owner’s personal transactions. The reason behind this is because for the purpose of the accounting it is considered to be two different entities however for legal purposes they are considered to be as one.

The effect that this has on the business is that the personal expenditure of the owner is kept separate from any costs incurred by the business meaning the owner’s transactions will not show under the business statements. If this principal isn’t followed then this may result in tax implications on the business as the accounts will not show a true reflection on the two different sets of transactions.

Also the consistency Concept which basically involves that when accountants are using one method on a business they should use it the same for any events or transaction in a business. This method is very valuable for a business in order for it compare it results and when the accounts are l0ooked at they can compare accounts from previous years to see whether any profit or loss has happened example is depreciation, once a method has been chosen it should be used every year . (happy accountant)

Prudence principle

This concept is also known as the ‘Conservatism’ this involves accountants to calculate roughly in arranging periodic accounts which are used mostly by small business that have less inventories .If in business the stock that is sold has become damaged it shall be sold and recorded for a lesser value and not it original value and also be more precise about the value of assets and about the profit in a business and not to overestimate them. .This concept entitles you to be very accurate about your assets and profits in a business. The concepts affect the running of the business by clearing uncertainties that surround many transactions by taking a conservative approach to recording such transactions. Accounting principles

For example if you have a business you need to calculate all yeah business and yeah over head straight away .However one of the disadvantages of this concept is that it should not be used for overestimate potential losses which could mislead to business accounts.

Verification principle

This concept involves that all statements in business account must be effective and efficient and verified by and independent person so that all the total of the revenues and expenditures in a business must be the same figures as in the books, ledgers of the business.

The matching and accrual principles are closely linked. Accrual is a form of accounting while matching is a principle which almost goes hand in hand with accrual accounting. The matching principle means that a transaction will only be recognised wen income and expenditures are actually incurred and not on the timing of the cash flow. In simpler words it requires revenues to be matched with expenses. The accrual principle means that income received should be recognized in the same period as the relevant expenditure incurred in earning it. Cash may actually not even be received in that period but it will still be recorded.

Any company or firm that is trading publically is required use the accrual accounting. However it is generally seen as good practice so many businesses use it anyway even though they are not legally required to do so. This helped the creditors and investors in getting a clearer picture of the business’ account.

One of the main benefits of accrual accounting is that during a certain period it creates a more accurate picture of income earned. This is essential for management when they want to make operating decisions. Another benefit is that it helps with cost control as expenses are reviewed more or less as they are earned. Because the account is reviewed on a more regular basis managers can be held more accountable for managing the accounts.

Another principle is the historical cost convention this principle means that the value of items or assets on a balance sheet or financial statements will be recorded as a historical value and not it current value. In the term the historical cost is actually the cost that the buyer paid for the item or the asset in the first place. The cost is usually associated with the purchase invoice. However there is an exception to this principle which is the recording of ‘marketable securities’ which will be shown on the balance sheet on the financial statements in their current value. This principle leads to a state where after several years the historical cost of an asset or an item will bear very little resemblance to the market value.

And lastly the Materiality principle this principle basically means that although all important and relevant information is made available to all parties in questions, any information that is irrelevant or insignificant need not be shown or documented for the view of the parties in question. The reason for this is that the information that is irrelevant or insignificant does not influence the decisions of the parties in question. For example there will be information about the business that need not be communicated to an investor as it will have no bearing or influence on the decision that the investor may take. A term that is used is material facts. Facts that as less significant are not regarded as material facts. To grade the information as material and not material is fully dependant on the party who the information is for. For example a debtor would need see invoices raised and amount outstanding during a period and this information would be considered material. Also the level of detail can also be considered material or not material. It just depends on what level of details the party in question needs to see. And details that are insignificant can be left out as it is not material.

