Let s Talk About Financial Statement Analysis - 1874 Words

Let’s talk about Financial Statement Analysis is the process of reviewing and analyzing a company’s financial statements to make better decisions. When you are dealing with financial statement analysis you will be looking at income statement, balance sheet, statement of cash flows, and a statement of retained earnings. The larger field of business analysis is very significant and essential. Forecasts and jeopardy are part of the process in business analysis. Most business will make sure they have a business analysis due to it is very useful in business decisions. Debt securities and equity is a wide range of business analysis to make very important business decisions. In your business you want to spread your credit through short or†¦show more content†¦Helping organizing business task through business analysis through evaluation of company’s business environment, its strategies, and its financial position and performance. I would begin by evaluatin g a company business environment and strategies. We start by learning the company’s business accomplishments and learn that it is a top global consumer product company. We are trying to see if the company have worldwide accepted brands that are mainly in the oral, personal, and home care arcades. FINANCIAL STATEMENT ANALYSIS 4 Ensure you have worthy supporters to loan funds to your company in return for a potential of repayment with interest. So you know this type of financing is momentary since supporters want repayment of their funds with interest. Creditors are all about making money in the course of helping you out with your industry. Creditors have different ways to loan treasuries in many forms and for a variation of tenacities. Supporters will work with you to make sure which is right for your business. If you decide to organize trade then functioning creditors will transport goods and services to a firm and expect payment within a sensible period, often stubborn by industry norms. Some trade credit is petite term, vacillating from 30 to 60 days, with cash discounts often settled for speedy payment. Skill creditors usually do not receive interest for a

Democracy According to Mailer Essay - 3483 Words

Democracy According to Mailer Re-reading the bulk of my work in the course of a spring and summer, one theme came to predominate-it was apparent that most of my writing was about America. How much I loved our country-that was evident-and how much I didnt love it at all! -Norman Mailer, foreword to Time of Our Time The first time I read anything written by Norman Mailer-it was an excerpt from the Vietnam-era Armies of the Night-I remember two things coming to my mind. The first thing that popped into my head: what an arrogant, self-righteous jerk this Mailer guy is! What kind of egotistical writer places himself in his own novel? What new-age Narcissus finds the tragic flaw of every individual he encounters? What brand of†¦show more content†¦His writings offer an invaluable historical memoir of sorts, the piercing thoughts of a man involved in the essence of what America has been for most of the 20th century. A Harvard graduate who served in World War II, co-founded The Village Voice, ran for political office, and provided a major voice for the anti-Vietnam movement, Mailers been there, done that point of view gives readers a vital perspective on what America truly is, underneath the red, white, and blue facade every small town, big city, and baby-kissing politician bears (Mailer 1305 ). Mailer set himself the goal of offering some hint at a societal and cultural history over these last 50 years, and by creating such a body of work, Mailer gives America a rare opportunity, the chance to look itself in the mirror, accept the good and bad of what exists, and decide to improve upon what it can for the generations of Americans yet to be born (xi). He knew that our democracy was riddled with anti-Enlightenment contradictions, trumpeting the virtues of liberty and equality while over half the American population remained legally inferior for more than 170 years. In a country that prides itself on every citizen having an active voice in the realm of lawmaking, he saw the tight-knit relationship between government and corporate corruption bind itself to theShow MoreRelated Internet Security Essay1911 Words   |  8 PagesInternet is recorded somewhere (Boyan, Codel, and Parekh 3). An individuals personal security is the major issue surrounding the Internet. If a person cannot be secure and have privacy on the Internet, the whole system will fail. According to the Center for Democracy and Technology (CDT), any web site can find out whose server and the location of the server a person used to get on the Internet, whether his computer is Windows or DOS based, and also the Internet browser that was used. This is theRead More The Environmental Lobby and Voting Trends in the United States5545 Words   |  23 Pagesconsider increased GOTV efforts among the young. Local vs. National Assessments An individual’s assessment of his/her local environmental quality is an important determinant of his/her likelihood to support increased environmental spending. According to the 1995 NES pilot study report, people who approve of their local air quality are less likely to support increased federal expenditures on behalf of the environment than people with negative assessments. Evaluations of national air quality haveRead MoreJasper Jones Study Guide6848 Words   |  28 Pagescritical acclaim and was selected as the ‘one book’ by the Perth International Arts Festival in 2005. It has sold more than 18,000 copies to date. Silvey released an illustrated book telling the story of Warren, the guide dog from Rhubarb, in The World According to Warren. Jasper Jones has been longlisted for the Miles Franklin Award and won the Indie Book Award in 2009. Silvey is currently adapting the story for a script. For interviews with Silvey regarding Jasper Jones see: http://blog.book topia.com.Read MoreInfrastructure for Knowledge Management42738 Words   |  171 Pageswhen all the government’s departmental CEO’s and CFO’s were replaced with â€Å"politically friendly† CEO’s and CFO’s. Suddenly, overnight, the tides of power had changed and of course everything the previous CEO’s and CFO’s had done was horribly wrong according to the new regime. It wasn’t long after when the contracts started drying up and funding was cut or redirected elsewhere. 28 Now I had a problem. I had to go out into the real world to make a living now. I was packing an excellent reputationRead MoreDeveloping Management Skills404131 Words   |  1617 Pagesfor scoring skill assessments and updated the comparison data for each assessment. †¢ Updated the research supporting key points in each chapter. †¢ Added a Resource Locator table at the beginning of each chapter in the Instructors Manual, organized according to a chapter’s learning objectives. †¢ Added new video clips and exercise recommendations in the Instructors Manual. †¢ Enhanced the test bank by adding more application questions. †¢ Revised the PowerPoint slides. A MESSAGE TO STUDENTS: Why Focus

