Product management- product portfolio and recommendations Essay

Product management- product portfolio and recommendations - Essay Example Customers can search for a hotel using filters such as the city, airport, address or point of interest. Also, they can state the dates that they would like to visit these hotels. Then, they choose their rates from a drop-down menu. Finally, they click on â€Å"Find a Hotel† button, which generates the results based on the filters (Ayeh 2015). IHG has done a brilliant job with its website. However, most customers today use social media more than search engines and websites to look for information and advice. IHG has a Facebook page with 83,865 likes. However, with a company as large as itself, IHG does not frequently update its Facebook page. For example, its last update was on 8th June in which they talked about their service week. Also, some pieces of information are not relevant to the customer. For instance, the next update after the service week news was on May 7th, in which the company had announced its Q1 Interim Management Statement. Most customers do not care about such information. All they want to know is what services they will get when they visit one of IHG’s hotels (Aluri 2015). The trend seen in Facebook can also be seen on Twitter. One update was made fourteen hours ago, the next on June 12th, June 8th and so on. Although the company does a better job with Twitter than Facebook, it does not appeal to the vanity or ego of the customer. What IHG fails to do consistently is tell its customers what they will experience by visiting the hotels. Moreover, the company does not segment its customers based on the many filters available. For example, IHG boasts its presence in approximately one hundred countries. However, people from one country do not have the same tastes as people from other countries. Therefore, the same marketing methods cannot be used. Moreover, with customers shifting to social media, it is imperative that IHG’s social media pages be segmented based on the geography of

Sainsbury's analysis and valuation Essay Example | Topics and Well Written Essays - 3000 words

Sainsbury's analysis and valuation - Essay Example It generated ?131 million PBT in 2010. 4- Sainsbury’s banking which is the result of a joint venture with Lloyds bank. It created such services as insurances, credit cards and loans and generated ?7 million PBT in 2010(j.Sainsbury our business 2011). According to J.Sainsbury RAQs (2011), there are different competitors of Sainsbury for each of its areas. For example, for supermarket, which is the biggest activity in the company, competitors are Tesco, Marks & Spencer and Morrison. However, the competitors for banking service are the traditional high street banks, Tesco and M&S financial services, Egg, MNA, Capital one, Direct Line and Cahoot. This paper will analyze the Sainsbury Company through a look into its macroeconomic environment, industry, five forces model, business model, and financial conditions. Business investors may use the recommendation made in this paper to see whether to buy, sell or hold Sainsbury’s share. Macroeconomic Environment: Interest Rate and Inflation Rate UK interest rate in March’ 2011 had been registered at 0.5% which is a record low (BBC, 2011). In February 2011, inflation rate of UK rose to 4.4% (BBC, 2011). Interest rate has a major impact on time value of money. Changes in the rate of inflation generally result in alterations in the interest rate. These two factors are the key factors employed in the decision making for investment since they have a direct impact upon the ‘investment yield’. In case of UK, the record low interest rate will support the investment on shares. Rising interest rates retard the growth of inflation. Lower rate of interest increases the borrowing from businesses, which can have an impact on Sainsbury’s. This can make investment in durable consumer goods products such as automobiles, capital equipments and buildings appealing. The lower rate of interest can also affect the value of currency by making the currency weak. This can in turn enhance the market value of Sainsbury’s for the foreign purchasers. This will also help to increase the profitability of the company (Economy Watch, 2009). Rise in inflation rate coincides with the increase in cost of fuel, food and clothing items. Rise in inflation generally takes place due to increase in wholesale price index, which can have an effect on retail spending of a consumer and can weaken the consumer demand. Inflation rise also increases prices of products and VAT (value added tax) on a product that generally affects the sales volume. Factors like high level of inflation, subdued growth of wage and indecisive economic viewpoint generally reflect in terms of consumer spending. Therefore, the inflationary scenario in the UK can have a big impact of the sales and profitability of Sainsbury (RTE News, 2001). 1-PEST analysis: Political According to Lawrence (2010a), the government intends to limit the role of the Food Standards Agency (FSA) and remove the ‘traffic light’ food label ing system, which has long been opposed by leading supermarkets like Tesco. As a result, the food industry will face little to no regulation for self and voluntary regulation (Lawrence 2010b). Leading supermarkets will have a ‘strong presence’ as far as accompanying the government on the forming of new