Conclusion

I think that Accounting principles are vital for business in order to see what is happening outside and inside of a business

http://www.accountingcoach.com/online-accounting-course/09Xpg01.html

References

1. J.R.DYSON (2004). ACCOUNTING FOR NON-ACCOUNTING STUDENTS. GREAT BRITAIN: FT PRENTICE HALL. P36-40
2. FRANK WOOD & ALAN SANGSTER (2002). BUSSINESS ACCOUNTING 2. : Financial Times /Prentice Hall. P143 -P149.
3. ETER ATRILL & EDDIE MCLANEY (1995). ACCOUNTING AND FINANCE FOR NONE-SPECIALIST. HERTFORDSHIRE: PRENTICE HALL. PAGE 19
4. legalzoom. General accepted accounting principles Stephanie Paul 2008[Online]. Available from:
5. http://www.legalzoom.com/business-management/running-your-business/general-accepted-accounting-principles-or
6. TheTimes100. Accounting Principles[Online]. Available from:
7. http://www.thetimes100.co.uk/theory/theory–accounting-principles–112.php
8. Financial-Dictionary. What is accounting ?[Online]. Available from:
9. http://financial-dictionary.thefreedictionary.com/Accounting
10. http://www.docstoc.com/docs/1929180/Basic-Accounting-Principles
11. happyaccountant.The Cnsistency Concept [Online]. Available from:
12. http://happyaccountant.wordpress.com/2007/04/13/the-consistency-concept/]
13. http://www.accountingcoach.com/online-accounting-course/09Xpg01.html
14. http://www.accountingcoach.com/online-accounting-course/09Xpg01.html
15. http://accountingaide.com/examples/inventory-systems-perpetual-periodic.htm for periodic table words
16. http://www.ehow.com/about_6323345_accrual-accounting-vs_-matching-principle.html
17. http://financial-dictionary.thefreedictionary.com/Historical+Cost+Accounting+Convention

“Pain is temporary, pride is forever. ” This quote represents what thousands of young athletes are going through daily. Many adolescents who are working hard to become the best in their league are now falling short due to overuse injuries. With childhood obesity increasing, U. S. citizens have overlooked the overuse injuries that affect the active youth. In 2003 more than 3. 5 million children under age 15 suffered a sports injury that required medical treatment, thats about one attended injury for every 10 players, and seventy-five percent of those injuries were the result of overuse (Hyman, 2009).

Overuse injuries occur over a long peroid of time and occur after repetitive micro trama to th tendons, The human body has the tremendous capability to adapt to physical stress. However if the body is put under to much stress without the proper amount of rest injury can occur. The most common injury that occurs from this is an overuse injury these include tennis elbow, runners knee, and shin splints. There are three main factors that are contributing to young athletes getting an overuse injury. The first factor is that these young athletes are being trained by parents and coaches who have no background in sports.

These inexperienced coaches are providing the young athletes with improper training techniques, which can result in injury. Another factor that is leading to overuse injuries is the amount of pressure being placed on the athlete by coaches and peers. Wether it is a coach teaching their athletes to play through the pain, or parents pressuring their children so they can live vicariously through them, the well being of these young athletes is getting overlooked. The final factor stems from the previous two factors. Coaches are pressuring athletes to become specialized meaning they only participate in one sport.

While this alone is not an issue, whats wrong with this is they are being improperly trained year round and rarely are given the rest needed to stay healthy. In the article Overuse Injuries in Young Athletes Doctor James H. Johnson addresses one of the issues with sport specialization “Young athletes who specialize in just one sport may be denied the benefits of varied activity while facing additional physical, physiologic, and psychologic demands from intense training and competition’’(Johnson, 2005) The effects of the injuries are at first relatively minor.

The athlete could get something like runners knee, which is inflammation of the knee joint. If allowed the proper healing time the pain will subside and the athlete can continue training. However if the athlete does not take the rest needed it could lead to getting stress fractures in the bone. These types of fractures can be extremely painful and may take months to fully heal. The effects of these injuries are serious for all athletes, but for the young growing athletes these injuries could lead to bigger problems. For example the stress fractures could effect the growth plate in some athletes.