Operations Management of a Coffee Shop-Free-Sample for Students

Question: The National Franchising headquarters for a large Coffeehouse chain has received Complaints about the service, quality, and cleanliness of one of its cafs in your area. You have been sent to Inspect and to report on what you see. Answer: Background Wake Up coffee is one of the leading coffee shop chain in Australia. One of the franchisee operates in La Trobe street Melbourne which is one of the famous and busiest streets of Melbourne. It has been two years that the coffee house in La Trobe street have started the operations. Initially the operations of the company was good but from the past six months the customer complaints have increased, the complaints were based on the quality of services provided to the customers are not up to the mark. Some of the customers complained about the mismanagement due to lack of staffs, they complained about delays in their deliveries and also the quality of coffee, beverages and the snacks provided in the coffee house have been deteriorating. The complaints of the customers have raised concerns and the authorities in the headquarters in Sydney are worried about the fall in the sales and increase in customer complaints. To understand the depth of the issue an investigation was conducted, which followed two visits to the coffee shop. Problem Identified The main problem that led to the investigation was the customer dissatisfaction. The increasing number of complaints regarding the food and the service quality at the coffee shop has been identified as the main reason that led to the investigation. Another reason was the fall in sales of the franchisee so the business owners decided to cooperate in the investigation so that proper strategies can be implemented for resolving the issues (Mahadevan, 2015). Purpose of the report The purpose of the report is the identification of the issues within the coffee house In-depth analysis of the problem Knowledge of the feedback of the customers and their satisfaction level from the product and services provided by the company For finding solutions of the problems and making an operational plan that would consist activities to increase operational efficiency at the coffee shop. Significance of the report This report is very for the national franchising headquarter of the coffee chain and to the franchisee as well. This report will find the limitations of the operations. It would help the franchisee to implement measures to improve the customer service. After this report the business owners would be able to find the actual reason for the decline of the sales. They can train the employees and lead them towards the right direction so that good quality customer service can be provided aiming at increasing the customer satisfaction level. For any business to gain sustainability, it is very important to gain customers trust. Loyal customers are the key to sustainability of the business. A happy and satisfied customer will always bring customers that are more new and thus business will grow. So, it is very important to keep the existing customers happy. In the present scenario of the organization, mismanagement has led to customer dissatisfaction and fall in sales of the coffee house. This review report will guide the management while making strategies and operational plan for the business. Scope of the report The report focuses on the problem and issues found out from the inspections done on the coffee house. Apart from identifying the issues, the report also analyzes the problems within the organization. After the analysis have been done solutions would be given so that proper measure are taken for combating the crisis situation that the coffee house is currently facing. Data collection The data collected for the review report was based on personal investigation that was carried out in two different occasions. The investigations aimed at finding the problems that caused problems within the organization. One of the visits was made during the month of August after the increase in the customers complaints. The method used for data collection was investigation. Therefore, the data used for this report are primary data because they have found out through field research and customer feedback. One of the visits was a surprise visit so that the operation procedure can be evaluated properly. Paying a visit by informing the franchisee might alarm them and there are chances that some of the issues might not be highlighted. Maximum issues came into light during the first visit to the coffee house. In the second visit in the month of September, the focus was mainly on the inventory management of the coffee house and customer feedback because these two things were left in the ini tial investigation. Organization The report starts with introduction that contains background detail describing the scenario that led to the issue. It contains problem identification, followed by purpose of the report, the next thing included in the introduction section is significance of review reporting. There is a detailed discussion on the type of data and method for data collection is used. The next section of the report contains discussions from the findings of the investigation. The last section of this report contains recommendations and conclusions. Discussions of the findings This part of the report consists detailed discussion of the findings and the impact of the findings to the business. Finding 1. Less number of employees- During the first visit made to the Wake Up coffee shop it was found that there were less number of employees to to manage the operations. The customers were comparatively much more in number than the employees. In such case it is pretty obvious that there would be mismanagement. The employees found it difficult to take the orders from the customers and deliver the orders on time. There was a situation of chaos within the coffee shop. The time gap between a placed order and its delivery was too much and the customers were frustrated. Some of the customers were seen walking out of the coffee house. Only five staffs were seen on the first visit two were taking orders, two were engaged in preparation of coffee and one was at the front desk as concierge. It