Person Centred Approach to Dementia and Geriatric Care

Person Centred Approach to Dementia and Geriatric Care Ranny Roi P.Gaco Abstract This paper examines the different principles involved in the person centred approach to dementia and other common geriatric health condition’s care. It will also tackle the differences against institution perspective approach and bio-medical perspective with respect to the person-centred approach in managing care. This assessment will also be discussing range of techniques used to meet the fluctuating abilities and needs of individuals that are very common to degenerative geriatric health conditions, as well as its impacts to equality and cultural diversity in meeting these issues in public health. This paper will also examine the government’s initiatives and programs available to meet the demands in caring with these types of elderly conditions. Introduction Caring comes in different ways as well as techniques in how to be able to provide the best way to our loved ones. While there are institutions who provide the best care for our loved ones, it is often being neglected that the very heart of caring is not just merely providing the basic care that the clients need but also with the quality of care that we are giving to them. Validations of the quality of care are often not being examine and should be given an emphasis especially that the abilities of the elderly with dementia are deteriorating, it is hard for them to feedback the way we are treating them or should the approach of care is the appropriate one they are actually needing. Question 1 Individuality We all know that whatever care we are doing, we need to considering the aspect of individuality with respect in caring with people with dementia and other geriatric conditions. In doing so, we can render a care that is suitable to the individual as we all know that every one is unique and so do with respect to caring attitude. Health workers should be conscious and must bear in mind that everyone has the right to be treated with individual needs in relation to person-centred approached that recognises the value, uniqueness of each person, understanding the world from the perspective of the service user, and providing a social environment to every individual under our care. Rights Every person is born with each right that no one can take away and must be respected. In dealing with elderly suffering from dementia, these rights are not being taken away and must be respected and are carried out to its highest standards. The health care provider’s role is to assess the patient’s cognitive function in order to plan what should be given to the patient especially that dementia is a condition that is interlinked with different medical conditions. Every time that someone is getting a care, this aspect of principles is being carried out in outmost consideration. Choice Choice is connected to individual’s right that whoever receives treatment and care should be given a choice in a way that will be helpful in managing his care. It is also the patient’s choice in instances that a further treatment is being withdrawn or further care shall be ignored. This should be explained properly to them and if cognitive functionality is impaired, the patient has the right to nominate a representative that will decide what suits best for the patient. This is commonly being delegated to the next of kin of the patient or whomever the patient assigns. Privacy This principle does apply to everyone and in every industry and so does with respect in managing care to those who are undergoing degenerative diseases. Privacy is being carried out such us the prognosis of the patients and shall not be divulge to anyone except to those who are only part of the team. Even medical research does not automatically be allowed to invade each patient’s medical documents without the consent of the patient. Normally, each institution does have their own ethics committee in dealing with privacy concerns as well as policies in releasing documents that is legally binding between the service provider and the customer. In dealing with procedures that is needed for the patient to undergo, an informed consent must be secured first, provided that the patient will understand the procedure and how beneficial to the client. Independence The goal of the care will not be a success if not with the help of the patients themselves. Optimum wellness can only be achieved if the patient cooperates and does a wide range of independence that will lead to a healing process. Most care facilities are applying this principle not because it will make job easier but it is also part of the treatment process. If there are difficulties along the way physically or intellectually, the healthcare team should find ways to these difficulties. The team should assess whether the patient can do task alone without struggle or it is advisable to seek full support in everyday living. Caregiver role plays an important role in the managing of care and should know how to assess in providing social independence and simple tasks to do. Dignity Every patient who is suffering dementia should be able to receive care with dignity. Anyone can attest that by putting yourself in the shoes of the patient. You should be able to assess if that is the treatment that is right to you. In that sense you, you can feel if you are receiving the treatment that you deserve. In applying to a person-centred approach of care, we must ensure that they are engaging in activities that they really like so that they will value their life even better. Respect This principle of care encompasses all other principles in such a way that every aspect or care should be based mainly on respect to the service user. Everyone has a unique character that should be respected. In dealing with elderly, make sure that their privacy is still being considered. In that way, they can still feel that despite their condition, that basic right of them are not being taken away from them. It is believe that when you want to be respected, you should know how to give respect as well. In applying it to person-centred, we must ensure that each individual has their own unique characteristic that we need to take note of, so that when we are providing care to them, they are able to appreciate our help. We must take note that it is the client’s welfare that we are serving and we should consider their uniqueness in order to provide a harmonious caring relationship. Autonomy This aspect of care should be given emphasis in its individual approach as every client has different ways in adapting to their current condition and to their new environment especially when they are being taken cared of outside their own home. Elderly especially those who are having early stage of dementia are in denial stage to the point that they are very eager in taking back their autonomy in managing their own health as well as their own way of living. This aspect of care must be taken seriously in a way that they don’t feel that their basic rights are not being taken away from them. It should be remembered by everyone involved in the care that patients should still be directly involve in the course of their treatment or rehabilitation. Creating a controlling environment against the patient will only delay the treatment course. In such cases that patients no longer capable of taking care of their own health, the nominated representative must be available that should not c ompromise the loved one quality of care. Question 2 Institution perspective This type of non-person-centred approach of care does not focus on the individual aspect of care but rather on its physical, social, and spiritual of the individual. The concept of care is focused on the general aspect of group of clients in the institution. It may be compared to an aspect of care wherein the care is based on the needs of the patients in general. The institution delivers the service to the client in a broader aspect. Examples of this are the set of diet to be served to a certain conditions are the same set of food. While some patient doesn’t want to eat a certain set that is generally being served to them, the institution do not adjust in the individual request of the patient except on the list of menus they can choose from. Though this should be applied mostly in every institution, in caring with dementia, this concept of care is not popular as the focused to their care should be more person-centred due to the needs of more personal and intimate care to be ab le to give an effective mode of treatment of care. So for the example regarding diet for a certain group of dementia patients in a facility, most likely that they will be demanding a different set from the one that is commonly being serve to them, it is equally important to note to the facility management to give in to some little request of the patients like extra egg or cup of tea instead of milk. Caring dementia clients needs to be more personal because of the uniqueness of the manifestations to every individual. Bio-Medical Perspective This perspective of care focuses on the medical aspect of treating the condition of dementia patients. It is equally important in the aspect of care because the medical team specifically in the field of research are in continuous