According to Overuse Injuries in Young Athletes the growth cartilage is most vulnerable to repeated micro traumas. This could lead to certain muscles developing faster than the bones they are attached to. Forcing them to attach to a different part of the bone, constricting it and not allowing it to grow properly(Johnson, 2005) Another damaging cause of overuse injuries is arthritis while overtime everyone will at one time get arthritis of some sort in the joints, for those athletes who have sustained many overuse injuries may obtain it at a much younger age.

According to the article Until It Hurts many doctors find it very frustrating to see these types of injuries in athletes because with taking the proper precautions while training the risk of getting an overuse injury can be almost eliminated (Hyman, 2009). The treatment for overuse injuries depends on the specific diagnosis. For minor symptoms, reducing the intensity, duration or frequency of training brings relief. switching to a different workout schedule and cross training with other activities that allows the athlete to maintain fitness while the injured area recovers.

This is very important for treating the early symptoms of overuse injuries. Working with a coach or teacher or taking lessons can assure proper training and technique. Paying particular attention to proper warm up before activity and using ice after activity may also help. Aspirin or other over the counter anti-inflammatory medications can also be taken to relieve symptoms. If symptoms persist, a sports medicine specialist will be able to create a more detailed treatment plan for the athletes specific condition.

This may include a thorough review of the training program and an evaluation for any predisposing anatomic or bio-mechanical factors. Physical therapy and athletic training services may also be helpful. Overuse injuries are one hundred percent preventable, athletes need only take a few important steps to be able to train risk free. The first step is to not do to much to soon, when first starting a sport it is important to start slowly and allow the body time to adjust to that activity.

It is best to start out with a warm up before the athlete starts training. starting out with stretches allows the muscles to relax more and it increases blood flow, which helps with support so not as much stress is being placed on the bones. The article Preventing Overuse Injuries, explains proper stretching technique, “Do not bounce with each exercise. Stretch until you feel tension but not pain”(Preventing overuse injuries, 2010) Stretching is key for a healthy work out, there are many different stretches that can be done.

It is best to find stretches that are geared toward the athletes specific sport. Another key point is if any significant pain is felt during training stop. also it helps to do a cool down after training is finished followed by stretching again. If there is any soreness after training is finished the athlete should stretch that area out specifically and then ice it down and possibly take an anti-inflammatory. If athletes were taught these easy steps overuse injuries could be cut down drastically.

References Hyman. (2009, april 07). Until it hurts. Retrieved from http://sportsillustrated. cnn. com/2009/more/04/06/youthsports. untilithurts/index. html Johnson, H. (2008, April). Overuse injuries in young athletes. Retrieved from http://www. hscoaches. org/docs/Over_use_injuries. pdfPreventing overuse injuries. (2010). Retrieved from http://familydoctor. org/familydoctor/en/prevention-wellness/exercise-fitness/sports-safety/-preventing-overuse-injuries. html

What are the economics of running a genomics company? What is the role of large pharmaceuticals in genomics? How competitive is the genomics industry? Running a genomics company is extremely capital intensive. Research and development, patenting, and developing marketable products cost a lot of money. The associated dangers of working with patents are also at issue here. Genset must be able to defend its patent in court against patent trolls, which can layer additional costs upon the capital intensive primary business activities of the firm.

At this point in time, the patent situation surrounding mapped genes is also tentative. The US courts have yet to rule on the patent status of genes, making the market for patented genes suspect. The other difficulty of the genomics industry is turning research into revenue. It takes a very long time to turn a patented gene into a medical product, which has to pass through several rounds of scrutiny before entering the market. Even if Genset is able to find a major gene, they might not see returns for several years. Large pharmaceutical companies are integral to the genomics industry. Genset researches genes that are related to a wide variety of diseases. However, many mapped genes will not be linked to any underlying genetic disorder. The genes that are linked to treatable disorders must be researched to discover chemical compounds that interact with genes to treat the underlying disorder. While Genset has the intellectual capability to research the genes, they are not capable of developing drugs to interact with the genes they have mapped. Through licensing agreements, genomics companies could decrease the risk and amount of time before they could report positive earnings.