was noon and rush hour, so less number of employees caused chaos. Analysis- Less number of employees in rush hour causes mismanagement. More employees are required to be hired for working in the rush hours of the day because there are more number of people that would be visiting the coffee shops in the rush hours. Finding 2. Quality of the service The mismanagement was so much that wrong orders were placed to the customers. Analysis- The service quality was very poor, the inspector also placed an order and it was found that delivery time of a cup of coffee was 25 mnts, which was too late. The cup that for serving coffee was not properly cleaned. For service industry it is very important that the quality of service is of high standard, if the company wants to create a competitive advantage in the market or else even the existing customers will prefer other service providers. Finding 3. Quality of products- The quality of the coffee served was not up to the mark, it is completely different from what is being committed to the employees. Even other customers were complaining about the quality of coffee and snacks, were very poor. The muffins that were being served to the customers were not fresh. Analysis- The quality of the food or coffee that is being served is not as per the quality that is being committed. Some of the loyal customers complained that initially the quality of the snacks like, muffins, cakes, pastries and other desserts was much better than what is being served presently. It is very important that the customers expectations are always met, failure to providing the quality that has been committed often becomes the reason for complaints. Finding 4. Cleanliness Another major issue that came in to light during the second visits was the cleanliness was not maintained. All the restrooms were dirty and were smelling that made the customers very agitated. Tables and chairs were not properly kept. The windows were not dusted, the table cloths and curtains also were not properly cleaned. The whole atmosphere was not not appealing and rather it seemed very gloomy. When the refrigerators and the kitchen of the coffee shop was inspected it was found that the refrigerators were very dirty and stale food products were also found. Analysis- Ambience of the coffee shops are also important, a soothing atmosphere makes the customers to visit the place repeatedly seeing it from the perspective of a first time visitor it would give a bad impression to the company. They would never prefer to visit the place again and will also spread negative word of mouth. A dirty place always gives a bad impression and it is also risky for the customers in terms of their health. Hygiene is the most important factor for any organization. Finding 5. Decreased number of customers- During the second visit, it was found that the number of customers has quite decreased. Even in the second visit the investigator preferred to visit in the rush hour but there were very less customers. Analysis- Decrease in the number of customers is the clear sign that the business of the company is running in loss. Compared to the previous visit the number of customers had significantly reduced. Finding 6- Looking at the sales reports of the company it was found that from the past six months the sales of the company was falling considerably. The operating cost of the coffee shop was still the same but the revenue had decreased Analysis- It is very clear that the fall in sales was because of the poor quality of service and other factors that compelled the customers to switch to other service providers. Finding 7- From the customer feedback during the second visit it was found that most of the customers were dissatisfied with the either the service or the ambience of the coffee shop. Some of the customers even complained that they are not getting the value of the services that they are being provided by the company. Analysis- Customer satisfaction is the most important criteria for business growth and it the determinant that either brings loss to a business or profit. In this case, customer dissatisfaction has been the root cause for all the issues. Conclusion Thus from the following report it can be concluded that there are severe issues that are being faced by the coffee house chain Wake up. The coffee chain has many outlets and franchisee in Australia. The good will of the coffee chain will be lost if the situation remained same. The headquarter of the WakeUp has been getting complaints, from the past six months the complaints have been increased. The complaints are not just one issue there are multiple issues that are faced by the customers. Poor quality of food products and services has been one of the consistent complaints from the end of the customers. Customers have also been complaining about issues like, late delivery of orders and they have to wait for around 25 mnts for a cup of coffee. The complaints raised the concerns of the authorities in the National franchising headquarter of the coffee shop and therefore two visits were paid. The aim of the visits was to investigate the reality of the complaints and the reason behind the inefficiency at the coffee shop. After the visits, one was pre-notified and in the other visit the investigator visited as a customer. It was found from the investigation that most of the complaints of the customers were true. There was mismanagement because there were very few staffs in the rush hour. Hygiene was not maintained properly. Customer service and the food products including the coffee served at the coffee shop was not of good quality. Therefore, there is a need for an operational plan that could increase and improve the overall efficiency of the coffee shop. Recommendations Looking at the condition of the coffee shop and the decline in the sales, certain measures have been taken so that the efficiency of the coffee shop can be improved and it achieves its goals and objectives. The recommendations aims at helping the business gain its previous position. Increasing the number of the employees- This was the first finding that the number of employees were very less. During rush hour, it is suggested that the coffee shop should have at least 4 staffs who would be taking the orders from the