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11

Examine the benefits and welfare system

Order type: Case Study

Question

Redistribution of wealth is considered to be an important function of a tax system. While this transfer can aim to reduce the income and wealth gap between the rich and the poor it can also lead to entrenched behaviours and dependency. Policy makers continuously strive to minimise the negative effects of this important function and reforms to the benefits and welfare systems are proposed and implemented from time to time.

Many research studies have looked at the relationship between taxation and labour supply and they have been summarised in Chapter 3 of Mirrlees Review titled ‘Labour Supply and Taxes’. The evidence suggests that reform of benefits and tax system can result in increased incentives for certain groups of people.

In July 2010 the Secretary of State for Work and Pensions presented to the UK Parliament a consultation document titled ‘21st Century Welfare’. This document outlined the intention of the coalition government to change the benefits system. After a period of consultation the Department of Work and Pensions published a second document titled ‘Universal Credit: welfare that works’.
In this assignment examine the benefits and welfare system by answering the following questions.

1) Identify and summarise the research evidence presented in Chapter 3 of Mirrlees Review titled ‘Labour Supply and Taxes’ which is most relevant to the reform of the benefit and welfare system.
2) Summarise the shortcomings of the existing benefits and welfare system identified by the document titled ‘21st Century Welfare’.
3) Summarise the proposed changes to the welfare and benefits system with reference to the document ‘Universal Credit: welfare that works’ and other documents available on the Department of Work and Pensions (DWP), Her Majesty’s Revenue and Customs (HMRC), Directgov websites and any other publication which are relevant.

 

4) Summarise the criticism which has been published by different organisations and in the press about the proposed changes to the benefits and welfare system.PLACE AN ORDER TODAY AND GET 15% DISCOUNT (CODE GAC15)

 

10

Fundamentals of Corporate Finance.

Order type: Case Study
Case Questions

Refer to text Fundamentals of Corporate Finance and answer the questions in the following mini case studies:

 

Case 1: Refer to a hotel and replace with data from the company in terms of expansion of the non-current asset base. Estimate the cash flows from such asset acquisition, assuming a cost of capital of 10%. Answer questions 1 (a, b, d, e, f) and
– then provide a theoretical explanation of each method of evaluation.
-then evaluate which is the best technique for capital budgeting (chapter 9)
After that Case 2 and 3: Identify the various forms of capital being employed by the company, and suggest changes to optimize the weighted average cost of capital (WACC). Assume costs of each component consistent with costs in the UAE, and compute the cost of the new WACC. Show all workings (chapters 14 and 16)

In case study 2: identify the various forms of capital being currently used and compute the individual cost of each form.

In case study 3: Suggest restructuring the capital base in a new form and compute the WACC. Justify your decisions.PLACE AN ORDER TODAY & GET 15% DISCOUNT (CODE GAC15)

 

4
Case Study

A written Research Report would be a maximum 2,000 words, demonstrating the application of the theories, methods and techniques of purchasing and procurement on the case study selected by the lecturer.

Measuring Purchasing Performance

A CERTAIN COLLEGE
Introduction
This is a medium sized college. Last year it had a total of 17,000 students enrolled, on three different sites each with a restaurant. It has four main groups of students:

• School leavers in the 16-19 age range, taking full-time GCE advanced level and vocational courses
• Employees of local organisations, studying on a part-time basis for professional and management qualifications
• Students following higher education courses, such as foundation degrees and higher national diplomas and certificates
• Adults taking leisure and recreational courses.

Last year, its income totalled £38 million, while total expenditure amounted to £37.3 millions. Of this, £25.2 million was paid out as salaries and £12.1 million was spent on operational expenses.
The Purchasing and Supply Function
Until the beginning of this year, it did not have a separate purchasing and supply function. All the college’s purchasing was undertaken by budget holders, such as senior and middle managers and certain administrative staff. None of these had any purchasing experience or qualifications and all purchasing decisions were based on past experience. The suppliers used were generally those who had dealt with the college for many years.

Last year the board of governors decided that it would be appropriate to appoint a purchasing manager. The post was advertised, applicants were short-listed and interviewed, and at the end of this process Nathan was appointed. He started in the role on 3rd January this year. One of his targets is to achieve savings of £1.0 million by the end of his first year in post.

One of Nathan’s first tasks is to carry out a review of all the spending. The largest amount of expenditure, £4.6 million, is on catering supplies for the restaurants, on each site. He discovers that each restaurant manager has contracts with different suppliers and there is little coordination between them.

During a meeting with the manager of the college’s main site restaurant, Nathan discovers that there have been many problems with the supplier of frozen foods. Deliveries are often late in arriving, sent to the wrong site, or are not of the quantity ordered. The restaurant manager claims that such poor supplier performance makes it difficult for him to match the standards required.

Purchasing Problems
Nathan discovers that all the budget holders order independently, often from the same supplier of books, stationery and computer consumables. Nathan arranges a series of meetings with various budget holders, but he finds that they are reluctant to give up their power to make buying decisions.

Nathan’s investigations also reveal that some services, such as cleaning and estate management, have been outsourced and these contracts have not been reviewed for more than four years. The cleaning contract costs the college £1.8 million, while the estate management contract has a cost of £1.0 million.
Nathan also finds out that the college operates its own travel agency, principally to provide training opportunities for those students on travel and tourism courses. However, it is college policy that all travel arrangements for staff and students have to be made through its own agency and not through competitors in the town.

The information in this case study is purely fictitious and has been prepared for assessment purposes only.
Any resemblance to any organisation or person is purely coincidental.
QUESTIONS
Questions 1 and 2 relate to the case study and should be answered in the context of the information provided.
Q1 Describe FIVE problems of purchasing and supply, at the College, that Nathan should investigate in order to save £1.0 million.

Q2(a) Explain the potential impact of poor supplier performance on the ability of the college restaurant managers to provide a quality service.

Q2(b) Describe THREE criteria that Nathan might use to measure the performance of the supplier of frozen foods.PLACE AN ORDER TODAY & GET 15%  DISCOUNT(CODE GAC15)