The licensing agreements generated revenue immediately by selling some or all of the rights to future applications of specific genes. Thus the genomics companies did not have to wait for future applications to mature before they could realize positive earnings. The industry is also extremely competitive. There are 114 biotechnology companies in France, with an additional 1,050 in the United States. Several genomic companies have already passed through their IPOs with mixed success. Competition is fierce to discover every human gene. It is a race to see who finds and catalogs all the human genes by the end of the millennium. By early 1996, there was an intense race to map all genes, and genomics companies were getting closer to finishing the task every day. There is also heavy competition between the genomic companies and pharmaceutical companies. 2. What is happening at other genomics companies?

What is Genset’s competitive position in the genomics industry? Many genomics companies have passed through IPOs and private funding rounds. At 250 employees, Genset is larger than all the other comparable companies provided in the case. Many other companies are operating in the sequencing business, developing libraries of sequenced genes. Beyond private companies, many research universities, government-sponsored facilities, and research institutions are also sequencing genes. While progress has not been lightning fast, it is worth noting that there is a finite supply of genes in the human genome. The amount of genes that are functional from Genset’s perspective is unknown. While competition to discover every gene was fierce, Genset was engaged in the systematic and comprehensive analysis of the genetic map of the humans to identify and patent genes and regulatory regions related to selected common diseases.

Genset was a unique firm because it was both creating a library of genes and researching the genetic causes of diseases. They intended to discover drugs to treat these diseases and enter into strategic partnerships with pharmaceutical companies to develop and market these drugs. Genset not only researches genes, but it also is the world’s largest creator of synthetic DNA. Bradys believes that this line of business is extremely important to Genset’s future. Part of the desired $70 million will be devoted to tripling the output of synthetic DNA by updating its sequencing machines and increasing its workforce. Part of the money was needed to finance more equipment purchases and further research for its DNA mapping and sequencing operations to beat its competition.

The industry is expanding quickly, with many small, nascent firms popping up, searching for private funding. The landscape is expanding quickly, with each firm trying to find ways to monetize its findings as quickly as possible. 3. What are the key success factors in genomics? What are the risk factors? What is the nature of cash flows in genomics? To be successful in genomics, a firm must have the capital to acquire the necessary equipment and personnel to quickly map and patent genes.

Given the finite amount of genes available to map, the genomics industry is truly deadlocked in a race to sequence the human genome. While raising the necessary capital is difficult, the more difficult aspect of the genomics industry is finding ways to monetize their research. Genset is fortunate to be the world leader in synthetic DNA. While their research may take years to pay off, their synthetic DNA operation gives them a reliable revenue stream.

Genset is unique within the genomics industry in that respect and another: they are not just sequencing genes; they are also researching the genetic causes of diseases. This additional research makes their genetic patents and researches more valuable to pharmaceutical companies that will be assured that they are pursuing worthwhile genes. To achieve profitability, Genset needed to successfully discover genes related to particular diseases, find partners to develop the products, conduct clinical trials, get regulatory approvals, and successfully manufacture and market such products. But the risk with this plan was that Genset was based in France and patented its discoveries in France and the Eurozone countries.

They were also unsure if the discovered gene fragments or genes (without known functions) could be patented. This was a BIG risk, in that any other firm could discover the gene’s function and patent it. Also since they did not have any patents in America, where they were considering raising money put a big question on the viability of the plan. There was also the possibility that the patents, mainly on which the firm’s value was based on, were broad enough to give the firm a competitive advantage besides any patent could be challenged, invalidated, or circumvented by others. Are Genset’s cash flow projections reasonable? How much cash does the company need and when? To achieve profitability, Genset needed to successfully discover the genes associated with particular diseases and find appropriate strategic partners to develop products, conduct clinical trials, and obtain regulatory approvals.