customers and 5 people who would be engaged in preparing the orders of the customers. Improvement in the preparation methods- One of the reasons behind late deliveries of orders are inefficiency in preparation procedures. Among the five members two of the staffs would collect the orders from the staffs in the dining area and assemble them, they will communicate the orders to the other three staffs in the preparation section. The order would be prepared accordingly. Unless and until an order is not completed another order would not be processed. Training and development- The employees should be trained so that they can provide quality of service as well as quality of coffee and the desserts provided. Generally the desserts are not prepared within the coffee shop but ordered from a local bakery, so it is the duty of the staffs in the kitchen to see that stale products are not delivered to the customers. A standard preparation technique needs to be followed so that the standard of the coffee servings are same as the main outlets of Wakeup coffee shop. For this purpose the standard methodology should be send to the franchisee and it is the duty of the franchisee to see that it conducts training for its staffs members. Training should also be given for providing quality customer service (Heizer, 2016). Cleanliness- Another issue that was found in the investigation and also in the customer complaints was regarding cleanliness. The coffee shop should hire employees who would clean the coffee shop, change the table clothes and curtains regularly. Dusting should also be done regularly. The restrooms should be kept clean and there should be availability of water and toiletries. The ambience of the coffee shop should be made as soothing as possible by using beautiful lights and modern furniture. A slow music might make the atmosphere more pleasing. Increase of sales- For increase in sales the company needs to focus on many things like customer relationship, promotion and advertisements. For customer relationship the coffee shop needs to improve its customer service and customer handling, an efficient manager should be hired for handling the customer grievance and resolves issues related to orders, so that no customer walks out of the coffee shop. For advertisements it is not necessary that the company spends too much on advertising activities it can simply use print media for advertising. Flyers and brochures stating would be enough for advertising. Promotion- For promotion also the coffee shop does not need to spend much they simply can plan a re-launch of the coffee shop, where few offers, discount coupons would be enough for making for attracting customers on the re-launch. Seeing the image of the coffee shop and the decrease in sales, in order to gain its previous position the coffee shop will have to take a re-launch as a service development measure. The re-launch should be planned and the customers should be informed in advance with the help of flyers that will have information about the revised menu and offers or discounts for the customers so that the re-launch of the coffee house is successful (Davis et al., 2013). Operational plan For re-launch of the coffee shop a number of resources would be required that the company. One of the most important resource that would be required for the coffee-shop are human resources. More employees would be hired, five more employees would be hired including, and a quality manager would also be hired who would be looking at the customer service quality provided to the customers. Fund for the re-launch, promotional activities and for buying equipments including a new coffee machine and refrigerator, will be raised from the financial institutions, a loan of dollar 5000 would be sufficient for re-launch and promotional activities. The key performance indicators would be the feedback of the customers and increase in sales. The feedback from the customers will be taken through the help of questionnaires of customer feedback diary where they can write their feedback and rate the coffee shop, this will help a lot in knowing the feedback of the customers and their level of satisfaction which would also be an indicator for performance of the coffee shop. Another key indicator for performance would be the increase in sales and the number of customers that visit the coffee shop. If customers would visit the coffee shop on several occasions then it would simply mean that the customers are satisfied and happy with the service of Wakeup. Increase in profit would also be a key indicator that the coffee shop is performing well after the implementation of the operational plan. A contingency plan will be made if the re-launch fails. The alternative plan is that if the re-launch fails. Wakeup will start a bakery for the growth of its business the operational plan will be communicated with the help of e-mails and letters. A memo would be circulated would be circulated among the employees to communicate them about the weekly activities that would be carried out in the coffee shop. Gantt chart, timeline for showing the weekly activities of the coffee shop Activities Day 1 Day 2 Day 3 Day 4 Day 5 Day 6 Day 7 Hiring employees Buying equipments Renovation of Coffee Shop Advertising and Promotion Training and development The recruitment of the employees will be done according to the hr policy of the company References Davis, B., Lockwood, A., Pantelidis, I., Alcott, P. (2013).Food and beverage management. Routledge. Freed, S. (2017). FIRST IMPR ESSIONS.Professional Builder. Galliers, R. D., Leidner, D. E. (Eds.). (2014).Strategic information management: challenges and strategies in managing information systems. Routledge. Heizer, J. (2016).Operations Management, 11/e. Pearson Education India. Jahanshani, A. A., Hajizadeh, G. M. A., Mirdhamadi, S. A., Nawaser, K., Khaksar, S. M. S. (2014). Study the effects of customer service and product quality on customer satisfaction and loyalty. Mahadevan, B. (2015).Operations management: Theory and practice. Pearson Education India.Torres, E., Kline, S. (2013). From customer satisfaction to customer delight: Creating a new standard of service for the hotel industry.International Journal of Contemporary Hospitality Management,25(5), 642-659.