pursuit of looking for treatment of the conditions associated with dementia patients. It is therefore important to the team to focus on the diagnosis and the course of care and treatment and constant documentation of the patients’ condition regardless of its connection of care to other care approach as the care of this is more on the scientific aspect of care and does not rely on the interdependence with other members of the care team. Question 3 Reality-orientation Approach This type of technique has been long use by different health care personnel not only in the care of people with dementia but as well as to other condition that affects the cognitive and reality function of the person. It involves with visual aides and basic knowledge orientation like asking about current events and today’s date. This approach is an interaction between the staff and the client. We know that patients with dementia are having trouble remembering recent events, that is why doing this approach is much needed and must be done more often. The staff can also ask the client some basic current events that the client should be able to remember if the memory is still fresh like the current Prime Minister of New Zealand. Asking the current date is equally important to prevent the client from memory deterioration. Most facilities should be able to post visible visual aids that are easy for the elderly to read like a big calendar to common areas where they can see it more of ten. The team can also innovate in doing it so in a way that it appears to be more fun and enjoyable to the clients. It can be done in a form of games where group of patients are gathered together and a facilitator ask them series of questions that involves reality orientation. In this way, they will feel it as a form of game without creating pressure to anyone being asked. It can be done in schedule as a way of socialising with others as well. Personal interaction can be done as much as possible. That is why all the health care workers should be able to learn these skills and be able to integrate it to their everyday interactions with the patients. Validation Approach Emotional aspect of the patients should always be considered in caring them. By doing a validation approach, they will allow the clients to voice out their concerns in contrast to what is actually you are observing. Care providers can do it by observing the patients emotional state and by asking them what they are currently feeling. By doing this, the patient will feel that their current emotional state are being considered and will uphold their integrity and purpose to live. Though this technique often seems to be complicated to care givers, but this approach seems to be the most important to the clients by just merely listening to them you will be able to ease what they are feeling. Assistive Technologies Nowadays healthcare institutions are dependent on the use of assistive technologies in carrying out their daily tasks in taking care of the patients. These technologies are very much helpful in managing the care of the patients like use of wheelchair, hoist, walker and others. Wheelchair is one of the most common equipment being used by elderly who are having difficulty in walking. It is important to note that as the age progresses they are becoming dependent to these equipment. Improper use of it will also lead to an accident that will add to the health problems of the elderly. Proper training to all including the staff is essential and as well as those caregiver who are under the direct care of the client. The patients should also be evaluated as often as possible if ever there is a need of other equipments to aid the care or there is a progress in order to provide more independence as much as possible. Reminiscence Techniques This technique is very common to those who are suffering Alzheimer’s disease. This is very effective if the one who are giving the care is a relative or someone who have been around with the client for a long time because the goal of reminiscing old good events are those that being shared by the client and the carer. In this way, the patient may relive an old fond memory that may enhance the ability to regain lost memory. By doing so, the client’s self-esteem is being established again that will give them a sense of life integrity. Holistic Approach This approach is very effective and should always be integrated in every care because it will encompasses all aspect of care by looking at the patient’s condition not only by their physiological needs but also their emotional, social, spiritual and psychological needs. By meeting each aspect of the individual’s needs, the client’s wellbeing is being uplifted and the caring process is broader that they can feel that their needs are being attended. Question 4 Public Health and Health Promotion In public health, there has been an effort to create a harmonious environment when it comes to equality, and cultural diversity as far as provision of the person-centred approach to individual is concerned. It is the goal of the private sector in partnership with the government to create a program that will be beneficial to elderly with dementia and across diversified cultural differences. They have even made it as a priority for dementia in all of its community involvement and awareness of the condition. In the health promotion aspect, the government had listed down six activities for those who have dementia. It includes minimising discrimination, where it should not be in any care, by promoting it, people suffering from this condition will be able to integrate in the community and have a graceful aging. Secondly, they focused on enhancing person-centred approach that every client with dementia should be able to receive this type of approach, as this would be more effective to elder clients. Thirdly, they promote activities that reduces stoke so the facilities must involve all the clients in a more active lifestyle and activities despite the challenges that the patients are having. Fourth is the reduction of incidence of fall as this is very common to elderly. Safety measures have been promoted and being practice to lessen the incidence among the clients. Their mental health is also important that is why is should be given a priority by assessing their mental wellbeing, and lastly, they encourage health and activity in older life in order to prevent these common conditions affecting elderly people. By engaging them to more active task while aging, they lessen the tendency of developing common geriatric conditions (National Service Framework, Department of Health, 2001). Question 5 The goal of these health sector standards and codes of practice, and other standards in applying to a person-centred approach for individuals with dementia and other common geriatric health conditions is to be a guideline in practicing the care to this group of client. Since most of them they are unable to promote their rights as a consumer, these codes will be a guidelines for us and will be a moral etiquette checker if the provider are doing what is supposed to be done. Conclusion Since people with dementia may tend to be uneasy and disorganise due to the complexity of their condition, person-centred approach in managing their care should be inculcated in the health care team. Though it may be independent from institution perspective of care as well as to bio-medical perspective, the core of the care should be running in a person-centred approach since all we care after all is what the clients will feel when we are at their side and we are talking to them. While their abilities to communicate and recognise simple task is fluctuating, we should always be ready to guide them and relive what is missing in them so that they can continue living a life worth living. Recommendation Due to the fluctuating health condition of people with dementia and other common geriatric health conditions, the following recommendation are made concerning continuous staff training, public engagement and stakeholders support. Continuous staff training Staff and caregivers alike should be able to receive the latest information in giving care that would be focused on the person-centred approach, because it is commonly being neglected due to the outlying medical concerns of the client, this important aspect of care is often being taken for granted. The facilities should conduct at least once a year or as soon as there are latest innovation towards caring has been released. Public Engagement Though this is more common in an aging population like New Zealand, it is often neglected by the citizens due to various commitments they are dealing from a day to day. Engaging the family more often will be beneficial not only to the care facilities but also to the client who lacks attention from their own family. Stakeholders support It will not be successful without the support of everyone who are involve in the care. There should be a harmony in carrying out the goal of having a more patient focused care. Nonetheless, it is everyone’s responsibility as a providers to be the best that they can be for the benefit of the clients with dementia to achieve optimum health. Bibliography Electronic source http://www.health.govt.nz (National Service Framework, Department of Health, 2001).