Genset entered into a three-year strategic alliance with Syntehlabo SA which focused on discovering genes associated with prostate cancer. They were also under discussions with an affiliate of Johnson & Johnson to target schizophrenia. Their financial projections showed that in the future the company expected its revenues to come primarily from these types of contract revenues. The company has also filed three patent applications in France relating to its gene sequencing techniques. They are projecting their revenues based on successfully discovering these genes. Genset is looking to acquire approximately $70 million to finance more equipment purchases and further research.

The company needed $30 million for capital expenditures including the expansion of its TGS high throughput sequencing facility, the construction of a new mapping facility, and polymorphism scanning lab. Another $40 million would fund ongoing research and development expenses. The funds were needed almost immediately. Without this technology and research, Genset would fall behind with no chance to recover. Raising this capital would be Genset’s largest financing project and would augment the $54. 2 million of funding raised through private equity (70. 4%), bank loans (13. 5%), government bonds (7. %) and other loans (8. 9%).

We believe that Genset’s cash flow projections could be overstated since a major part of their cash flow source is contract revenues which would have to be made with Pharmaceutical firms. The case mentions that currently all the patents that Genset has are registered and protected in Europe. Most pharmaceutical firms on the other hand are based in North America with it being the largest market and unless all the patents that Genset are are registered and protected in North America, we believe they would not be in a position to achieve those cash flows.

Hence we have discounted these cash flows by 40% initially. Also, we believe that post an IPO and strategic investors from North America, Genset will develop the capability and expertise to pursue these patents listed in N. A and achieve the growth that they expect now. Thus we have a terminal growth rate of 5% factored in our model. However, we have factored in the capital expenditure schedule that the firm has planned on the onset and that has been factored in the model since these expenses are essential in the pursuit of the firm’s future projections. 5. What is the current state of the financial markets? Are they conducive to an initial public offering by Genset? Would a private placement be a better alternative? The current state of the financial markets is healthy.

Recent IPOs by other genomics firms have fared very well, despite the inherent risk in the business. Gene research is seen as the future of science, just as physics was the driving science of the early twentieth century. Given the success of recent offerings (with Human Genome Sciences and Myriad Genetics being the most successful), Genset is correct o investigate the possibility of a public offering. US capital is flowing into genomics at a steady clip, making it an appealing source of funding. The conditions associated with private funding make it less appealing to Genset. Genset is also unlikely to be able to raise their capital requirements through private funding alone. They have already received $54. 2 million in private funding, with 59. 3% of their shares owned by private investors. Private investment in biotechnology is at an all-time high, but funds are restricted from putting more than 10% of their total capital into any one business.

This may require that Genset form deals with multiple funds, further dividing their remaining equity. Also, there is a possibility that post these deals, while Genset would further dilute their equity there could be a situation where they could again be short of funds, and raising funds in the future via this route could/could not be difficult.

However, once you access the public markets there is always the option of accessing the markets continuously for multiple capitals raising activities. Thus going public sounds much more attractive. Also in the future, given the right strategic partner and if making continued contract revenue agreements becomes difficult they could also enter into a partnership or joint venture. Given that the firm would then have stock that is listed on the bourses makes this much easier and hence going public is an extremely attractive choice. 6. Should Brandys take such extreme measures to issue stock in both France and the US? Why is he doing it? What additional costs and requirements are raised in doing so? Bradys is understandably wary about issuing stock in both France and the US.

The offering would cost Genset twice as much, losing roughly 20% of their raised capital to fees and services. Before the offering, Genset would need to review their financials and prepare their past statements to comply with both US and French law. They would also need to secure accountants, lawyers, and underwriters in both France and the US, which will cost the firm a hefty price. Bradys is pursuing this option to expose the firm to as many possible sources of funding as possible. The US capital market is deeper than that of France. However, since the firm is French, it is able to draw some of the most talented French scientists to its firm. The US genomics market is deeper, making the pursuit of human capital more difficult. Bradys understands that if he were to only make an offering in France, he would be incapable of raising their required funds. Bradys needs the US market not just for capital. He also needs the US pharmaceutical industry and patent protection. By having American capital, Genset can more effectively lobby the US government for the patent protection they need to make their mapped genes intellectual properties.