Lord Of The Flies Analysis free essay sample

Their father, Bully, pats them on the shoulder and laughs along with them, pr dud that one day, his sons will be just like him. William Gildings novel Lord of the Flies answers the question asked by many school officials and parents alike: When, if ever, does teasing and goading cross the lie en into bullying? Through the misfortune adventures Of Ralph, Jack, Piggy, and the other boy s on the island, it is revealed that teasing and goading turns into bullying the moment the victim s tarts feeling powerless. According to Tara L.Shutters article Understanding Bullying, the bully and victim allegations blooms from an imbalance of power where the victim finds it h arid to defend humor herself (Understanding Bullying 51 Once the Victim feels belittled, the line separating teasing and bullying becomes crossed. The victim of the bullying feels as if the y are too weak to answer back. We will write a custom essay sample on Lord Of The Flies Analysis or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Those targeted by a large group may feel even more powerless as well. When Piggy was trying to get attention from a group of boys in order to give them i important information, one of them yelled Shut up! At him, to which Piggy wilted(Golf ins 58). Piggy, Managing 2 who is a constant target throughout the length of the story, may feel powerless as towards the rest of the boys. When he tries to assert leadership, he backs off timidly because he f eels irrelevant. This position makes him an easy target. Through Shutters definition of bullying g, Piggy is classified as a hopeless victim. The majority of victims may see themselves in Piggys shoes as a powerless VI CCITT of bullying. However, bullying can happen even to those that hold power.Ralph, the elected leader f the boys on the island, faces bullying although he holds a leadership posits on. When he tries to confront his rivals, they end up killing one of his group members and kidnap ins the others. The rivals then continue to physically abuse him, hurling [their] spear at Ralph(G ladling 261). Ralph defies the stereotype Of the typical bullied victim, which only makes Shutters definition of a victim only true in some cases. Another case that argues against the stereotype e of the powerless victim is the story of Kathleen Stapleton. She used the harsh words and insults o fuel her desire to stop bullying (Life after Bullying 55). While most victims of bullying feel powers sees, it is possible to have power and be bullied at the same time. Anybody could such MBA to being bullied. In conclusion, Lord of the Flies by William Gilding demonstrate sees that when victims start to feel powerless, teasing and goading turns into bullying. However err, In some cases, the victims of bullies arent as powerless as the typical victim. Everyone can b e a target of bullying, if they have power or not.