Dances with Wolves :: essays research papers

Dances with Wolves   Ã‚  Ã‚  Ã‚  Ã‚  The movie Dances with Wolves was a real good movie and I enjoyed watching it. It showed how life was back in the time of the Civil War. The movie also showed how Indians lived and how they respect everything except the white men.   Ã‚  Ã‚  Ã‚  Ã‚  I think you should keep on showing this movie to your other classes. When you showed this movie, all the kids in class paid attention to it and actually learned something from it because it caught there attention unlike other movies we have seen. If you show this to other classes it will have the same result and will help you in teaching the class. Also, the movie helped us understand how life was like in the West. It showed us that the soldiers were really ruthless and that they would just kill the buffalo for the hide and tongue, leaving the rest of the animal there to rot. While the Indians would take everything from the animal and use it to there advantage and there would be nothing to waste.   Ã‚  Ã‚  Ã‚  Ã‚  Out of a scale of 5(as being the best), I would give it a 4 and a half. The movie had a real good plot. It showed an American soldier leave his post and communicates with the Indians, which was very shunned upon. The American got very friendly with the Indians and also had a liking towards one of the females. While there relationship goit stronger they got married and when he went back to his post to get some things, he was caught by his troops, which thought he was an Indian. When they found out he was a soldier who became an Indian, they were going to try him of treason. While he was on his way back home, the Indians came and saved him from the white men.   Ã‚  Ã‚  Ã‚  Ã‚  This is such a good conflict, which made the movie more interesting to watch and you always waited to see what the Indians were going to do next.   Ã‚  Ã‚  Ã‚  Ã‚  The characters were real good too.