It is also worth noting that Genset has plenty of cash reserves and is not as badly in need of capital as Brady believes. While the US has yet to weigh in on patent protection for genes, the increased amount of commerce on the side of genomics indicates that the courts will most likely uphold the rights of companies to patent their library of genes alongside their patented process.  Why is Genset going public now? Does it make sense? Genset is going public now because they need $70 million in capital to advance their research and to not fall behind other genomics companies. There are some positive points to going public now. Tapping into the US market makes sense because of the higher amount of venture capital expenditures over their native France.

If Genset does not find a way to raise this capital, they will most likely fall out of competition among their direct competition. The drawbacks to going public are many. No other similar genomics business has raised $70 million in its IPO. The highest previous offering was by Human Genome Sciences, which raised $66. 7 million. However, Human Genome Sciences did not face the challenges of Genset. Most offerings lose 10% of their raised capital to offering related services. Genset could conceivably lose 20% of their offering value, as they must prepare for offerings in both France and the US. A dual offering would require accountants, lawyers, and services for two different markets in two different languages. If Genset were to achieve their desired level of $70 million, they would need to raise roughly $87. 5 million in the capital, before related costs, are tabulated. It makes sense that Genset goes forward with an IPO at this time, although it is not without its dangers.

If their IPO fails, the firm would be tainted and they would be hard-pressed to raise capital elsewhere. They could instead seek more private capital, which would not preclude an IPO in the future. Even if another round of private capital falls short of the $70 million marks, they could receive bridge funds that would carry them to another round of funding through venture capital or an IPO. However, given the number of firms entering the market, Genset could easily hurt their value by waiting.

The markets could grow weary of genomics companies and fail to pony up capital to even the best companies. Genset should strike while the iron is hot, not wait until the market has cooled down. Genset must firmly trust their advantage of having the most talented French scientists in the US market. The flood of US-based genomics firm has diluted the talent pool of American scientists. Genset has a strong advantage in this respect. Coupled with their superiority in synthetic DNA and competitive edge in DNA sequencing, Genset is certain to be a much sought after stock. 8. What valuation would you put on Genset’s stock? Be sure to support your valuation with a specific analysis. You could try to be creative here!

We estimate Genset’s stock to be priced at $10. 57 per share. We are using a beta of 1. 6 which is based on the weighted market capital of all comparable companies. The reasoning behind this is that the majority of the listed firms are in the US and hence it is difficult to find closely comparable firms. We also use the P/E based valuations since the value of the firm will also depend on how the comparable firms have performed in the market post IPO. The terminal growth rate is 5% which is reasonable since we haven’t accepted the revenue streams given to us by the firm. We have reduced them to 60% of the firm’s estimates since the numbers look highly optimistic and could be difficult to achieve given the fact that the firms’ patents are registered only in Europe and could not be easily marketable in the US where most development and pharmaceutical firms are based.

The revenues depend on agreements with pharmaceutical firms and if these agreements are subjective then the associated revenues will also be subjective. The core valuation itself comes from a variety of inputs that we considered. While we also did comparable company valuations, we agreed upon considering using the adjusted present values method which realizes a share price closest to that using a range of share prices obtained using the multiples method. We used a range of discount rates and P/E values associated with them, from the range of comparable firms given to us. We believe this gives us a range of valuations and taking out the High-Low values, we use the median Net Present Value of the firm and the associated stock price derived from it thus ending with a share price of $10. 57 and an NPV of $44. 796mn. We believe this is fair conservative valuation and reflective of the risk as well as the potential associated with the firm.

This reflects a good middle ground for the investors to get in on a company with great potential as well as for the firm to capitalize on its unique position in the biomedical space.