U.S. Foreign Policy essays

U.S. Foreign Policy essays No one country or nation in the history of the world has ever held as much power, influence, and control as the United States does now in our present day. Within the last century that has passed us by, our country has accumulated so much of its wealth, knowledge, and power because of the simple fact that we have such a melting pot of people. This massive potpourri of ideas from all over the world has lead to such a quick progression in all aspects of our nation: the economy, government, and culture. However, we did not always have such a strong effect on other countries. During the youth of our nation, much time was spent practicing isolationism mainly because of our inability and lack of power to have much authority throughout the rest of the world. Through time, as immigrants arrived from all over the globe, the United States gained prosperity and power. It would be impossible for us to remain isolated from the rest of the globe especially with the great amount of influence t hat had been accumulated. One of the first instances where we began to involve ourselves in foreign affairs was during the First World War. With no desire to enter the war in Europe, we attempted to remain merely an outside observer. Even though we eventually entered the war later on, while the Allies were fighting, we actually supplied them with different types of equipment such as food and ammunition. This type of involvement is somewhat strange merely because of the initial stance of neutrality that the United States took. Was it right for America to support the Allies? That question is somewhat difficult to answer. Some might say that helping our European counterparts was the right way to proceed, but this type of decision making recently has gotten us into some quandaries. If the United States wants to help the world, then in doing so, we should attempt to treat each situation equally. Any sort of favoritism toward one particular group or s...

Entrepreneurship and Business Management (I) Essay

Entrepreneurship and Business Management (I) - Essay Example The SME in Singapore is supported largely by the Government but it fails to get the financial support that would have helped it scale new heights. Capital is always shy to support the new entrants especially that are small in size. The Singapore SME has made up for this deficiency by way of its entrepreneurial skills and abilities and has entered the International arena seeking resources it could not get at home. They have realized their potential and will be doing better in the future too. Singapore presents a paradox. It is a one nation state that has enormous prosperity but still ranks among the developing nations of East Asia. It is devoid of all natural resources, dependant on imports and yet has a high GDP and an astonishing per capita income. It has only two resource; human capital that has been exploited to the hilt and has catapulted it to its present eminent position. Its labour is qualified and with political stability the system is successful. The second is the port of Singapore; it is Asias largest harbour and is used as a trading hub by numerous Asian countries. Singapore has no agriculture and it relies on four major industrial/trading activities; electronics (60% of non petroleum exports are electronic products), petrochemicals (20% of industrial production), Information Technology (IT) and logistics. Biotechnologies and pharmaceutical industry are becoming prominent as Greenfield areas. The country also has a financial sector that is world class. Small and Medium Enterprises (SME) play a major role in any economy. They also employ a high figure of 50-60% of the labour force of the country (Luetkenhorst 2004). This fact contributes greatly to their support of the general economy in providing livelihood to a vast number of the population, even in countries like Singapore. Here they sustain a majority of the working population as well as provide sustained assistance

Buddhist Economics Assignment Example | Topics and Well Written Essays - 250 words

Buddhist Economics - Assignment Example In this case, it is ideal to reduce human labour or get rid of it completely. Modern economist relies on the concept of mechanization as a method of improving the economy. Buddhist economists however agree with this analogy but in a different point of view. In their point of view, labour is divided into two forms. The first form of labour involves human skills and power. The second form of labour involves the use of machines as mechanical slave. Buddhist economists argue that human labour is irreplaceable labour done out of free will is perfect compared to machinery labour (Schumacher, 2). They also argue that labour is like human nourishment thus it is hard for people to exist comfortably without engaging in labour activities. Buddhist also differs with the economic concept of materialists. Materialists are mainly interested in goods as Buddhists are mostly interested in liberation. The key concept in Buddhist economics is non-violence and simplicity. While modern economists measure ‘living standards’ by the amount of human consumption in the sense that a person who consumes more is better than that who consumes less, Buddhist consider this aspect to be irrational (Schumacher, 4). According to Buddhists, this concept renders human well-being as they consider minimum consumption as a way of maximizing human well-being. The concept of low consumption minimizes the wastage of materials as the excessive material can be conserved and utilized to make more goods thus enhancing the economy. Buddhist economists attribute the economy to conservation practices through proper utility of goods. For instance, non perishable resources should not be used if they cannot be renewed. Buddhist economics is high ly recommended in the modern society as it focuses of finding the correct path to development (Schumacher,