Augustine: Free Choices of Will Essay

St. Augustine’s On Free Choice of the Will elaborates on the relationship between God, free will, and evil. During the very beginning of Book One, he asks the question, â€Å"isn’t God the cause of evil† (Cahn 357). From this question, it can be ascertained that he searches for a connection between God and evil (sins), which inferred in the writing to be connected though free will. He believes that God does not create evil, but rather that evil is simply the lack of good, since God is completely good and, therefore, cannot create evil. God not being the source of evil is then further elaborated through his explanation of a crime and how it is caused by inordinate desires and human abuse of good things (Cahn 360). By explaining things this way, he shows that humans are responsible for evil, through their own wills. Of course, being that God is supposed to be in control, he further elaborates that God gives us free will in order to punish us righteously for this. He believes that God has given humans free will so that they would be able to sin and justifies God by writing that â€Å"the very fact that anyone who uses free will to sin is divinely punished show that free will was given to enable human beings to live rightly, for such punishment would be unjust if free will had been given both for living rightly and for sinning† (Cahn 361). Essentially, he is writing that God gives humans free will as a way to measure whether or not they can live righteously, while being tempted with ‘evil’ desires. I agree with Augustine’s logic regarding free will being the cause of evil, but there is a major fallacy which I will also explain. Augustine argues that â€Å"God is a cause of the second kind of evil, but in no way causes the first kind†¦ for there is no single cause of evil† (Cahn 357). While this statement is logical, since it can be said that God’s creations are the cause of evil and not God, it can also be somewhat interpreted as being flawed in the same sense. If God is the creator of everything, then does he not also have a hand in the creation of his creations? He is supposed to be the omnipotent being that has the master hand in every sense of life, so he should have more than just a secondhand blame for the creation of evil. However, since he is not directly the creator of evil and everything is inherently good, Augustine’s argument that God’s hands are ‘clean’ of evil is logically sound. Augustine’s assessment of free will being the cause of evil is also a logically sound argument. By providing an example of a mistreated slave killing his owner as a result of his innate desire (Cahn 360), he shows that it was through the slave’s ‘free will’ that evil was done. This shows that God, since he has given humans free will, had no part in said evil, since if he has indeed given the slave free will, then the creation of evil was entirely in the slave’s hands. If free will is indeed given to humans by God for the purpose of deciding if they can keep righteous through temptations, then it is clearly shown here that this is true. What a person manufactures in his mind is influenced by his surroundings and himself (multiple factors) and what he decides to do (free will) is completely in his hands. This logic shows that free will is the cause of evil. However, there is a major factor which I also disagree with and unravels much of the argument for me. The main issue is that God is omnipotent, but has given humans free will. That in itself is a huge contradiction, which Augustine attempts to answer by saying that â€Å"God foreknows this power [our will]†¦ since he whose foreknowledge never errs foreknows that I will have it† (Cahn 366-367). This sounds like he is simply speaking in circles about the subject. He tries to say that God knows about the future, but he knows about our free will, which will give us the power to decide things, but in the end is also foreknown by God. This is where I start to defer from his beliefs, since I believe that free will is the cause of evil, but that God should be taken out of the equation. While it can argued that God only knows of all the possibilities and not what will directly happen, which would make it so that he is providing free will and is part of a triangle relation between himself, free will, and evil, it is simply much more logical to believe that if there is a God, then there is no free will, and if that is such, God is the originator of evil. Augustine’s work is extremely logical and provides much evidence proving that free will is the cause of evil. He explains very clearly that evil is a result of human desire and their free will to do what they want. The most major flaw in his argument is that there is an omnipotent being that controls everything, yet doesn’t control everything, which would unravel his entire argument, resulting in evil being created by said being. Thus, the message that God exists would actually be detrimental to the argument that free will is the cause of evil. However, Augustine writes that â€Å"I hold by faith, not by something I see for myself† (Cahn 362), which means that God is not proven, so logically he doesn’t exist. Therefore, if God were to not exist, humans were innately given free will, and evil is not created from another source, it can be logically deduced that Augustine’s analysis of free will being the cause of evil is correct. Works Cited Cahn, Steven M. Classics of Western Philosophy. 7th ed. Indianapolis, IN: Hackett Pub. , 2006. Print.

The Post-American World

eading this article I could only have one thing in mind as a small business owner myself, and that was to discuss options other then buying. Based on the reading as well as my own research this is what I came up with Franchising? Or Licensing. Franchising vs. Licensing: An Example Franchising: Some fast-food chicken franchises cost more than one million dollars to get into, a LFC store costs as little as $150,000 to establish a planned restaurant, even less for an existing one. This allows the â€Å"small guy† access to a successfully established product with a 30 year track record. Our relatively low start-up expenses have attracted hard working entrepreneurs with limited financial means, and because of this, 90% of LFC owners are minorities, whom many have achieved a high level of financial success. LFC competes directly with the big names like KFC, Popeyes and Churches; our highest volume stores are surrounded by these businesses. Licensing: The only requirements are that you purchase LFC ingredients (Seasoned Flour, Red Pepper Mix, Dirty Rice Mix) and imprinted items (boxes, bags, and cups with the LFC logo printed on them) through a designated LFC distributor. Definitions Franchising is a business model in which you purchase a license of a specific business. Franchising is a term which can be applied to just about any area of economic endeavor. Franchising encompasses products and services from the manufacture, supply for manufacture, processing, distribution and sale of goods, to the rendering of services, the marketing of those services, their distribution and sale. Licensing is granting of permission to use intellectual property rights, such as trademarks, patents, or technology, under defined conditions. It prevents others from exploiting the idea, design, name or logo commercially. It is a business arrangement in which a local firm in the host country produces goods in accordance with another firm's (the licensing firm's) specifications; as the goods are sold, the local firm can retain part of the earnings. Agreement A franchise agreement is a specialized license and will cover all aspects of IP, user obligations and use provisions A license agreement is a business arrangement where a licensor via a monopoly right such as a Patent, a Trade Mark, a design or a copyright has to exclusive right which prevents others from exploiting the idea, design, name or logo commercially. In business for yourself but not by yourself! In license agreement or business opportunity there is no ongoing â€Å"royalty or required relationship† in effect you are: In business for yourself and by yourself! Time Required to Finish It takes months for franchises to be done. It takes about ten to fifteen business days to complete. Distinct Areas of Law Franchising is based on securities law. It means compliance with the franchise laws, like the securities laws, requires registration of the franchise in the applicable jurisdictions Licensing is a form of contract law. It means licensing is merely a contract between two independent contractors and franchise registration is not required. Work Load Franchising route creates more work for lawyers in complying with all the registration requirements. Down the licensing road, it requires substantially less legal work. Amount of Control The parent company keeps very tight controls on every aspect of your business but they also provide a lot of assistance in the management and marketing of your store. The control by the franchisor over the franchisee is what is supposed to make the money for the franchisee; i. e. if you do what the franchisor says, you will make money. Buying a franchise is like buying a security; i. . the control over whether or not the buyer of the franchise or security makes money is in the hands of a third party; for the security situation it is in the control of the people who operate the company that issues the security, and for the franchise the control is in the franchisor who dictates how the franchise operates to make money. The relationship between a licensee and the parent company is not as tigh t-knit. Once the licensee launches the operation, the relationship with the licensing company is frequently limited to purchasing products. In a licensing preparation, you have more freedom in the operation of your business than with a franchising situation, but also more responsibility (there is also more risk and potential reward). You have the freedom to set your own hours, make-money policies, benefits, employment policies. Relationship with the Parent Company Franchisees can expect to have a much closer relationship with their parent company than their licensee counterparts. First and foremost, franchisees typically retain rights to the parent company’s trademark and logo. This is important ecause it is a visible representation of the connection between franchisor and franchisee. The relationship between licensees and the licensing company is looser than the relationship between franchisors and franchisees. In most cases, the licensee does not retain rights to use the company’s trademark Cost Difference It is substantially expensive. Franchisees can expect to pay royalties on a go-forward basis i. e. e very time a profit is made. License opportunities are often less expensive than franchises in both the upfront investment and ongoing charges.